MCF Advisors LLC Raises Holdings in MetLife, Inc. (NYSE:MET)

MCF Advisors LLC lifted its holdings in shares of MetLife, Inc. (NYSE:MET) by 97.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 3,060 shares of the financial services provider’s stock after acquiring an additional 1,509 shares during the period. MCF Advisors LLC’s holdings in MetLife were worth $183,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. IAG Wealth Partners LLC grew its stake in shares of MetLife by 457.5% during the second quarter. IAG Wealth Partners LLC now owns 446 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 366 shares during the last quarter. Clean Yield Group purchased a new stake in MetLife in the second quarter valued at approximately $27,000. Allred Capital Management LLC purchased a new stake in MetLife in the first quarter valued at approximately $28,000. Stuart Chaussee & Associates Inc. purchased a new stake in MetLife in the first quarter valued at approximately $28,000. Finally, Barrett Asset Management LLC purchased a new stake in MetLife in the second quarter valued at approximately $30,000. Institutional investors and hedge funds own 74.60% of the company’s stock.

Shares of MET stock opened at $60.78 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.15 and a quick ratio of 0.15. The company has a market cap of $52.08 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.02 and a beta of 1.31. The stock has a 50 day simple moving average of $59.96 and a 200-day simple moving average of $61.54. MetLife, Inc. has a 1-year low of $35.19 and a 1-year high of $67.68.

MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, August 4th. The financial services provider reported $2.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.76. MetLife had a return on equity of 10.78% and a net margin of 6.61%. The firm had revenue of $18.52 billion during the quarter, compared to the consensus estimate of $15.84 billion. During the same period in the prior year, the company earned $0.83 EPS. The firm’s revenue was up 33.8% compared to the same quarter last year. Analysts anticipate that MetLife, Inc. will post 7.98 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 14th. Investors of record on Tuesday, August 10th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Monday, August 9th. MetLife’s dividend payout ratio is currently 31.17%.

MetLife announced that its Board of Directors has initiated a stock buyback plan on Wednesday, August 4th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

MET has been the topic of a number of recent research reports. upped their target price on MetLife from $69.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, June 21st. Morgan Stanley upped their target price on MetLife from $73.00 to $74.00 and gave the company an “overweight” rating in a research report on Thursday, August 5th. TheStreet upgraded MetLife from a “c+” rating to a “b” rating in a research report on Wednesday, August 4th. Finally, Zacks Investment Research upgraded MetLife from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research report on Tuesday, June 15th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $64.92.

MetLife Profile

MetLife, Inc provides insurance and financial services to individual and institutional customers. It offers life insurance, annuities, automobile and homeowner’s insurance and retail banking services to individuals as well as group insurance, reinsurance and retirement and savings products and services.

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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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