Global Retirement Partners LLC Purchases New Shares in MetLife, Inc. $MET

Global Retirement Partners LLC acquired a new position in MetLife, Inc. (NYSE:MET) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 14,832 shares of the financial services provider’s stock, valued at approximately $1,255,000.

Other large investors have also modified their holdings of the company. Commonwealth Retirement Investments LLC grew its position in shares of MetLife by 0.5% in the fourth quarter. Commonwealth Retirement Investments LLC now owns 26,953 shares of the financial services provider’s stock valued at $2,128,000 after purchasing an additional 131 shares in the last quarter. CreativeOne Wealth LLC increased its position in shares of MetLife by 1.3% during the 4th quarter. CreativeOne Wealth LLC now owns 10,156 shares of the financial services provider’s stock worth $802,000 after purchasing an additional 135 shares during the last quarter. Kathmere Capital Management LLC raised its stake in shares of MetLife by 2.4% in the 1st quarter. Kathmere Capital Management LLC now owns 5,813 shares of the financial services provider’s stock valued at $411,000 after acquiring an additional 136 shares during the period. Worth Asset Management LLC raised its position in MetLife by 3.1% in the second quarter. Worth Asset Management LLC now owns 4,551 shares of the financial services provider’s stock valued at $385,000 after purchasing an additional 138 shares during the period. Finally, Bleakley Financial Group LLC raised its holdings in shares of MetLife by 0.5% in the 4th quarter. Bleakley Financial Group LLC now owns 29,687 shares of the financial services provider’s stock valued at $2,343,000 after buying an additional 141 shares during the period. Hedge funds and other institutional investors own 94.99% of the company’s stock.

Analyst Ratings Changes

MET has been the subject of a number of recent research reports. Morgan Stanley lifted their target price 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 lifted their price target on shares of MetLife from $95.00 to $101.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Keefe, Bruyette & Woods boosted their price objective on MetLife from $105.00 to $108.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. upped their target price on shares of MetLife from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Finally, Piper Sandler upped their price target on MetLife from $86.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, MetLife presently has an average rating of “Moderate Buy” and an average price target of $101.07.

MetLife Price Performance

NYSE:MET opened at $96.73 on Tuesday. MetLife, Inc. has a 12-month low of $67.33 and a 12-month high of $100.93. The company’s 50-day moving average is $91.77 and its two-hundred day moving average is $81.72. The firm has a market cap of $62.24 billion, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 0.75 and a beta of 0.78. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.52.

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, beating 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 analyst estimates of $19.67 billion. During the same quarter last year, the business earned $2.02 EPS. MetLife’s revenue for the quarter was up 10.5% on a year-over-year basis. Research analysts expect that MetLife, Inc. will post 9.7 EPS for the current year.

MetLife Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Tuesday, August 4th will be issued a dividend of $0.5925 per share. The ex-dividend date is Tuesday, August 4th. This represents a $2.37 annualized dividend and a dividend yield of 2.5%. MetLife’s payout ratio is presently 45.40%.

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

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.