Eurizon Capital SGR S.p.A. Buys 306,277 Shares of MetLife, Inc. $MET

Eurizon Capital SGR S.p.A. boosted its stake in shares of MetLife, Inc. (NYSE:MET) by 29.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,337,687 shares of the financial services provider’s stock after acquiring an additional 306,277 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in MetLife were worth $126,357,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Nvwm LLC lifted its holdings in shares of MetLife by 655.3% during the third quarter. Nvwm LLC now owns 287 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 249 shares during the period. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of MetLife in the 2nd quarter valued at $26,000. Burk Holdings LLC bought a new stake in shares of MetLife in the 2nd quarter worth about $27,000. Highland Investment Advisors LLC bought a new stake in shares of MetLife in the 2nd quarter worth about $30,000. Finally, Elevation Wealth Partners LLC grew its holdings in shares of MetLife by 123.5% in the 3rd quarter. Elevation Wealth Partners LLC now owns 362 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 200 shares during the last quarter. 94.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other MetLife news, CEO Michel Khalaf sold 187,425 shares of the stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $102.97, for a total transaction of $19,299,152.25. Following the sale, the chief executive officer owned 759,013 shares of the company’s stock, valued at $78,155,568.61. This represents a 19.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MET shares. Wall Street Zen cut shares of MetLife from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. Piper Sandler boosted their price target on shares of MetLife from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday. Keefe, Bruyette & Woods boosted their price target on shares of MetLife from $105.00 to $108.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. Evercore reaffirmed a “mixed” rating on shares of MetLife in a research note on Monday, August 24th. Finally, Argus raised their price objective on shares of MetLife from $93.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Fourteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, MetLife has a consensus rating of “Moderate Buy” and a consensus target price of $107.12.

MetLife Price Performance

MetLife stock opened at $101.87 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.20 and a current ratio of 0.21. The firm has a market cap of $64.02 billion, a P/E ratio of 10.01, a P/E/G ratio of 0.97 and a beta of 0.79. The business’s fifty day moving average is $98.68 and its two-hundred day moving average is $86.77. MetLife, Inc. has a 52 week low of $67.33 and a 52 week high of $106.72.

MetLife (NYSE:MET) last announced its earnings results on Wednesday, November 4th. The financial services provider reported $2.78 EPS for the quarter, topping the consensus estimate of $2.77 by $0.01. MetLife had a return on equity of 25.71% and a net margin of 6.21%. The company had revenue of $20.52 billion for the quarter, compared to analysts’ expectations of $19.86 billion. During the same quarter in the prior year, the business earned $2.34 earnings per share. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. Equities research analysts forecast that MetLife, Inc. will post 9.94 earnings per share for the current fiscal year.

MetLife declared that its Board of Directors has authorized a share buyback program on Wednesday, August 5th that authorizes the company to repurchase $3 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 4.8% of its shares through open market purchases. Share repurchase programs are often an indication that the company’s management believes its stock is undervalued.

MetLife Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Tuesday, November 3rd will be given a dividend of $0.5925 per share. The ex-dividend date is Tuesday, November 3rd. This represents a $2.37 annualized dividend and a yield of 2.3%. MetLife’s dividend payout ratio is 30.90%.

MetLife Company Profile

MetLife, Inc. is a global financial services company best known for providing insurance, employee benefits and retirement-related products. Its offerings include life, dental and disability insurance, annuities, and products and services designed to help individuals and employers plan for financial protection and retirement. The company serves individuals, businesses and institutions in the United States and international markets, including countries in Latin America, Asia, Europe and the Middle East.