NBT Bank N.A. Purchases New Position in MetLife, Inc. $MET

NBT Bank N.A. acquired a new position in MetLife, Inc. (NYSE:MET) during the third quarter, Holdings Channel reports. The institutional investor acquired 11,547 shares of the financial services provider’s stock, valued at approximately $1,087,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of MET. BlackRock Inc. bought a new stake in shares of MetLife in the 2nd quarter worth approximately $4,381,692,000. Pzena Investment Management LLC bought a new position in MetLife during the second quarter worth about $941,792,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in MetLife by 5.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,026,518 shares of the financial services provider’s stock valued at $509,904,000 after purchasing an additional 336,794 shares in the last quarter. Bank of America Corp DE acquired a new stake in MetLife during the second quarter valued at approximately $455,424,000. Finally, Legal & General Group Plc bought a new stake in shares of MetLife in the 2nd quarter valued at approximately $326,904,000. 94.99% of the stock is currently owned by institutional investors and hedge funds.

MetLife Price Performance

Shares of MET stock opened at $98.86 on Friday. The stock’s fifty day moving average is $97.27 and its 200-day moving average is $89.81. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.20 and a current ratio of 0.20. The stock has a market capitalization of $63.61 billion, a PE ratio of 18.94, a PEG ratio of 0.98 and a beta of 0.78. MetLife, Inc. has a 52 week low of $67.33 and a 52 week high of $103.65.

MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.13. The business 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%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.02 earnings per share. Equities research analysts expect that MetLife, Inc. will post 9.94 EPS for the current fiscal year.

MetLife announced that its board has approved a stock buyback plan on Wednesday, August 5th that authorizes the company to buy back $3.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 4.8% of its shares through open market purchases. Share buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

MetLife Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Tuesday, November 3rd will be given a $0.5925 dividend. This represents a $2.37 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, November 3rd. MetLife’s dividend payout ratio (DPR) is presently 45.40%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on MetLife from $108.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, October 15th. Atlantic Securities set a $103.00 price objective on MetLife in a research note on Wednesday, July 15th. Argus boosted their target price on shares of MetLife from $93.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Bank of America dropped their target price on shares of MetLife from $106.00 to $103.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. Finally, Morgan Stanley boosted their price target on shares of MetLife from $103.00 to $111.00 and gave the company an “overweight” rating in a research report on Monday, August 24th. Thirteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, MetLife presently has an average rating of “Moderate Buy” and an average target price of $105.44.

MetLife Company 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.