Livforsakringsbolaget Skandia Omsesidigt Acquires Shares of 5,751 MetLife, Inc. $MET

Livforsakringsbolaget Skandia Omsesidigt bought a new position in MetLife, Inc. (NYSE:MET) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 5,751 shares of the financial services provider’s stock, valued at approximately $487,000.

Several other institutional investors also recently modified their holdings of the business. Activest Wealth Management increased its position in shares of MetLife by 205.8% during the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 212 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC purchased a new position in MetLife in the second quarter worth $26,000. Burk Holdings LLC bought a new position in MetLife in the 2nd quarter valued at $27,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of MetLife during the 4th quarter valued at $30,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of MetLife during the 4th quarter valued at $31,000. 94.99% of the stock is owned by institutional investors.

MetLife Price Performance

MET stock opened at $96.57 on Friday. MetLife, Inc. has a 12 month low of $67.33 and a 12 month high of $100.93. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $62.14 billion, a P/E ratio of 18.50, a price-to-earnings-growth ratio of 0.74 and a beta of 0.78. The firm has a 50 day moving average of $93.39 and a 200-day moving average of $82.83.

MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.13. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The firm had revenue of $13.52 billion during the quarter, compared to analyst estimates of $19.67 billion. During the same period in the previous year, the business earned $2.02 EPS. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, sell-side analysts predict that MetLife, Inc. will post 9.74 earnings per share for the current fiscal year.

MetLife announced that its board has initiated a stock repurchase plan on Wednesday, August 5th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 4.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

MetLife Dividend Announcement

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

Wall Street Analyst Weigh In

MET has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their price target on shares of MetLife from $97.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Weiss Ratings raised shares of MetLife from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 15th. TD Cowen raised their price target on shares of MetLife from $87.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. UBS Group lifted their price target on shares of MetLife from $102.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Finally, Barclays increased their price objective on MetLife from $94.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $102.21.

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.