MetLife, Inc. (NYSE:MET) Shares Purchased by TD Asset Management Inc

Key Points

• TD Asset Management Inc. increased its stake in MetLife by 19.3%, owning 530,194 shares worth approximately $42.57 million after acquiring an additional 85,674 shares in the first quarter.
• Analysts have raised MetLife's price targets, with JPMorgan Chase increasing it from $86 to $95, reflecting a positive outlook as the stock receives an average rating of "Moderate Buy."
• MetLife has declared a quarterly dividend of $0.5675 per share, representing an annualized yield of 2.92%, and approved a $3.00 billion stock buyback program signaling confidence in its stock value.

TD Asset Management Inc boosted its holdings in MetLife, Inc. (NYSE:MET - Free Report) by 19.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 530,194 shares of the financial services provider's stock after buying an additional 85,674 shares during the quarter. TD Asset Management Inc owned 0.08% of MetLife worth $42,569,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MET. Ball & Co Wealth Management Inc. purchased a new position in shares of MetLife during the 4th quarter worth $25,000. Transce3nd LLC purchased a new position in shares of MetLife during the 4th quarter worth $26,000. North Capital Inc. purchased a new position in shares of MetLife during the 1st quarter worth $26,000. Quarry LP purchased a new position in shares of MetLife during the 4th quarter worth $31,000. Finally, Estabrook Capital Management boosted its stake in shares of MetLife by 100.3% during the 4th quarter. Estabrook Capital Management now owns 589 shares of the financial services provider's stock worth $48,000 after acquiring an additional 295 shares during the last quarter. Hedge funds and other institutional investors own 94.99% of the company's stock.

MetLife Stock Down 3.2%

MetLife stock traded down $2.45 during trading on Friday, reaching $73.50. The stock had a trading volume of 1,932,701 shares, compared to its average volume of 3,373,481. MetLife, Inc. has a 52-week low of $65.21 and a 52-week high of $89.05. The business has a 50 day moving average price of $78.46 and a 200 day moving average price of $79.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.55. The stock has a market cap of $49.34 billion, a PE ratio of 11.96, a P/E/G ratio of 0.61 and a beta of 0.85.

MetLife (NYSE:MET - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.00 by ($0.04). The company had revenue of $18.57 billion for the quarter, compared to analysts' expectations of $18.06 billion. MetLife had a return on equity of 20.89% and a net margin of 6.08%. The firm's quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.83 EPS. On average, analysts predict that MetLife, Inc. will post 9.65 EPS for the current year.

MetLife announced that its board has approved a stock repurchase program on Wednesday, April 30th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 5.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

MetLife Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 5th will be paid a dividend of $0.5675 per share. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.1%. MetLife's dividend payout ratio is 36.91%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MET shares. Barclays raised their price objective on shares of MetLife from $88.00 to $94.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Morgan Stanley restated an "overweight" rating and set a $98.00 price objective (down from $99.00) on shares of MetLife in a research report on Monday, July 14th. Wells Fargo & Company reiterated an "overweight" rating and issued a $97.00 price target (up from $94.00) on shares of MetLife in a report on Thursday, July 10th. Keefe, Bruyette & Woods reduced their price target on shares of MetLife from $95.00 to $94.00 and set an "outperform" rating on the stock in a report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of MetLife from $86.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $96.09.

MetLife Profile

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-and long-term disability, individual disability, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.