National Pension Service Purchases 30,067 Shares of MetLife, Inc. $MET

National Pension Service lifted its position in shares of MetLife, Inc. (NYSE:MET) by 2.4% during the second quarter, Holdings Channel reports. The firm owned 1,278,748 shares of the financial services provider’s stock after acquiring an additional 30,067 shares during the period. National Pension Service’s holdings in MetLife were worth $108,195,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of MetLife during the 2nd quarter worth approximately $26,000. Burk Holdings LLC bought a new position in shares of MetLife in the second quarter valued at approximately $27,000. Highland Investment Advisors LLC purchased a new stake in shares of MetLife during the second quarter valued at approximately $30,000. Garton & Associates Financial Advisors LLC bought a new stake in MetLife during the fourth quarter worth $30,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in MetLife during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.

MetLife Trading Up 1.1%

Shares of MetLife stock opened at $96.75 on Friday. The stock has a market capitalization of $62.25 billion, a P/E ratio of 18.53, a P/E/G ratio of 0.92 and a beta of 0.77. MetLife, Inc. has a 52-week low of $67.33 and a 52-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 stock’s 50-day simple moving average is $95.18 and its 200 day simple moving average is $84.04.

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, 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 firm had revenue of $13.52 billion during the quarter, compared to analyst estimates of $19.67 billion. During the same quarter last year, the business earned $2.02 earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, research analysts anticipate that MetLife, Inc. will post 9.78 EPS for the current year.

MetLife declared that its board has approved a share buyback program on Wednesday, August 5th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

MetLife Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Tuesday, August 4th were issued a $0.5925 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $2.37 annualized dividend and a yield of 2.4%. MetLife’s dividend payout ratio (DPR) is 45.40%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MET shares. TD Cowen raised their target price on MetLife from $87.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Barclays raised their price objective on shares of MetLife from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Morgan Stanley lifted their price objective on shares of MetLife from $103.00 to $111.00 and gave the stock an “overweight” rating in a research report on Monday, August 24th. Jefferies Financial Group increased their target price on shares of MetLife from $97.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Finally, Atlantic Securities set a $103.00 price target on shares of MetLife in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, MetLife currently has an average rating of “Buy” and a consensus target price of $102.21.

About MetLife

MetLife, Inc (NYSE: MET) is a global financial services company that provides insurance, employee benefits and retirement solutions to individuals, employers and institutions. Its offerings include life insurance, dental and vision insurance, disability coverage, accident and health insurance, annuities, and retirement products.

Through its employer-focused business, MetLife helps organizations provide benefits and financial protection to their employees. The company also offers group insurance, individual protection products and investment management services through MetLife Investment Management, which serves institutional investors and retirement plans.

Founded in 1868, MetLife serves customers in the United States and operates internationally across Latin America, Asia, Europe and the Middle East.