6,140 Shares of MetLife, Inc. $MET Purchased by MBL Wealth LLC

MBL Wealth LLC purchased a new stake in shares of MetLife, Inc. (NYSE:MET) during the third quarter, HoldingsChannel reports. The institutional investor purchased 6,140 shares of the financial services provider’s stock, valued at approximately $578,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in MetLife in the 2nd quarter worth approximately $4,381,692,000. Pzena Investment Management LLC bought a new position in MetLife in the 2nd quarter valued at approximately $941,792,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in MetLife by 5.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,026,518 shares of the financial services provider’s stock valued at $509,904,000 after purchasing an additional 336,794 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of MetLife in the 2nd quarter worth $455,424,000. Finally, Legal & General Group Plc bought a new stake in shares of MetLife in the 2nd quarter worth $326,904,000. Institutional investors own 94.99% of the company’s stock.

Analyst Ratings Changes

MET has been the topic of a number of research analyst reports. UBS Group upped their price target on MetLife from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, October 6th. Piper Sandler raised MetLife from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $99.00 to $110.00 in a research report on Tuesday, September 22nd. Wells Fargo & Company lifted their price objective on MetLife from $109.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. Bank of America decreased their target price on MetLife from $106.00 to $103.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. Finally, Evercore restated a “mixed” rating on shares of MetLife in a research note on Monday, August 24th. Thirteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $105.44.

MetLife Trading Down 4.5%

NYSE:MET opened at $98.86 on Friday. The company has a market cap of $63.61 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 0.93 and a beta of 0.78. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.52. The company has a 50 day simple moving average of $97.27 and a two-hundred day simple moving average of $89.81. MetLife, Inc. has a 12 month low of $67.33 and a 12 month high of $103.65.

MetLife (NYSE:MET) last released its quarterly 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. The firm had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $19.67 billion. MetLife had a return on equity of 23.39% and a net margin of 4.57%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.02 EPS. Research analysts forecast that MetLife, Inc. will post 9.94 earnings per share for the current year.

MetLife Announces Dividend

The company also recently disclosed 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. This represents a $2.37 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Tuesday, November 3rd. MetLife’s dividend payout ratio is 45.40%.

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

MetLife Company Profile

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

Through its institutional and workplace businesses, MetLife helps employers provide benefits and retirement programs to their employees. The company also serves individual customers with protection and income products.