Daiichi Life Insurance Co. Ltd. Makes New $8.33 Million Investment in MetLife, Inc. $MET

Daiichi Life Insurance Co. Ltd. bought a new position in shares of MetLife, Inc. (NYSE:MET) in the 2nd quarter, Holdings Channel.com reports. The firm bought 98,445 shares of the financial services provider’s stock, valued at approximately $8,329,000.

Other large investors have also recently made changes to their positions in the company. Commerce Bank purchased a new stake in shares of MetLife during the 2nd quarter worth approximately $9,186,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of MetLife in the second quarter valued at $5,050,000. Evolve Private Wealth LLC bought a new stake in MetLife in the second quarter worth $230,000. Farringdon Capital Ltd. purchased a new stake in MetLife during the second quarter valued at $302,000. Finally, Varma Mutual Pension Insurance Co bought a new position in MetLife during the second quarter valued at $1,261,000. 94.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MET. Barclays boosted their target price on shares of MetLife from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. UBS Group lifted their price target on MetLife from $102.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Atlantic Securities set a $103.00 price objective on MetLife in a research note on Wednesday, July 15th. Wells Fargo & Company upped their price objective on MetLife from $101.00 to $109.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Mizuho raised their price objective on MetLife from $95.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. One investment 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $101.64.

MetLife Stock Performance

Shares of NYSE:MET opened at $94.44 on Friday. 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, Inc. has a 12 month low of $67.33 and a 12 month high of $100.93. The company has a market capitalization of $60.77 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 0.73 and a beta of 0.78. The firm’s 50-day moving average is $92.41 and its 200 day moving average is $82.17.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.13. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The business had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $19.67 billion. During the same quarter last year, the firm earned $2.02 earnings per share. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. Research analysts predict that MetLife, Inc. will post 9.72 EPS for the current year.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Tuesday, August 4th will be paid a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 4th. MetLife’s dividend payout ratio (DPR) is currently 45.40%.

MetLife announced that its board has authorized a stock repurchase program on Wednesday, August 5th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows 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 management believes its shares are undervalued.

MetLife News Summary

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: Wall Street Zen upgraded MetLife to a Buy rating, providing a favorable near-term sentiment catalyst for MetLife, Inc. (NYSE: MET). MetLife Upgraded by Wall Street Zen to Buy Rating
• Positive Sentiment: Dowling & Partners issued a positive outlook for MetLife’s earnings, reinforcing expectations for continued operating strength. This view follows the company’s latest reported quarter, when earnings per share exceeded consensus estimates and revenue increased year over year. DOWLING & PARTN Issues Positive Outlook for MetLife Earnings
• Neutral Sentiment: A review of life-insurance companies’ second-quarter results benchmarks MetLife (NYSE: MET) against its industry peers. The article may help investors assess relative performance, but the headline does not identify a new company-specific catalyst. Life Insurance Stocks Q2 Recap: Benchmarking MetLife
• Neutral Sentiment: Multiple articles cover Bruno Mars’ concerts, schedules, weather, ticket availability and fan experience at MetLife Stadium. Although potentially relevant to the stadium’s venue business, MetLife, Inc. is an insurance and financial-services company; the stadium’s naming rights do not make these events a material direct driver of MET shares. Bruno Mars Opens Four Nights at MetLife Tonight

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.