Campbell & CO Investment Adviser LLC Takes $916,000 Position in MetLife, Inc. (NYSE:MET)

Campbell & CO Investment Adviser LLC purchased a new stake in shares of MetLife, Inc. (NYSE:MET) during the second quarter, Holdings Channel reports. The fund purchased 15,300 shares of the financial services provider’s stock, valued at approximately $916,000.

Other hedge funds have also recently made changes to their positions in the company. Mid Atlantic Financial Management Inc. ADV raised its position in shares of MetLife by 1.6% during the second quarter. Mid Atlantic Financial Management Inc. ADV now owns 10,836 shares of the financial services provider’s stock worth $649,000 after acquiring an additional 169 shares during the last quarter. Sandy Spring Bank increased its holdings in MetLife by 49.7% in the second quarter. Sandy Spring Bank now owns 536 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 178 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of MetLife by 1.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 10,969 shares of the financial services provider’s stock valued at $656,000 after acquiring an additional 185 shares in the last quarter. Kaizen Financial Strategies boosted its position in MetLife by 1.6% in the first quarter. Kaizen Financial Strategies now owns 12,182 shares of the financial services provider’s stock worth $741,000 after purchasing an additional 191 shares during the last quarter. Finally, Jacobi Capital Management LLC boosted its position in MetLife by 2.2% in the first quarter. Jacobi Capital Management LLC now owns 8,994 shares of the financial services provider’s stock worth $547,000 after purchasing an additional 196 shares during the last quarter. 74.60% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have weighed in on the company. boosted their price objective on MetLife from $69.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, June 21st. Zacks Investment Research raised MetLife from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research report on Tuesday, June 15th. Morgan Stanley upped their price target on MetLife from $73.00 to $74.00 and gave the company an “overweight” rating in a research report on Thursday, August 5th. Finally, TheStreet raised MetLife from a “c+” rating to a “b” rating in a research report on Wednesday, August 4th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, MetLife presently has an average rating of “Buy” and an average price target of $64.92.

Shares of NYSE:MET traded up $1.17 during midday trading on Wednesday, reaching $59.64. 172,711 shares of the company traded hands, compared to its average volume of 5,111,856. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.22. MetLife, Inc. has a 12 month low of $35.19 and a 12 month high of $67.68. The firm has a market capitalization of $51.11 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 1.02 and a beta of 1.31. The firm’s fifty day moving average price is $60.18 and its two-hundred day moving average price is $61.60.

MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, August 4th. The financial services provider reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.76. MetLife had a return on equity of 10.78% and a net margin of 6.61%. The company had revenue of $18.52 billion for the quarter, compared to analyst estimates of $15.84 billion. During the same period in the previous year, the company posted $0.83 EPS. The firm’s revenue for the quarter was up 33.8% compared to the same quarter last year. Analysts forecast that MetLife, Inc. will post 7.98 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 14th. Investors of record on Tuesday, August 10th were paid a dividend of $0.48 per share. The ex-dividend date was Monday, August 9th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.22%. MetLife’s payout ratio is 31.17%.

MetLife declared that its Board of Directors has authorized a share repurchase program on Wednesday, August 4th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

About MetLife

MetLife, Inc provides insurance and financial services to individual and institutional customers. It offers life insurance, annuities, automobile and homeowner’s insurance and retail banking services to individuals as well as group insurance, reinsurance and retirement and savings products and services.

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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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