NEOS Investment Management LLC Has $7.59 Million Position in MetLife, Inc. $MET

NEOS Investment Management LLC increased its stake in MetLife, Inc. (NYSE:MET) by 13.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 89,717 shares of the financial services provider’s stock after acquiring an additional 10,646 shares during the period. NEOS Investment Management LLC’s holdings in MetLife were worth $7,591,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of MetLife during the second quarter worth $26,000. Burk Holdings LLC bought a new position in MetLife in the second quarter valued at about $27,000. Garton & Associates Financial Advisors LLC acquired a new stake in MetLife in the fourth quarter worth about $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in MetLife during the 4th quarter worth about $31,000. Finally, Prosperity Bancshares Inc bought a new stake in MetLife during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 94.99% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on MET shares. Atlantic Securities set a $103.00 target price on shares of MetLife in a research note on Wednesday, July 15th. Piper Sandler increased their price objective on shares of MetLife from $86.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, June 24th. Morgan Stanley raised their price objective on shares of MetLife from $103.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday, August 24th. Wall Street Zen raised MetLife from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. Finally, UBS Group lifted their price objective on MetLife from $102.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $102.21.

MetLife Stock Down 1.7%

Shares of NYSE:MET opened at $97.51 on Friday. MetLife, Inc. has a 52 week low of $67.33 and a 52 week high of $100.93. 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 company has a market capitalization of $62.74 billion, a PE ratio of 18.68, a PEG ratio of 0.94 and a beta of 0.77. The company has a 50 day moving average price of $94.42 and a two-hundred day moving average price of $83.50.

MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.13. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The company had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $19.67 billion. During the same period last year, the firm posted $2.02 earnings per share. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. Analysts forecast that MetLife, Inc. will post 9.76 earnings per share for the current year.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 4th will be given a dividend of $0.5925 per share. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.4%. MetLife’s dividend payout ratio (DPR) is currently 45.40%.

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

About MetLife

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.