Glenview Trust Co Makes New $3.36 Million Investment in MetLife, Inc. $MET

Glenview Trust Co bought a new stake in MetLife, Inc. (NYSE:MET) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 39,743 shares of the financial services provider’s stock, valued at approximately $3,363,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Activest Wealth Management raised its position in shares of MetLife by 205.8% during the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock valued at $25,000 after buying an additional 212 shares during the period. Mowery & Schoenfeld Wealth Management LLC purchased a new position in MetLife in the second quarter worth approximately $26,000. Burk Holdings LLC acquired a new stake in MetLife during the second quarter worth $27,000. Garton & Associates Financial Advisors LLC acquired a new stake in MetLife during the fourth quarter worth $30,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in MetLife in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 94.99% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Evercore reiterated a “mixed” rating on shares of MetLife in a report on Monday. Morgan Stanley upped their target price on shares of MetLife from $103.00 to $111.00 and gave the company an “overweight” rating in a research report on Monday. Wall Street Zen raised shares of MetLife from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. Mizuho boosted their price target on shares of MetLife from $95.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Finally, Jefferies Financial Group upped their price objective on shares of MetLife from $97.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, MetLife presently has an average rating of “Buy” and an average target price of $102.21.

MetLife Stock Performance

Shares of MetLife stock opened at $96.21 on Friday. MetLife, Inc. has a one year low of $67.33 and a one year high of $100.93. The company has a market cap of $61.90 billion, a PE ratio of 18.43, a P/E/G ratio of 0.74 and a beta of 0.78. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.20 and a current ratio of 0.20. The business has a 50-day simple moving average of $93.17 and a 200-day simple moving average of $82.74.

MetLife (NYSE:MET) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.13. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The firm had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $19.67 billion. During the same quarter last year, the company earned $2.02 earnings per share. The firm’s revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts forecast that MetLife, Inc. will post 9.73 EPS for the current fiscal year.

MetLife Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 4th will be issued a $0.5925 dividend. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, August 4th. MetLife’s dividend payout ratio (DPR) is presently 45.40%.

MetLife declared that its Board of Directors has approved a share repurchase program on Wednesday, August 5th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 4.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

MetLife Profile

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.