Northwestern Mutual Wealth Management Co. Invests $5.05 Million in MetLife, Inc. $MET

Northwestern Mutual Wealth Management Co. acquired a new stake in shares of MetLife, Inc. (NYSE:MET) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 59,682 shares of the financial services provider’s stock, valued at approximately $5,050,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MET. Activest Wealth Management grew its position in MetLife by 205.8% in the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 212 shares during the period. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of MetLife during the 2nd quarter valued at $26,000. Garton & Associates Financial Advisors LLC bought a new position in shares of MetLife during the 4th quarter valued at $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of MetLife in the 4th quarter worth $31,000. Finally, Prosperity Bancshares Inc purchased a new position in shares of MetLife in the 4th quarter worth $31,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MET shares. JPMorgan Chase & Co. upped their price objective on MetLife from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. TD Cowen raised their target price on MetLife from $87.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Wells Fargo & Company upped their price target on shares of MetLife from $101.00 to $109.00 and gave the company an “overweight” rating in a research report on Wednesday. Mizuho increased their price objective on shares of MetLife from $95.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Finally, Barclays raised their price objective on shares of MetLife from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, MetLife currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.64.

MetLife Stock Performance

NYSE:MET opened at $94.44 on Monday. 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 stock has a 50-day simple moving average of $92.41 and a two-hundred day simple moving average of $82.19. The firm has a market capitalization of $60.77 billion, a PE ratio of 18.09, a P/E/G ratio of 0.73 and a beta of 0.78. MetLife, Inc. has a 52-week low of $67.33 and a 52-week high of $100.93.

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

MetLife Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Tuesday, August 4th will be issued a $0.5925 dividend. This represents a $2.37 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 4th. MetLife’s dividend payout ratio is currently 45.40%.

MetLife declared that its board has authorized a share buyback program on Wednesday, August 5th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 4.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.