Diversify Advisory Services LLC Takes Position in MetLife, Inc. $MET

Diversify Advisory Services LLC acquired a new position in shares of MetLife, Inc. (NYSE:MET) in the second quarter, HoldingsChannel reports. The firm acquired 7,350 shares of the financial services provider’s stock, valued at approximately $700,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Activest Wealth Management lifted its holdings in MetLife by 205.8% in the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 212 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of MetLife in the second quarter valued at approximately $26,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of MetLife in the fourth quarter valued at approximately $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of MetLife during the fourth quarter valued at approximately $31,000. Finally, Prosperity Bancshares Inc acquired a new stake in MetLife during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 94.99% of the company’s stock.

MetLife Price Performance

MetLife stock opened at $93.55 on Friday. MetLife, Inc. has a 1 year low of $67.33 and a 1 year high of $100.93. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.20 and a current ratio of 0.20. The firm has a 50 day moving average price of $92.29 and a 200 day moving average price of $82.08. The company has a market cap of $60.19 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 0.73 and a beta of 0.78.

MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.13. The company had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $19.67 billion. MetLife had a net margin of 4.57% and a return on equity of 23.39%. MetLife’s revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.02 earnings per share. Sell-side analysts predict that MetLife, Inc. will post 9.72 earnings per share for the current year.

MetLife announced that its board has initiated a share buyback plan on Wednesday, August 5th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 4.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

MetLife Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 4th will be issued a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, August 4th. MetLife’s dividend payout ratio is presently 45.40%.

Analysts Set New Price Targets

MET has been the subject of several analyst reports. Wall Street Zen downgraded MetLife from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Jefferies Financial Group raised their price objective on MetLife from $97.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Wells Fargo & Company lifted their price objective on MetLife from $101.00 to $109.00 and gave the company an “overweight” rating in a research report on Wednesday. Barclays upped their target price on MetLife from $94.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, Mizuho increased their target price on MetLife from $95.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $101.64.

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.