HighTower Advisors LLC Has $12.81 Million Stock Holdings in MetLife, Inc. $MET

HighTower Advisors LLC decreased its position in shares of MetLife, Inc. (NYSE:MET) by 6.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 151,398 shares of the financial services provider’s stock after selling 10,235 shares during the quarter. HighTower Advisors LLC’s holdings in MetLife were worth $12,810,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. California State Teachers Retirement System increased its stake in MetLife by 8,029.0% in the second quarter. California State Teachers Retirement System now owns 73,771,290 shares of the financial services provider’s stock valued at $6,241,789,000 after purchasing an additional 72,863,779 shares in the last quarter. BlackRock Inc. bought a new position in shares of MetLife during the second quarter worth $4,381,692,000. Pzena Investment Management LLC acquired a new position in shares of MetLife in the 2nd quarter valued at $941,792,000. Norges Bank acquired a new position in shares of MetLife in the 4th quarter valued at $639,986,000. Finally, Bank of America Corp DE bought a new stake in shares of MetLife in the 2nd quarter valued at $455,424,000. Institutional investors and hedge funds own 94.99% of the company’s stock.

MetLife Trading Up 0.3%

MET opened at $95.82 on Thursday. The stock has a market capitalization of $61.65 billion, a P/E ratio of 18.36, a P/E/G ratio of 0.91 and a beta of 0.77. MetLife, Inc. has a 12 month low of $67.33 and a 12 month high of $100.93. The firm’s fifty day simple moving average is $95.04 and its 200 day simple moving average is $83.91. 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 released its earnings results on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $19.67 billion. During the same quarter in the prior year, the company earned $2.02 EPS. The company’s revenue was up 10.5% on a year-over-year basis. As a group, research analysts anticipate that MetLife, Inc. will post 9.78 EPS for the current fiscal year.

MetLife announced that its board has approved a stock buyback plan on Wednesday, August 5th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 4.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

MetLife Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have weighed in on MET shares. Barclays lifted their target price on MetLife from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Wall Street Zen upgraded MetLife from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. Evercore reaffirmed a “mixed” rating on shares of MetLife in a research report on Monday, August 24th. Jefferies Financial Group boosted their price objective on MetLife from $97.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Finally, Weiss Ratings raised MetLife from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, MetLife has a consensus rating of “Buy” and a consensus price target of $102.21.

MetLife Profile

MetLife, Inc (NYSE: MET) is a global financial services company that provides insurance, employee benefits and retirement solutions to individuals, employers and institutions. Its offerings include life insurance, dental and vision insurance, disability coverage, accident and health insurance, annuities, and retirement products.

Through its employer-focused business, MetLife helps organizations provide benefits and financial protection to their employees. The company also offers group insurance, individual protection products and investment management services through MetLife Investment Management, which serves institutional investors and retirement plans.

Founded in 1868, MetLife serves customers in the United States and operates internationally across Latin America, Asia, Europe and the Middle East.