EFG International AG Acquires Shares of 8,759 MetLife, Inc. $MET

EFG International AG bought a new position in shares of MetLife, Inc. (NYSE:MET) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,759 shares of the financial services provider’s stock, valued at approximately $741,000.

Several other institutional investors and hedge funds have also made changes to their positions in MET. Ancora Advisors LLC acquired a new stake in shares of MetLife in the 2nd quarter valued at about $144,000. Canada Pension Plan Investment Board acquired a new position in MetLife during the second quarter worth approximately $68,861,000. Legal & General Group Plc purchased a new stake in MetLife in the second quarter valued at approximately $326,904,000. The Manufacturers Life Insurance Company acquired a new stake in shares of MetLife in the second quarter valued at approximately $55,514,000. Finally, Trajan Wealth LLC acquired a new stake in shares of MetLife in the second quarter valued at approximately $8,428,000. 94.99% of the stock is owned by hedge funds and other institutional investors.

MetLife Trading Down 0.3%

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 company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.52. The stock’s 50 day simple moving average is $93.17 and its 200-day simple moving average is $82.74. The firm has a market cap of $61.90 billion, a P/E ratio of 18.43, a PEG ratio of 0.74 and a beta of 0.78.

MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share 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 during the quarter, compared to the consensus estimate of $19.67 billion. During the same period last year, the company earned $2.02 earnings per share. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. Equities analysts anticipate that MetLife, Inc. will post 9.73 EPS for the current year.

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

MetLife Announces Dividend

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 dividend on an annualized basis and a yield of 2.5%. MetLife’s dividend payout ratio is presently 45.40%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Evercore reaffirmed a “mixed” rating on shares of MetLife in a report on Monday. JPMorgan Chase & Co. increased their price target on shares of MetLife from $106.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Mizuho raised their price objective on shares of MetLife from $95.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Weiss Ratings upgraded shares of MetLife from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 15th. Finally, UBS Group upped their target price on shares of MetLife from $102.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, MetLife presently has an average rating of “Buy” and a consensus target price of $102.21.

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.