Engineers Gate Manager LP Purchases 74,280 Shares of MetLife, Inc. $MET

Engineers Gate Manager LP raised its position in shares of MetLife, Inc. (NYSE:MET) by 268.1% during the 2nd quarter, Holdings Channel reports. The fund owned 101,990 shares of the financial services provider’s stock after purchasing an additional 74,280 shares during the period. Engineers Gate Manager LP’s holdings in MetLife were worth $8,629,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MET. Capital Analysts LLC raised its stake in MetLife by 0.3% during the second quarter. Capital Analysts LLC now owns 38,262 shares of the financial services provider’s stock valued at $3,238,000 after purchasing an additional 129 shares in the last quarter. Commonwealth Retirement Investments LLC grew its stake in shares of MetLife by 0.5% in the 4th quarter. Commonwealth Retirement Investments LLC now owns 26,953 shares of the financial services provider’s stock worth $2,128,000 after buying an additional 131 shares in the last quarter. CreativeOne Wealth LLC increased its holdings in shares of MetLife by 1.3% in the 4th quarter. CreativeOne Wealth LLC now owns 10,156 shares of the financial services provider’s stock worth $802,000 after buying an additional 135 shares during the last quarter. Kathmere Capital Management LLC raised its position in shares of MetLife by 2.4% during the 1st quarter. Kathmere Capital Management LLC now owns 5,813 shares of the financial services provider’s stock valued at $411,000 after buying an additional 136 shares in the last quarter. Finally, Worth Asset Management LLC lifted its holdings in shares of MetLife by 3.1% in the 2nd quarter. Worth Asset Management LLC now owns 4,551 shares of the financial services provider’s stock valued at $385,000 after acquiring an additional 138 shares during the last quarter. 94.99% of the stock is owned by hedge funds and other institutional investors.

MetLife Stock Performance

MetLife stock opened at $96.75 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.20 and a quick ratio of 0.20. The firm has a market capitalization of $62.25 billion, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 0.92 and a beta of 0.77. MetLife, Inc. has a 1-year low of $67.33 and a 1-year high of $100.93. The company’s 50-day moving average is $95.18 and its 200 day moving average is $84.04.

MetLife (NYSE:MET) last released its earnings results on Wednesday, August 5th. The financial services provider reported $2.43 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the firm posted $2.02 earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis. Research analysts forecast that MetLife, Inc. will post 9.78 EPS for the current year.

MetLife Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Tuesday, August 4th were given a $0.5925 dividend. This represents a $2.37 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, August 4th. MetLife’s dividend payout ratio is 45.40%.

MetLife announced that its Board of Directors has initiated a share buyback plan on Wednesday, August 5th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 4.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MET shares. Keefe, Bruyette & Woods lifted their price target on MetLife from $105.00 to $108.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Morgan Stanley raised their price objective on MetLife from $103.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday, August 24th. Weiss Ratings raised MetLife from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 15th. Mizuho increased their price target on MetLife from $95.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Finally, Evercore restated a “mixed” rating on shares of MetLife in a research report on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $102.21.

About MetLife

MetLife, Inc (NYSE: MET) is a global financial services company that provides insurance, employee benefits and retirement solutions to individuals, employers and institutions. Its offerings include life insurance, dental and vision insurance, disability coverage, accident and health insurance, annuities, and retirement products.

Through its employer-focused business, MetLife helps organizations provide benefits and financial protection to their employees. The company also offers group insurance, individual protection products and investment management services through MetLife Investment Management, which serves institutional investors and retirement plans.

Founded in 1868, MetLife serves customers in the United States and operates internationally across Latin America, Asia, Europe and the Middle East.