Waverly Advisors LLC Buys 16,582 Shares of MetLife, Inc. $MET

Key Points

• Waverly Advisors increased its MetLife stake by 33.6% in the first quarter, purchasing 16,582 additional shares and bringing its holdings to 65,971 shares valued at approximately $4.665 million. Institutional investors collectively own 94.99% of the company.
• Analysts maintain a favorable outlook, with MetLife receiving a consensus “Moderate Buy” rating and an average price target of $100.50. Recent targets range from $99 to $103.
• MetLife reported quarterly EPS of $2.42, exceeding estimates of $2.27, while revenue rose 2.7% year over year. The company also declared a quarterly dividend of $0.5925, equivalent to an annualized $2.37 yield of about 2.4%.

Waverly Advisors LLC boosted its stake in MetLife, Inc. (NYSE:MET - Free Report) by 33.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,971 shares of the financial services provider's stock after purchasing an additional 16,582 shares during the period. Waverly Advisors LLC's holdings in MetLife were worth $4,665,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Activest Wealth Management increased its stake in shares of MetLife by 205.8% in the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider's stock worth $25,000 after buying an additional 212 shares during the period. Sound Income Strategies LLC boosted its position in MetLife by 58.9% during the 4th quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider's stock valued at $29,000 after buying an additional 142 shares during the period. Garton & Associates Financial Advisors LLC purchased a new stake in MetLife during the 4th quarter valued at $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in MetLife in the 4th quarter worth $31,000. Finally, Prosperity Bancshares Inc purchased a new position in shares of MetLife in the fourth quarter valued at about $31,000. Institutional investors own 94.99% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on MET. Weiss Ratings raised shares of MetLife from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, June 15th. Jefferies Financial Group boosted their price target on MetLife from $97.00 to $103.00 and gave the company a "buy" rating in a report on Friday, July 10th. Bank of America lowered their price target on MetLife from $103.00 to $99.00 and set a "buy" rating for the company in a research report on Tuesday, April 14th. Wells Fargo & Company increased their price objective on MetLife from $95.00 to $101.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Finally, Atlantic Securities set a $103.00 price objective on MetLife in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $100.50.

MetLife Trading Up 2.6%

Shares of MET opened at $97.65 on Wednesday. MetLife, Inc. has a 1-year low of $67.33 and a 1-year high of $97.69. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.53. The firm's 50-day moving average price is $87.88 and its 200-day moving average price is $79.77. The firm 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 (NYSE:MET - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.27 by $0.15. The company had revenue of $14.18 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm earned $1.96 earnings per share. Sell-side analysts anticipate that MetLife, Inc. will post 9.89 EPS for the current year.

MetLife Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 4th will be paid a $0.5925 dividend. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Tuesday, August 4th. MetLife's dividend payout ratio (DPR) 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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