MetLife, Inc. (NYSE:MET) Shares Acquired by Kowal Investment Group LLC

Kowal Investment Group LLC raised its holdings in MetLife, Inc. (NYSE:MET) by 33.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,696 shares of the financial services provider’s stock after purchasing an additional 3,187 shares during the quarter. Kowal Investment Group LLC’s holdings in MetLife were worth $941,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MET. Norges Bank acquired a new position in MetLife during the fourth quarter worth $558,460,000. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of MetLife in the 4th quarter valued at about $52,752,000. Dimensional Fund Advisors LP lifted its stake in shares of MetLife by 20.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,053,851 shares of the financial services provider’s stock valued at $268,090,000 after purchasing an additional 700,788 shares during the period. Caisse DE Depot ET Placement DU Quebec purchased a new stake in MetLife during the third quarter worth about $31,455,000. Finally, Groupama Asset Managment acquired a new position in MetLife during the fourth quarter worth about $28,425,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

MetLife Trading Down 0.8 %

MET stock traded down $0.54 during midday trading on Monday, hitting $69.65. The stock had a trading volume of 1,718,866 shares, compared to its average volume of 3,379,561. MetLife, Inc. has a 12-month low of $56.13 and a 12-month high of $74.68. The firm has a market cap of $49.53 billion, a PE ratio of 24.27, a price-to-earnings-growth ratio of 0.59 and a beta of 1.11. The company’s 50-day moving average price is $71.31 and its 200 day moving average price is $70.16. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.83 EPS for the quarter, meeting analysts’ consensus estimates of $1.83. MetLife had a return on equity of 20.39% and a net margin of 3.50%. The business had revenue of $17.02 billion during the quarter, compared to the consensus estimate of $17.73 billion. During the same quarter in the previous year, the business earned $1.52 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities research analysts predict that MetLife, Inc. will post 8.62 earnings per share for the current fiscal year.

MetLife Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, May 7th were given a $0.545 dividend. The ex-dividend date was Monday, May 6th. This is a boost from MetLife’s previous quarterly dividend of $0.52. This represents a $2.18 annualized dividend and a dividend yield of 3.13%. MetLife’s dividend payout ratio (DPR) is currently 74.91%.

MetLife declared that its Board of Directors has approved a stock repurchase program on Wednesday, May 1st that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wells Fargo & Company decreased their price target on MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Piper Sandler lowered their target price on MetLife from $85.00 to $82.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Argus lifted their price target on MetLife from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a research note on Tuesday, June 18th. Finally, Keefe, Bruyette & Woods cut their target price on shares of MetLife from $87.00 to $86.00 and set an “outperform” rating for the company in a research report on Tuesday, May 7th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, MetLife presently has a consensus rating of “Moderate Buy” and an average price target of $79.92.

MetLife Company Profile

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-and long-term disability, individual disability, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.