Louisiana State Employees Retirement System Buys Shares of 28,100 MetLife, Inc. $MET

Louisiana State Employees Retirement System bought a new position in shares of MetLife, Inc. (NYSE:MET) in the 1st quarter, HoldingsChannel reports. The fund bought 28,100 shares of the financial services provider’s stock, valued at approximately $1,987,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Activest Wealth Management boosted its position in shares of MetLife by 205.8% during the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock worth $25,000 after buying an additional 212 shares during the period. Vermillion & White Wealth Management Group LLC lifted its stake in MetLife by 790.0% during the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 316 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in MetLife by 58.9% during the 4th quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 142 shares during the period. Garton & Associates Financial Advisors LLC acquired a new position in MetLife in the 4th quarter valued at about $30,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in MetLife in the 4th quarter valued at about $31,000. 94.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of MetLife from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Weiss Ratings raised shares of MetLife from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 15th. Wells Fargo & Company raised their price target on shares of MetLife from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Evercore set a $96.00 price target on shares of MetLife in a research note on Thursday, April 9th. Finally, TD Cowen cut their price objective on MetLife from $91.00 to $88.00 and set a “buy” rating on the stock in a research report on Wednesday, March 11th. One equities research 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 stock. According to data from MarketBeat, MetLife has a consensus rating of “Moderate Buy” and a consensus price target of $95.62.

MetLife Price Performance

Shares of MET opened at $84.68 on Wednesday. MetLife, Inc. has a twelve month low of $67.33 and a twelve month high of $89.62. The firm’s fifty day simple moving average is $82.41 and its 200-day simple moving average is $78.17. The firm has a market capitalization of $54.48 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 0.64 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 0.53.

MetLife (NYSE:MET) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.15. The firm had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $19.49 billion. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.96 earnings per share. Equities analysts forecast that MetLife, Inc. will post 10 EPS for the current fiscal year.

MetLife Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 12th were given a dividend of $0.5925 per share. This is a boost from MetLife’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.37 annualized dividend and a dividend yield of 2.8%. MetLife’s dividend payout ratio is 45.93%.

Key MetLife News

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: CNBC highlighted MetLife as an insurance stock with strong momentum and noted it may still be underpriced relative to its life insurance and benefits fundamentals, which could support investor sentiment. This insurance stock is on an impressive run. How to ride the momentum with less risk
• Positive Sentiment: MetLife issued a preliminary update showing Q2 variable investment income is expected to land between $220 million and $270 million, which gives investors a fresh read on a key earnings driver. MetLife Issues Cautious Update on Variable Investment Income
• Neutral Sentiment: Several articles about World Cup matches at MetLife Stadium, ticket sales, weather, travel, and parking are driving attention to the venue, but they are unlikely to materially affect MetLife’s insurance business or stock valuation.
• Neutral Sentiment: Coverage of France’s complaints about the MetLife Stadium turf adds some controversy around the venue, but this is more of a sports headline than a meaningful corporate issue for MetLife shareholders.

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.