SummitTX Capital L.P. Takes $1.85 Million Position in MetLife, Inc. $MET

Key Points

• SummitTX Capital acquired 26,224 MetLife shares worth approximately $1.85 million, while institutional investors collectively own 94.99% of the company.
• Analysts remain broadly positive: MetLife has a consensus “Moderate Buy” rating and a $100.50 target price, with several firms recently raising their targets.
• MetLife reported quarterly EPS of $2.42, beating estimates, and declared a quarterly dividend of $0.5925 per share, equivalent to a 2.4% annualized yield.

SummitTX Capital L.P. purchased a new position in MetLife, Inc. (NYSE:MET - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,224 shares of the financial services provider's stock, valued at approximately $1,855,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in MET. Commonwealth Retirement Investments LLC increased its stake in MetLife by 0.5% in the 4th quarter. Commonwealth Retirement Investments LLC now owns 26,953 shares of the financial services provider's stock worth $2,128,000 after acquiring an additional 131 shares during the last quarter. CreativeOne Wealth LLC boosted its position in shares of MetLife by 1.3% during the 4th quarter. CreativeOne Wealth LLC now owns 10,156 shares of the financial services provider's stock valued at $802,000 after acquiring an additional 135 shares during the last quarter. Kathmere Capital Management LLC grew its holdings in shares of MetLife by 2.4% during the first quarter. Kathmere Capital Management LLC now owns 5,813 shares of the financial services provider's stock worth $411,000 after purchasing an additional 136 shares in the last quarter. Trust Co. of Toledo NA OH grew its holdings in shares of MetLife by 0.5% during the fourth quarter. Trust Co. of Toledo NA OH now owns 30,431 shares of the financial services provider's stock worth $2,402,000 after purchasing an additional 138 shares in the last quarter. Finally, Bridgewater Advisors Inc. increased its position in shares of MetLife by 3.5% in the fourth quarter. Bridgewater Advisors Inc. now owns 4,113 shares of the financial services provider's stock worth $315,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 94.99% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MET shares. Mizuho lifted their target price on shares of MetLife from $95.00 to $102.00 and gave the company an "outperform" rating in a research report on Thursday, July 9th. TD Cowen increased their price target on shares of MetLife from $87.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Morgan Stanley raised their price objective on shares of MetLife from $93.00 to $103.00 and gave the company an "overweight" rating in a research report on Monday, July 6th. Wells Fargo & Company lifted their price objective on shares of MetLife from $95.00 to $101.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Finally, Barclays upped their target price on shares of MetLife from $93.00 to $94.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, MetLife has a consensus rating of "Moderate Buy" and a consensus target price of $100.50.

MetLife Stock Performance

NYSE:MET opened at $97.65 on Wednesday. The business has a 50 day moving average of $87.88 and a 200 day moving average of $79.77. The company has a market capitalization of $62.83 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 0.73 and a beta of 0.78. MetLife, Inc. has a 1-year low of $67.33 and a 1-year high of $97.69. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.20 and a quick ratio of 0.20.

MetLife (NYSE:MET - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.42 EPS for the quarter, beating analysts' consensus estimates of $2.27 by $0.15. The business had revenue of $14.18 billion for the quarter, compared to analysts' expectations of $19.49 billion. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The business's quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the business earned $1.96 earnings per share. On average, sell-side analysts predict that MetLife, Inc. will post 9.89 earnings per share for the current fiscal year.

MetLife Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Tuesday, August 4th will be given a dividend of $0.5925 per share. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $2.37 annualized dividend and a yield of 2.4%. MetLife's dividend payout ratio is presently 45.93%.

MetLife Profile

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.

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