Stoneridge Investment Partners LLC Makes New $657,000 Investment in MetLife, Inc. $MET

Stoneridge Investment Partners LLC acquired a new stake in shares of MetLife, Inc. (NYSE:MET) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,834 shares of the financial services provider’s stock, valued at approximately $657,000.

Other large investors have also recently modified their holdings of the company. Activest Wealth Management boosted its holdings in MetLife by 205.8% during the 4th 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 period. Garton & Associates Financial Advisors LLC bought a new position in MetLife during the 4th quarter worth approximately $30,000. Prosperity Bancshares Inc purchased a new position in MetLife in the 4th quarter worth approximately $31,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in MetLife in the 4th quarter worth approximately $31,000. Finally, JPL Wealth Management LLC bought a new stake in MetLife in the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.

MetLife Trading Up 0.1%

NYSE MET opened at $97.57 on Friday. The stock has a market cap of $62.78 billion, a P/E ratio of 18.69, a price-to-earnings-growth ratio of 0.75 and a beta of 0.78. MetLife, Inc. has a fifty-two week low of $67.33 and a fifty-two week high of $100.93. The stock has a 50 day simple moving average of $91.52 and a two-hundred day simple moving average of $81.55. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.20 and a current ratio of 0.20.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.13. The firm had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $19.67 billion. MetLife had a return on equity of 23.39% and a net margin of 4.57%.The business’s revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.02 earnings per share. On average, analysts forecast that MetLife, Inc. will post 9.7 earnings per share for the current year.

MetLife declared that its Board of Directors has approved a stock buyback program on Wednesday, August 5th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 4.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

MetLife Dividend Announcement

The business also recently declared 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. The ex-dividend date is Tuesday, August 4th. This represents a $2.37 annualized dividend and a yield of 2.4%. MetLife’s payout ratio is 45.40%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MET shares. Wall Street Zen cut shares of MetLife from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings upgraded shares of MetLife from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 15th. UBS Group increased their price target on shares of MetLife from $102.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Morgan Stanley raised their price target on shares of MetLife from $93.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Finally, Mizuho boosted their price objective on shares of MetLife from $95.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. One equities research 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $101.07.

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.