Swedbank AB Acquires 316,859 Shares of MetLife, Inc. $MET

Key Points

• Swedbank AB significantly increased its MetLife stake in the first quarter, buying 316,859 additional shares and lifting its position by 13.3% to 2.7 million shares worth about $191 million.
• MetLife reported better-than-expected earnings for the latest quarter, posting $2.42 per share versus analysts’ estimate of $2.27, while revenue rose 2.7% year over year.
• The insurer also raised its dividend to $0.5925 per share quarterly, implying an annualized payout of $2.37 and a yield of 2.6%; analysts currently rate the stock a Moderate Buy with an average price target of $96.46.

Swedbank AB grew its stake in shares of MetLife, Inc. (NYSE:MET - Free Report) by 13.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,702,087 shares of the financial services provider's stock after purchasing an additional 316,859 shares during the period. Swedbank AB owned about 0.41% of MetLife worth $191,092,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of MET. Unison Advisors LLC lifted its position in shares of MetLife by 0.7% during the first quarter. Unison Advisors LLC now owns 53,952 shares of the financial services provider's stock valued at $3,815,000 after purchasing an additional 387 shares in the last quarter. Kathmere Capital Management LLC grew its position in MetLife by 2.4% in the 1st 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. Bogart Wealth LLC grew its position in MetLife by 36.4% in the 1st quarter. Bogart Wealth LLC now owns 941 shares of the financial services provider's stock worth $67,000 after purchasing an additional 251 shares in the last quarter. DGS Capital Management LLC increased its stake in MetLife by 25.7% in the 1st quarter. DGS Capital Management LLC now owns 5,949 shares of the financial services provider's stock valued at $421,000 after buying an additional 1,216 shares during the last quarter. Finally, St. Johns Investment Management Company LLC lifted its position in shares of MetLife by 1.6% during the 1st quarter. St. Johns Investment Management Company LLC now owns 12,574 shares of the financial services provider's stock worth $889,000 after buying an additional 197 shares in the last quarter. Institutional investors own 94.99% of the company's stock.

MetLife Stock Performance

Shares of MET stock traded up $1.54 during trading on Tuesday, reaching $92.00. 825,512 shares of the company's stock traded hands, compared to its average volume of 3,768,649. The firm's 50-day moving average is $83.11 and its 200 day moving average is $78.31. The company has a market capitalization of $59.20 billion, a P/E ratio of 17.83, a PEG ratio of 0.68 and a beta of 0.78. MetLife, Inc. has a 1 year low of $67.33 and a 1 year high of $92.27. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.53.

MetLife (NYSE:MET - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share for the quarter, beating analysts' consensus estimates of $2.27 by $0.15. The business had revenue of $14.18 billion during the quarter, compared to analyst estimates of $19.49 billion. MetLife had a net margin of 4.66% and a return on equity of 22.60%. MetLife's revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.96 EPS. Equities research analysts expect that MetLife, Inc. will post 9.98 EPS for the current year.

MetLife Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 12th were paid a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Tuesday, May 12th. This is a positive change from MetLife's previous quarterly dividend of $0.57. MetLife's dividend payout ratio is presently 45.93%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Mizuho set a $95.00 target price on MetLife in a research note on Friday, May 8th. Wall Street Zen lowered MetLife from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Bank of America cut their price objective on MetLife from $103.00 to $99.00 and set a "buy" rating on the stock in a research report on Tuesday, April 14th. TD Cowen reduced their price objective on MetLife from $91.00 to $88.00 and set a "buy" rating for the company in a research note on Wednesday, March 11th. Finally, Piper Sandler raised their target price on MetLife from $86.00 to $90.00 and gave the company a "neutral" rating in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $96.46.

MetLife Company 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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