MetLife, Inc. $MET Shares Newly Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in MetLife, Inc. (NYSE:MET) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 140,743 shares of the financial services provider’s stock, valued at approximately $13,252,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Nykredit A S purchased a new position in MetLife in the second quarter valued at about $178,638,000. Two Sigma Securities LLC bought a new position in MetLife in the second quarter worth about $4,204,000. NewEdge Advisors LLC lifted its position in shares of MetLife by 20.1% during the second quarter. NewEdge Advisors LLC now owns 74,002 shares of the financial services provider’s stock valued at $6,261,000 after buying an additional 12,378 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of MetLife in the 2nd quarter valued at about $2,683,000. Finally, Bank of Nova Scotia bought a new stake in shares of MetLife in the 2nd quarter valued at about $14,182,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.

MetLife Stock Performance

MET opened at $100.67 on Wednesday. MetLife, Inc. has a 52-week low of $67.33 and a 52-week high of $103.65. 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 cap of $64.78 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 0.95 and a beta of 0.79. The firm’s 50-day moving average price is $97.91 and its 200-day moving average price is $85.91.

MetLife (NYSE:MET) last released its earnings results on Wednesday, August 5th. The financial services provider reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.13. The company 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%. MetLife’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the business earned $2.02 EPS. As a group, equities analysts anticipate that MetLife, Inc. will post 9.94 EPS for the current fiscal year.

MetLife Announces Dividend

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

MetLife announced that its board has authorized a stock buyback plan on Wednesday, August 5th that permits the company to buy back $3 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 4.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Argus lifted their price objective on shares of MetLife from $93.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. TD Cowen increased their target price on shares of MetLife from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Wednesday, October 21st. Weiss Ratings restated a “buy (b)” rating on shares of MetLife in a research note on Friday, September 11th. Morgan Stanley lifted their price target on shares of MetLife from $103.00 to $111.00 and gave the stock an “overweight” rating in a report on Monday, August 24th. Finally, Jefferies Financial Group upped their price target on MetLife from $103.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, MetLife has an average rating of “Moderate Buy” and a consensus target price of $105.44.

MetLife 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.