9,313 Shares in MetLife, Inc. $MET Acquired by Simplicity Wealth LLC

Simplicity Wealth LLC bought a new position in MetLife, Inc. (NYSE:MET) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,313 shares of the financial services provider’s stock, valued at approximately $788,000.

Several other large investors have also recently made changes to their positions in the business. Brighton Jones LLC raised its position in MetLife by 9.0% in the 4th quarter. Brighton Jones LLC now owns 4,240 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 351 shares during the period. Caxton Associates LLP purchased a new position in shares of MetLife in the first quarter worth about $307,000. Empowered Funds LLC lifted its stake in shares of MetLife by 187.6% in the 1st quarter. Empowered Funds LLC now owns 33,378 shares of the financial services provider’s stock valued at $2,680,000 after acquiring an additional 21,771 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in MetLife in the 2nd quarter worth approximately $404,000. Finally, Jump Financial LLC purchased a new position in MetLife in the 2nd quarter worth approximately $444,000. 94.99% of the stock is owned by hedge funds and other institutional investors.

MetLife Trading Down 0.1%

NYSE:MET opened at $97.57 on Monday. MetLife, Inc. has a one year low of $67.33 and a one year high of $100.93. The company’s 50-day simple moving average is $91.52 and its 200 day simple moving average is $81.58. The firm has a market capitalization of $62.78 billion, a P/E ratio of 18.69, a PEG ratio of 0.75 and a beta of 0.78. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.20 and a quick ratio of 0.20.

MetLife (NYSE:MET) last released its earnings results on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share (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 firm had revenue of $13.52 billion during the quarter, compared to analyst estimates of $19.67 billion. During the same period last year, the business earned $2.02 earnings per share. The business’s revenue was up 10.5% on a year-over-year basis. As a group, analysts forecast that MetLife, Inc. will post 9.7 EPS for the current fiscal year.

MetLife announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 5th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 4.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

MetLife Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 4th will be paid a $0.5925 dividend. This represents a $2.37 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, August 4th. MetLife’s dividend payout ratio is currently 45.40%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Morgan Stanley increased their price objective on MetLife from $93.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Wall Street Zen downgraded MetLife from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Mizuho increased their price objective on MetLife from $95.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Piper Sandler raised their target price on shares of MetLife from $86.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. Finally, Barclays lifted their target price on shares of MetLife from $94.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, MetLife presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.07.

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.