7,470 MetLife, Inc. $MET Shares Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. lifted its stake in shares of MetLife, Inc. (NYSE:MET) by 8.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 96,665 shares of the financial services provider’s stock after acquiring an additional 7,470 shares during the period. Rakuten Investment Management Inc.’s holdings in MetLife were worth $9,203,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MET. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in MetLife during the second quarter worth about $26,000. Burk Holdings LLC purchased a new position in MetLife during the second quarter worth about $27,000. Nvwm LLC boosted its holdings in MetLife by 655.3% in the 3rd quarter. Nvwm LLC now owns 287 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 249 shares during the last quarter. Highland Investment Advisors LLC acquired a new position in MetLife in the 2nd quarter valued at about $30,000. Finally, Elevation Wealth Partners LLC grew its stake in shares of MetLife by 123.5% in the 3rd quarter. Elevation Wealth Partners LLC now owns 362 shares of the financial services provider’s stock valued at $34,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 94.99% of the company’s stock.

MetLife Trading Down 3.0%

Shares of MET stock opened at $99.79 on Friday. MetLife, Inc. has a 1-year low of $67.33 and a 1-year high of $106.72. The firm has a market cap of $64.21 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 0.97 and a beta of 0.79. The company has a 50-day moving average of $98.11 and a two-hundred day moving average of $86.15. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.20 and a quick ratio of 0.20.

MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.01. MetLife had a net margin of 6.21% and a return on equity of 24.45%. The business had revenue of $20.52 billion for the quarter, compared to the consensus estimate of $19.86 billion. During the same period in the previous year, the firm earned $2.34 EPS. The business’s revenue was up 18.2% on a year-over-year basis. On average, analysts predict that MetLife, Inc. will post 9.94 EPS for the current year.

MetLife declared that its board has approved a share repurchase program on Wednesday, August 5th that permits the company to buy back $3 billion in shares. This buyback authorization permits the financial services provider to purchase up to 4.8% of its shares through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

MetLife Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Tuesday, November 3rd will be issued a $0.5925 dividend. This represents a $2.37 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, November 3rd. MetLife’s dividend payout ratio (DPR) is 30.90%.

Key MetLife News

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: Third-quarter adjusted EPS was $2.78, slightly above the $2.77 consensus, while reported revenue of $20.52 billion topped the $19.86 billion estimate and increased 18.2% year over year. MET Q3 Earnings Beat on Higher Investment Income, Revenues Miss
• Positive Sentiment: Management highlighted broad business growth, strong returns and record adjusted EPS, with group-benefits underwriting performing ahead of its target. MetLife posts record adjusted EPS as group benefits underwriting runs ahead of target
• Neutral Sentiment: MetLife expects full-year Retirement and Income Solutions adjusted earnings to land slightly above the midpoint of its $1.6 billion–$1.8 billion outlook as variable investment income normalizes. MetLife full-year RIS earnings outlook
• Negative Sentiment: Despite the generally favorable results, investors may be concerned that rising expenses and actuarial adjustments are offsetting some gains. The stock’s decline and move below $100 indicate a negative market reaction to the earnings news, though the reports do not identify a single definitive catalyst. MetLife breaks below $100

Analyst Upgrades and Downgrades

MET has been the subject of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of MetLife in a report on Friday, September 11th. Wells Fargo & Company upped their price objective on MetLife from $109.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, October 12th. Wall Street Zen upgraded MetLife from a “hold” rating to a “buy” rating in a research report on Sunday, September 27th. Jefferies Financial Group raised their target price on MetLife from $103.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Finally, JPMorgan Chase & Co. lifted their target price on MetLife from $108.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, October 15th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, MetLife currently has a consensus 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.