Bridgeworth LLC Raises Position in Metlife Inc (MET)

Bridgeworth LLC boosted its stake in Metlife Inc (NYSE:MET) by 28.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 5,799 shares of the financial services provider’s stock after buying an additional 1,300 shares during the quarter. Bridgeworth LLC’s holdings in Metlife were worth $212,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Kaizen Advisory LLC lifted its stake in Metlife by 148.0% in the 2nd quarter. Kaizen Advisory LLC now owns 2,515 shares of the financial services provider’s stock valued at $110,000 after buying an additional 1,501 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in Metlife in the 2nd quarter worth approximately $110,000. LFA Lugano Financial Advisors SA purchased a new position in Metlife in the 2nd quarter worth approximately $130,000. Tuttle Tactical Management purchased a new position in Metlife in the 2nd quarter worth approximately $144,000. Finally, CSat Investment Advisory L.P. purchased a new position in Metlife in the 2nd quarter worth approximately $168,000. 78.04% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of Metlife from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Friday, October 5th. UBS Group raised their target price on shares of Metlife from $48.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, October 8th. Wells Fargo & Co reissued a “buy” rating and issued a $60.00 target price on shares of Metlife in a research note on Thursday, September 27th. Sandler O’Neill reissued a “hold” rating and issued a $50.00 target price on shares of Metlife in a research note on Thursday, August 2nd. Finally, Credit Suisse Group decreased their target price on shares of Metlife from $67.00 to $63.00 and set an “outperform” rating on the stock in a research note on Friday, August 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $53.92.

MET opened at $42.99 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.14 and a current ratio of 0.14. Metlife Inc has a 1-year low of $39.31 and a 1-year high of $55.21. The company has a market capitalization of $42.42 billion, a price-to-earnings ratio of 9.55, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30.

Metlife (NYSE:MET) last announced its quarterly earnings results on Thursday, November 1st. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.11. The business had revenue of $16.40 billion during the quarter, compared to the consensus estimate of $15.88 billion. Metlife had a net margin of 7.62% and a return on equity of 9.76%. The business’s revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 EPS. Sell-side analysts forecast that Metlife Inc will post 5.35 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Tuesday, November 6th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, November 5th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.91%. Metlife’s dividend payout ratio is currently 37.33%.

Metlife announced that its Board of Directors has initiated a share buyback program on Thursday, November 1st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

In other news, Chairman Steven A. Kandarian sold 42,805 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $47.03, for a total transaction of $2,013,119.15. Following the completion of the sale, the chairman now owns 559,097 shares in the company, valued at approximately $26,294,331.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is owned by company insiders.

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Metlife Profile

MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short- and long-term disability, individual disability, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

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Institutional Ownership by Quarter for Metlife (NYSE:MET)

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