National Pension Service Has $108.19 Million Position in MetLife, Inc. $MET

National Pension Service grew its stake in MetLife, Inc. (NYSE:MET) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,278,748 shares of the financial services provider’s stock after buying an additional 30,067 shares during the period. National Pension Service owned 0.20% of MetLife worth $108,195,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MET. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of MetLife in the 2nd quarter worth approximately $26,000. Burk Holdings LLC acquired a new stake in shares of MetLife during the second quarter worth $27,000. Highland Investment Advisors LLC bought a new position in MetLife during the second quarter worth $30,000. Garton & Associates Financial Advisors LLC acquired a new position in MetLife in the fourth quarter valued at $30,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in MetLife during the fourth quarter valued at $31,000. 94.99% of the stock is currently owned by institutional investors.

MetLife Price Performance

Shares of NYSE:MET opened at $96.75 on Friday. MetLife, Inc. has a twelve month low of $67.33 and a twelve month high of $100.93. The stock’s 50 day moving average is $95.18 and its 200-day moving average is $84.04. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $62.25 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 0.92 and a beta of 0.77.

MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $2.43 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $19.67 billion. During the same quarter in the previous year, the business posted $2.02 EPS. MetLife’s quarterly revenue was up 10.5% on a year-over-year basis. Sell-side analysts forecast that MetLife, Inc. will post 9.78 EPS for the current fiscal year.

MetLife declared that its board has authorized a share buyback plan on Wednesday, August 5th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 4.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Tuesday, August 4th were given a $0.5925 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $2.37 annualized dividend and a yield of 2.4%. MetLife’s dividend payout ratio (DPR) is presently 45.40%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on MetLife from $101.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. Evercore reiterated a “mixed” rating on shares of MetLife in a report on Monday, August 24th. Keefe, Bruyette & Woods raised their price objective on shares of MetLife from $105.00 to $108.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Weiss Ratings raised shares of MetLife from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 15th. Finally, UBS Group lifted their price target on shares of MetLife from $102.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, MetLife currently has an average rating of “Buy” and a consensus price target of $102.21.

MetLife Company 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.