Flputnam Investment Management Co. Invests $465,000 in MetLife, Inc. $MET

Flputnam Investment Management Co. purchased a new stake in MetLife, Inc. (NYSE:MET) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,499 shares of the financial services provider’s stock, valued at approximately $465,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Activest Wealth Management grew its position in MetLife by 205.8% during the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 212 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in shares of MetLife in the fourth quarter valued at $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of MetLife in the fourth quarter worth $31,000. Prosperity Bancshares Inc acquired a new stake in shares of MetLife in the fourth quarter worth $31,000. Finally, JPL Wealth Management LLC purchased a new position in shares of MetLife during the third quarter valued at $33,000. Institutional investors and hedge funds own 94.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Jefferies Financial Group upped their price target on MetLife from $97.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Piper Sandler lifted their target price on MetLife from $86.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. TD Cowen upped their target price on MetLife from $87.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Wall Street Zen lowered shares of MetLife from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Mizuho raised their price target on shares of MetLife from $95.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. One 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $101.07.

MetLife Stock Down 1.0%

Shares of MET stock opened at $96.73 on Tuesday. MetLife, Inc. has a 12 month low of $67.33 and a 12 month high of $100.93. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.52. The firm has a market cap of $62.24 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 0.75 and a beta of 0.78. The stock has a 50 day moving average of $91.77 and a 200-day moving average of $81.72.

MetLife (NYSE:MET) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $2.43 EPS for the quarter, topping the consensus estimate of $2.30 by $0.13. The firm had revenue of $13.52 billion during 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%.MetLife’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period last year, the business earned $2.02 earnings per share. On average, equities analysts predict that MetLife, Inc. will post 9.7 EPS for the current year.

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 2.5%. The ex-dividend date of this dividend is Tuesday, August 4th. MetLife’s dividend payout ratio (DPR) is 45.40%.

MetLife declared that its Board of Directors has initiated a share buyback program on Wednesday, August 5th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 4.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

MetLife 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.