Corient Private Wealth LP Invests $38.19 Million in MetLife, Inc. $MET

Corient Private Wealth LP bought a new stake in MetLife, Inc. (NYSE:MET) during the second quarter, HoldingsChannel.com reports. The fund bought 798,044 shares of the financial services provider’s stock, valued at approximately $38,192,000.

A number of other large investors have also recently bought and sold shares of the company. Commonwealth Retirement Investments LLC grew its stake in shares of MetLife by 0.5% during the 4th quarter. Commonwealth Retirement Investments LLC now owns 26,953 shares of the financial services provider’s stock worth $2,128,000 after acquiring an additional 131 shares in the last quarter. CreativeOne Wealth LLC boosted its holdings in MetLife by 1.3% during the fourth quarter. CreativeOne Wealth LLC now owns 10,156 shares of the financial services provider’s stock worth $802,000 after purchasing an additional 135 shares during the last quarter. Kathmere Capital Management LLC grew its position in MetLife by 2.4% in the first quarter. Kathmere Capital Management LLC now owns 5,813 shares of the financial services provider’s stock valued at $411,000 after purchasing an additional 136 shares in the last quarter. Worth Asset Management LLC increased its stake in MetLife by 3.1% in the 2nd quarter. Worth Asset Management LLC now owns 4,551 shares of the financial services provider’s stock valued at $385,000 after buying an additional 138 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its position in MetLife by 0.5% during the 4th quarter. Bleakley Financial Group LLC now owns 29,687 shares of the financial services provider’s stock worth $2,343,000 after buying an additional 141 shares in the last quarter. Institutional investors and hedge funds own 94.99% of the company’s stock.

MetLife Trading Down 0.3%

Shares of NYSE:MET opened at $96.21 on Friday. MetLife, Inc. has a 12-month low of $67.33 and a 12-month high of $100.93. The business has a 50 day moving average of $93.17 and a 200-day moving average of $82.74. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.52. The stock has a market cap of $61.90 billion, a PE ratio of 18.43, a P/E/G ratio of 0.74 and a beta of 0.78.

MetLife (NYSE:MET) last announced its 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 analyst estimates of $19.67 billion. MetLife had a return on equity of 23.39% and a net margin of 4.57%.The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.02 earnings per share. As a group, equities research analysts forecast that MetLife, Inc. will post 9.73 earnings per share for the current year.

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

MetLife Dividend Announcement

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

Wall Street Analysts Forecast Growth

MET has been the subject of several analyst reports. Mizuho raised their price objective on MetLife from $95.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Wells Fargo & Company increased their price target on MetLife from $101.00 to $109.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Atlantic Securities set a $103.00 price target on MetLife in a research note on Wednesday, July 15th. Piper Sandler upped their price objective on MetLife from $86.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 24th. Finally, Morgan Stanley increased their price objective on MetLife from $103.00 to $111.00 and gave the company an “overweight” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $102.21.

About MetLife

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.