MetLife, Inc. $MET Stock: Vise Technologies Inc. Boosts Position

Vise Technologies Inc. increased its stake in MetLife, Inc. (NYSE:MET) by 32.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 34,320 shares of the financial services provider’s stock after buying an additional 8,476 shares during the quarter. Vise Technologies Inc.’s holdings in MetLife were worth $3,232,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in MetLife in the second quarter valued at approximately $4,381,692,000. Pzena Investment Management LLC bought a new position in shares of MetLife in the 2nd quarter valued at about $941,792,000. Bank of America Corp DE bought a new position in MetLife during the second quarter valued at $455,424,000. Legal & General Group Plc bought a new stake in shares of MetLife during the second quarter worth $326,904,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of MetLife during the second quarter worth approximately $293,287,000. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Trading Up 2.2%

NYSE MET opened at $102.84 on Thursday. The company’s fifty day simple moving average is $98.05 and its 200-day simple moving average is $86.03. MetLife, Inc. has a 52 week low of $67.33 and a 52 week high of $103.65. 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 has a market cap of $66.17 billion, a P/E ratio of 19.70, a PEG ratio of 0.95 and a beta of 0.79.

MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.01. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The business had revenue of $20.52 billion during the quarter, compared to analyst estimates of $19.86 billion. During the same period last year, the business earned $2.34 EPS. The business’s revenue was up 18.2% on a year-over-year basis. Equities research analysts predict that MetLife, Inc. will post 9.94 EPS for the current fiscal year.

MetLife announced that its board has initiated a stock repurchase program on Wednesday, August 5th that allows the company to buy back $3 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 typically a sign that the company’s board of directors believes its shares are undervalued.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Tuesday, November 3rd will be paid a $0.5925 dividend. The ex-dividend date is Tuesday, November 3rd. This represents a $2.37 annualized dividend and a dividend yield of 2.3%. MetLife’s payout ratio is 45.40%.

MetLife News Summary

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: MetLife reported adjusted earnings of $2.78 per share, just above the $2.77 consensus estimate and up from $2.34 a year earlier. MarketBeat earnings results
• Positive Sentiment: Revenue was $19.91 billion, slightly above the $19.86 billion expected and 18.2% higher year over year, pointing to solid top-line growth. MetLife Q3 sales
• Neutral Sentiment: The company also released its third-quarter results and earnings-call presentation, but the supplied reports do not provide additional outlook or guidance details that would clarify the next growth drivers. MetLife financial results announcement

Wall Street Analyst Weigh In

Several research firms have recently commented on MET. JPMorgan Chase & Co. boosted their price target on shares of MetLife from $108.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. Piper Sandler upgraded MetLife from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $99.00 to $110.00 in a report on Tuesday, September 22nd. Barclays increased their target price on MetLife from $97.00 to $111.00 and gave the company an “overweight” rating in a research report on Wednesday, October 7th. TD Cowen raised their price objective on MetLife from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Wednesday, October 21st. Finally, Jefferies Financial Group boosted their target price on shares of MetLife from $103.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, MetLife has an average rating of “Moderate Buy” and an average target price of $105.44.

MetLife Profile

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

Through its institutional and workplace businesses, MetLife helps employers provide benefits and retirement programs to their employees. The company also serves individual customers with protection and income products.