ProShare Advisors LLC Buys 6,317 Shares of MetLife, Inc. $MET

ProShare Advisors LLC increased its position in shares of MetLife, Inc. (NYSE:MET) by 4.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,269 shares of the financial services provider’s stock after acquiring an additional 6,317 shares during the period. ProShare Advisors LLC’s holdings in MetLife were worth $13,396,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of MET. BlackRock Inc. acquired a new stake in shares of MetLife during the 2nd quarter valued at about $4,381,692,000. Pzena Investment Management LLC bought a new position in MetLife during the second quarter valued at approximately $941,792,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in MetLife by 5.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,026,518 shares of the financial services provider’s stock valued at $509,904,000 after acquiring an additional 336,794 shares in the last quarter. Bank of America Corp DE bought a new stake in MetLife in the second quarter worth approximately $455,424,000. Finally, Legal & General Group Plc bought a new stake in MetLife in the second quarter worth approximately $326,904,000. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Stock Up 0.9%

MET opened at $100.92 on Tuesday. 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 capitalization of $64.94 billion, a price-to-earnings ratio of 19.33, a P/E/G ratio of 0.94 and a beta of 0.78. The business has a 50 day moving average of $97.82 and a 200-day moving average of $85.80. MetLife, Inc. has a 1-year low of $67.33 and a 1-year high of $103.65.

MetLife (NYSE:MET) last announced its quarterly earnings data 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 prior year, the business earned $2.02 earnings per share. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, sell-side analysts anticipate that MetLife, Inc. will post 9.94 earnings per share for the current year.

MetLife Announces Dividend

The company also recently announced 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. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, November 3rd. MetLife’s dividend payout ratio is presently 45.40%.

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

Wall Street Analysts Forecast Growth

MET has been the topic of several analyst reports. Mizuho lowered their target price on shares of MetLife from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 7th. Morgan Stanley upped their price target on MetLife from $103.00 to $111.00 and gave the stock an “overweight” rating in a research note on Monday, August 24th. Keefe, Bruyette & Woods increased their price target on MetLife from $105.00 to $108.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. Atlantic Securities set a $103.00 price target on MetLife in a report on Wednesday, July 15th. Finally, Evercore reaffirmed a “mixed” rating on shares of MetLife in a report on Monday, August 24th. Thirteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $105.44.

About MetLife

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.