86,758 Shares in MetLife, Inc. $MET Purchased by Munich Reinsurance Co Stock Corp in Munich

Munich Reinsurance Co Stock Corp in Munich acquired a new position in shares of MetLife, Inc. (NYSE:MET) during the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 86,758 shares of the financial services provider’s stock, valued at approximately $7,341,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC increased its position in shares of MetLife by 9.0% in the fourth quarter. Brighton Jones LLC now owns 4,240 shares of the financial services provider’s stock worth $347,000 after acquiring an additional 351 shares in the last quarter. Caxton Associates LLP purchased a new stake in shares of MetLife in the 1st quarter valued at approximately $307,000. Empowered Funds LLC boosted its stake in MetLife by 187.6% in the 1st quarter. Empowered Funds LLC now owns 33,378 shares of the financial services provider’s stock worth $2,680,000 after purchasing an additional 21,771 shares during the period. Sivia Capital Partners LLC acquired a new position in MetLife in the 2nd quarter worth approximately $404,000. Finally, Jump Financial LLC purchased a new position in MetLife during the 2nd quarter worth approximately $444,000. 94.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MET. Jefferies Financial Group increased their target price on MetLife from $97.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 10th. Weiss Ratings upgraded MetLife from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 15th. Atlantic Securities set a $103.00 price target on MetLife in a research report on Wednesday, July 15th. Morgan Stanley increased their price objective on MetLife from $103.00 to $111.00 and gave the stock an “overweight” rating in a research note on Monday, August 24th. Finally, Wells Fargo & Company lifted their target price on MetLife from $101.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $102.21.

MetLife Trading Down 1.7%

Shares of NYSE:MET opened at $97.51 on Friday. The firm has a fifty day moving average of $94.42 and a two-hundred day moving average of $83.50. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.52. MetLife, Inc. has a 12-month low of $67.33 and a 12-month high of $100.93. The firm has a market capitalization of $62.74 billion, a P/E ratio of 18.68, a price-to-earnings-growth ratio of 0.95 and a beta of 0.77.

MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $19.67 billion. During the same period in the prior year, the business posted $2.02 earnings per share. MetLife’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities analysts expect that MetLife, Inc. will post 9.76 EPS for the current fiscal year.

MetLife Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Tuesday, August 4th will be given a $0.5925 dividend. This represents a $2.37 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, August 4th. MetLife’s dividend payout ratio is presently 45.40%.

MetLife announced that its Board of Directors has initiated a stock buyback plan on Wednesday, August 5th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 4.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

MetLife Company 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.