SWS Partners Makes New Investment in MetLife, Inc. $MET

SWS Partners purchased a new position in MetLife, Inc. (NYSE:MET) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 37,176 shares of the financial services provider’s stock, valued at approximately $3,145,000.

A number of other hedge funds also recently modified their holdings of MET. Brighton Jones LLC increased its stake in MetLife by 9.0% during the 4th quarter. Brighton Jones LLC now owns 4,240 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 351 shares in the last quarter. Caxton Associates LLP bought a new position in MetLife in the first quarter valued at approximately $307,000. Empowered Funds LLC boosted its holdings in shares of MetLife by 187.6% in the first quarter. Empowered Funds LLC now owns 33,378 shares of the financial services provider’s stock valued at $2,680,000 after buying an additional 21,771 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of MetLife in the second quarter valued at approximately $404,000. Finally, Jump Financial LLC bought a new stake in shares of MetLife during the second quarter worth $444,000. Institutional investors and hedge funds own 94.99% of the company’s stock.

MetLife Price Performance

NYSE MET opened at $97.57 on Friday. The firm’s 50 day moving average is $91.52 and its 200-day moving average is $81.55. 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 company has a market capitalization of $62.78 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 0.75 and a beta of 0.78. MetLife, Inc. has a 12-month low of $67.33 and a 12-month high of $100.93.

MetLife (NYSE:MET) last announced 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 business had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $19.67 billion. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The firm’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.02 earnings per share. Equities research analysts anticipate that MetLife, Inc. will post 9.7 earnings per share for the current fiscal year.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders 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 annualized dividend and a yield of 2.4%. MetLife’s payout ratio is 45.40%.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Atlantic Securities set a $103.00 price objective on shares of MetLife in a report on Wednesday, July 15th. Weiss Ratings upgraded MetLife from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 15th. Jefferies Financial Group increased their target price on MetLife from $97.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, July 10th. TD Cowen boosted their price target on MetLife from $87.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Finally, Piper Sandler upped their price objective on MetLife from $86.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $101.07.

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.