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Townsquare Capital LLC Has $10.66 Million Stake in MetLife, Inc. (NYSE:MET)

MetLife logo with Finance background

Key Points

  • Townsquare Capital LLC increased its holdings in MetLife, Inc. by 7.6% during the first quarter, acquiring an additional 9,393 shares, bringing its total to 132,708 shares valued at approximately $10.65 million.
  • MetLife's recent quarterly earnings showed a reported EPS of $2.02, missing analyst expectations by $0.30, while the company's revenue was down 2.7% year-over-year.
  • The company announced a quarterly dividend of $0.5675 per share, representing an annualized dividend yield of 3.0%, alongside a stock buyback plan to repurchase up to $3 billion in shares.
  • Looking to export and analyze MetLife data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Townsquare Capital LLC boosted its position in MetLife, Inc. (NYSE:MET - Free Report) by 7.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 132,708 shares of the financial services provider's stock after buying an additional 9,393 shares during the quarter. Townsquare Capital LLC's holdings in MetLife were worth $10,655,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of MET. Forsta AP Fonden grew its position in shares of MetLife by 7.9% during the 1st quarter. Forsta AP Fonden now owns 211,100 shares of the financial services provider's stock worth $16,949,000 after buying an additional 15,400 shares during the period. Savvy Advisors Inc. bought a new stake in shares of MetLife in the first quarter worth $205,000. National Bank of Canada FI lifted its position in shares of MetLife by 32.0% in the first quarter. National Bank of Canada FI now owns 547,319 shares of the financial services provider's stock worth $43,940,000 after purchasing an additional 132,762 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in MetLife by 13.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,050,921 shares of the financial services provider's stock worth $84,378,000 after acquiring an additional 123,947 shares in the last quarter. Finally, Arjuna Capital acquired a new position in shares of MetLife in the first quarter valued at $3,381,000. 94.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays upped their price target on shares of MetLife from $88.00 to $94.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. JPMorgan Chase & Co. increased 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. Wall Street Zen cut shares of MetLife from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Jefferies Financial Group increased their target price on shares of MetLife from $100.00 to $103.00 and gave the stock a "buy" rating in a report on Monday. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $98.00 price objective (down previously from $99.00) on shares of MetLife in a report on Monday, July 14th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.00.

Read Our Latest Report on MetLife

MetLife Trading Down 1.3%

NYSE:MET traded down $0.96 on Monday, reaching $75.32. 4,414,723 shares of the stock traded hands, compared to its average volume of 3,383,500. The firm has a market capitalization of $50.56 billion, a price-to-earnings ratio of 12.77, a price-to-earnings-growth ratio of 0.67 and a beta of 0.85. The company's 50 day moving average is $78.09 and its 200-day moving average is $78.99. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.57. MetLife, Inc. has a 1-year low of $65.21 and a 1-year high of $89.05.

MetLife (NYSE:MET - Get Free Report) last released its earnings results on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share for the quarter, missing analysts' consensus estimates of $2.32 by ($0.30). The firm had revenue of $17.34 billion for the quarter, compared to analyst estimates of $18.58 billion. MetLife had a net margin of 5.83% and a return on equity of 19.88%. The business's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.28 EPS. Equities research analysts anticipate that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 5th will be given a dividend of $0.5675 per share. This represents a $2.27 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, August 5th. MetLife's dividend payout ratio is currently 38.47%.

MetLife announced that its Board of Directors has approved a stock repurchase program on Wednesday, April 30th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 5.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

MetLife Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for MetLife (NYSE:MET)

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