TCM Advisors LLC Acquires Shares of 10,000 MetLife, Inc. $MET

TCM Advisors LLC bought a new stake in shares of MetLife, Inc. (NYSE:MET) in the 2nd quarter, Holdings Channel reports. The fund bought 10,000 shares of the financial services provider’s stock, valued at approximately $846,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Activest Wealth Management raised its position in shares of MetLife by 205.8% in the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 212 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in MetLife in the second quarter valued at $26,000. Burk Holdings LLC bought a new position in MetLife during the 2nd quarter valued at $27,000. Garton & Associates Financial Advisors LLC acquired a new position in MetLife during the 4th quarter worth $30,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of MetLife in the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.

Analyst Ratings Changes

MET has been the subject of several research analyst reports. Wall Street Zen raised MetLife from a “hold” rating to a “buy” rating in a report on Saturday. Morgan Stanley boosted their price target on MetLife from $93.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Wells Fargo & Company raised their price objective on MetLife from $101.00 to $109.00 and gave the stock an “overweight” rating in a research note on Wednesday. Piper Sandler boosted their target price on shares of MetLife from $86.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. Finally, Atlantic Securities set a $103.00 price target on shares of MetLife in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $101.64.

MetLife Stock Performance

MET opened at $94.44 on Monday. 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 moving average is $92.41 and its 200-day moving average is $82.19. The stock has a market cap of $60.77 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 0.73 and a beta of 0.78. MetLife, Inc. has a twelve month low of $67.33 and a twelve month high of $100.93.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $2.43 EPS for the quarter, beating 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 firm 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 earned $2.02 EPS. The firm’s revenue was up 10.5% compared to the same quarter last year. On average, analysts predict that MetLife, Inc. will post 9.72 earnings per share for the current year.

MetLife Announces Dividend

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 paid a $0.5925 dividend. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $2.37 annualized dividend and a dividend yield of 2.5%. MetLife’s dividend payout ratio is presently 45.40%.

MetLife announced that its Board of Directors has authorized a share repurchase plan 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 purchase up to 4.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

MetLife Company 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.