67,120 Shares in MetLife, Inc. $MET Acquired by True Freedom Investing LLC

True Freedom Investing LLC acquired a new position in shares of MetLife, Inc. (NYSE:MET) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 67,120 shares of the financial services provider’s stock, valued at approximately $4,747,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Strs Ohio raised its position in shares of MetLife by 16.6% during the 4th quarter. Strs Ohio now owns 326,091 shares of the financial services provider’s stock valued at $25,742,000 after buying an additional 46,469 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new position in MetLife in the fourth quarter worth approximately $81,494,000. Principal Financial Group Inc. increased its stake in MetLife by 2.2% during the fourth quarter. Principal Financial Group Inc. now owns 622,789 shares of the financial services provider’s stock worth $49,163,000 after acquiring an additional 13,657 shares during the last quarter. Bessemer Group Inc. raised its position in MetLife by 1.0% in the first quarter. Bessemer Group Inc. now owns 1,905,684 shares of the financial services provider’s stock valued at $134,770,000 after purchasing an additional 18,151 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in MetLife by 4.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,172,050 shares of the financial services provider’s stock valued at $94,139,000 after purchasing an additional 49,640 shares during the period. 94.99% of the stock is owned by institutional investors and hedge funds.

MetLife News Summary

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: Wall Street Zen upgraded MetLife to a Buy rating, providing a favorable near-term sentiment catalyst for MetLife, Inc. (NYSE: MET). MetLife Upgraded by Wall Street Zen to Buy Rating
• Positive Sentiment: Dowling & Partners issued a positive outlook for MetLife’s earnings, reinforcing expectations for continued operating strength. This view follows the company’s latest reported quarter, when earnings per share exceeded consensus estimates and revenue increased year over year. DOWLING & PARTN Issues Positive Outlook for MetLife Earnings
• Neutral Sentiment: A review of life-insurance companies’ second-quarter results benchmarks MetLife (NYSE: MET) against its industry peers. The article may help investors assess relative performance, but the headline does not identify a new company-specific catalyst. Life Insurance Stocks Q2 Recap: Benchmarking MetLife
• Neutral Sentiment: Multiple articles cover Bruno Mars’ concerts, schedules, weather, ticket availability and fan experience at MetLife Stadium. Although potentially relevant to the stadium’s venue business, MetLife, Inc. is an insurance and financial-services company; the stadium’s naming rights do not make these events a material direct driver of MET shares. Bruno Mars Opens Four Nights at MetLife Tonight

MetLife Trading Up 1.0%

Shares of MET stock opened at $94.44 on Friday. The stock has a market capitalization of $60.77 billion, a P/E ratio of 18.09, a price-to-earnings-growth ratio of 0.73 and a beta of 0.78. MetLife, Inc. has a fifty-two week low of $67.33 and a fifty-two week high of $100.93. 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 company has a 50 day moving average price of $92.41 and a 200 day moving average price of $82.17.

MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $2.43 EPS 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 company had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $19.67 billion. During the same quarter last year, the company posted $2.02 EPS. The firm’s revenue was up 10.5% compared to the same quarter last year. Equities research analysts predict that MetLife, Inc. will post 9.72 EPS for the current fiscal year.

MetLife Dividend Announcement

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

MetLife announced that its board has initiated a share repurchase plan on Wednesday, August 5th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 4.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of MetLife from a “hold” rating to a “buy” rating in a research report on Saturday. UBS Group increased their price objective on shares of MetLife from $102.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Wells Fargo & Company lifted their target price on shares of MetLife from $101.00 to $109.00 and gave the company an “overweight” rating in a report on Wednesday. Atlantic Securities set a $103.00 target price on MetLife in a research report on Wednesday, July 15th. Finally, Piper Sandler raised their price target on MetLife from $86.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, MetLife has a consensus rating of “Moderate Buy” and an average price target of $101.64.

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.