GAMMA Investing LLC Buys 1,665 Shares of MetLife, Inc. (NYSE:MET)

GAMMA Investing LLC lifted its holdings in shares of MetLife, Inc. (NYSE:MET) by 41.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,651 shares of the financial services provider’s stock after buying an additional 1,665 shares during the period. GAMMA Investing LLC’s holdings in MetLife were worth $397,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MET. GoalVest Advisory LLC increased its stake in MetLife by 73.3% in the 1st quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 165 shares during the last quarter. Criterion Capital Advisors LLC purchased a new position in MetLife during the 4th quarter valued at $26,000. Tennessee Valley Asset Management Partners purchased a new position in MetLife during the 4th quarter valued at $34,000. Rise Advisors LLC lifted its holdings in shares of MetLife by 114.7% in the 1st quarter. Rise Advisors LLC now owns 556 shares of the financial services provider’s stock worth $41,000 after buying an additional 297 shares during the period. Finally, DT Investment Partners LLC purchased a new stake in shares of MetLife in the 4th quarter worth $40,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MET has been the subject of several recent research reports. Morgan Stanley boosted their price target on MetLife from $82.00 to $83.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Jefferies Financial Group upped their target price on MetLife from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Piper Sandler lowered their price target on MetLife from $85.00 to $82.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. Keefe, Bruyette & Woods lowered their price target on MetLife from $86.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. Finally, Citigroup increased their target price on MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, MetLife presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.77.

MetLife Trading Down 4.0 %

MET stock traded down $2.84 during midday trading on Monday, hitting $67.72. 3,628,333 shares of the company’s stock were exchanged, compared to its average volume of 3,355,574. MetLife, Inc. has a 1-year low of $57.91 and a 1-year high of $79.34. The business has a 50-day simple moving average of $71.94 and a two-hundred day simple moving average of $71.25. The stock has a market capitalization of $48.16 billion, a PE ratio of 23.32, a P/E/G ratio of 0.65 and a beta of 1.11. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.56.

MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $2.28 EPS for the quarter, topping the consensus estimate of $2.13 by $0.15. The business had revenue of $17.82 billion during the quarter, compared to analyst estimates of $18.57 billion. MetLife had a return on equity of 21.41% and a net margin of 4.23%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the business posted $1.94 earnings per share. On average, sell-side analysts predict that MetLife, Inc. will post 8.62 EPS for the current fiscal year.

MetLife Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 6th will be given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Tuesday, August 6th. MetLife’s dividend payout ratio (DPR) is currently 74.91%.

MetLife declared that its Board of Directors has initiated a stock buyback plan on Wednesday, May 1st that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

MetLife Profile

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; 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, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.