MetLife, Inc. $MET Stock Position Raised by ProShare Advisors LLC

ProShare Advisors LLC increased its stake in shares of MetLife, Inc. (NYSE:MET) by 4.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 142,269 shares of the financial services provider’s stock after purchasing an additional 6,317 shares during the quarter. ProShare Advisors LLC’s holdings in MetLife were worth $13,396,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of MetLife during the 2nd quarter worth approximately $26,000. Burk Holdings LLC acquired a new position in MetLife during the second quarter worth about $27,000. Nvwm LLC lifted its holdings in shares of MetLife by 655.3% in the third quarter. Nvwm LLC now owns 287 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 249 shares in the last quarter. Highland Investment Advisors LLC purchased a new stake in shares of MetLife in the second quarter valued at about $30,000. Finally, Elevation Wealth Partners LLC grew its position in shares of MetLife by 123.5% in the third quarter. Elevation Wealth Partners LLC now owns 362 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 200 shares during the last quarter. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MET. Piper Sandler upgraded MetLife from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $99.00 to $110.00 in a research report on Tuesday, September 22nd. Keefe, Bruyette & Woods lifted their price target on shares of MetLife from $105.00 to $108.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. UBS Group boosted their price objective on shares of MetLife from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, October 6th. Barclays raised their target price on shares of MetLife from $97.00 to $111.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. Finally, Argus lifted their target price on shares of MetLife from $93.00 to $109.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $105.44.

MetLife Stock Up 0.9%

Shares of MetLife stock opened at $100.92 on Tuesday. 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 business’s 50 day simple moving average is $97.82 and its 200-day simple moving average is $85.80. The stock has a market capitalization of $64.94 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 0.94 and a beta of 0.78. MetLife, Inc. has a twelve month low of $67.33 and a twelve month high of $103.65.

MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.13. MetLife had a return on equity of 23.39% and a net margin of 4.57%. The business had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $19.67 billion. During the same quarter last year, the business posted $2.02 EPS. The business’s revenue was up 10.5% on a year-over-year basis. Equities research analysts forecast that MetLife, Inc. will post 9.94 earnings per share for the current year.

MetLife Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Tuesday, November 3rd will be issued a $0.5925 dividend. The ex-dividend date of this dividend is Tuesday, November 3rd. This represents a $2.37 annualized dividend and a dividend yield of 2.3%. MetLife’s dividend payout ratio is currently 45.40%.

MetLife declared that its board has approved a share repurchase program on Wednesday, August 5th that permits the company to repurchase $3 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 4.8% of its stock through open market purchases. Share repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

MetLife 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.