Pacer Advisors Inc. Increases Stake in Metlife Inc (MET)

Pacer Advisors Inc. grew its position in Metlife Inc (NYSE:MET) by 13.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 53,938 shares of the financial services provider’s stock after purchasing an additional 6,581 shares during the period. Pacer Advisors Inc.’s holdings in Metlife were worth $2,520,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Flagship Harbor Advisors LLC acquired a new stake in Metlife during the second quarter worth about $110,000. Honkamp Krueger Financial Services Inc. acquired a new stake in Metlife during the third quarter worth about $125,000. LFA Lugano Financial Advisors SA acquired a new stake in Metlife during the second quarter worth about $130,000. Tuttle Tactical Management acquired a new stake in Metlife during the second quarter worth about $144,000. Finally, CSat Investment Advisory L.P. acquired a new stake in Metlife during the second quarter worth about $168,000. 77.33% of the stock is currently owned by institutional investors and hedge funds.

Shares of MET opened at $38.89 on Friday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.28. Metlife Inc has a 12 month low of $38.81 and a 12 month high of $55.21. The company has a market capitalization of $38.38 billion, a price-to-earnings ratio of 7.55, a price-to-earnings-growth ratio of 0.58 and a beta of 1.28.

Metlife (NYSE:MET) last issued its quarterly earnings data on Thursday, November 1st. The financial services provider reported $1.38 EPS for the quarter, beating the consensus estimate of $1.27 by $0.11. Metlife had a return on equity of 9.76% and a net margin of 7.62%. The company had revenue of $16.40 billion for the quarter, compared to analyst estimates of $15.88 billion. During the same period last year, the company earned $1.09 earnings per share. Metlife’s quarterly revenue was down 2.2% compared to the same quarter last year. Research analysts anticipate that Metlife Inc will post 5.35 earnings per share for the current year.

Metlife announced that its Board of Directors has approved a stock repurchase plan on Thursday, November 1st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 13th. Shareholders of record on Tuesday, November 6th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend was Monday, November 5th. Metlife’s payout ratio is currently 37.33%.

MET has been the topic of several analyst reports. Zacks Investment Research raised Metlife from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Monday, September 3rd. Wells Fargo & Co reaffirmed a “buy” rating and set a $60.00 target price on shares of Metlife in a report on Thursday, September 27th. UBS Group raised their target price on Metlife from $48.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, October 8th. Finally, Morgan Stanley raised their target price on Metlife from $52.00 to $54.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $53.92.

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About Metlife

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.

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Institutional Ownership by Quarter for Metlife (NYSE:MET)

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