iSAM Funds UK Ltd Buys New Position in MetLife, Inc. $MET

iSAM Funds UK Ltd bought a new stake in MetLife, Inc. (NYSE:MET) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 5,600 shares of the financial services provider’s stock, valued at approximately $474,000.

Other hedge funds have also made changes to their positions in the company. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of MetLife in the second quarter valued at approximately $26,000. Burk Holdings LLC purchased a new stake in MetLife during the 2nd quarter worth approximately $27,000. Garton & Associates Financial Advisors LLC acquired a new stake in MetLife during the 4th quarter worth approximately $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in MetLife during the 4th quarter worth approximately $31,000. Finally, Prosperity Bancshares Inc purchased a new position in MetLife in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 94.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MET shares. Jefferies Financial Group upped their price objective on MetLife from $97.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. TD Cowen lifted their target price on MetLife from $87.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Barclays boosted their target price on MetLife from $94.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Piper Sandler increased their price target on MetLife from $86.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, June 24th. Finally, Wells Fargo & Company lifted their price objective on MetLife from $101.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. One equities research 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.com, MetLife presently has a consensus rating of “Buy” and a consensus price target of $102.21.

MetLife Price Performance

Shares of MET opened at $96.45 on Thursday. MetLife, Inc. has a twelve month low of $67.33 and a twelve month high of $100.93. The firm’s fifty day simple moving average is $93.90 and its 200-day simple moving average is $83.24. The firm has a market capitalization of $62.06 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 0.95 and a beta of 0.77. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.52.

MetLife (NYSE:MET) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.13. The firm had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $19.67 billion. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.02 earnings per share. Equities analysts forecast that MetLife, Inc. will post 9.76 EPS for the current fiscal year.

MetLife Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 4th will be given a dividend of $0.5925 per share. This represents a $2.37 annualized dividend and a dividend 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 announced that its Board of Directors has authorized a stock repurchase program on Wednesday, August 5th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 4.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.