Metis Global Partners LLC Trims Stock Position in MetLife, Inc. (NYSE:MET)

Metis Global Partners LLC lessened its holdings in MetLife, Inc. (NYSE:MET) by 0.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 33,745 shares of the financial services provider’s stock after selling 313 shares during the quarter. Metis Global Partners LLC’s holdings in MetLife were worth $2,232,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Criterion Capital Advisors LLC purchased a new position in shares of MetLife during the 4th quarter worth about $26,000. Quintet Private Bank Europe S.A. purchased a new position in shares of MetLife in the 3rd quarter valued at about $28,000. Planned Solutions Inc. acquired a new position in shares of MetLife during the 4th quarter worth about $28,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of MetLife in the fourth quarter valued at about $34,000. Finally, Headlands Technologies LLC purchased a new stake in shares of MetLife in the third quarter valued at about $36,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

MetLife Price Performance

MET stock opened at $71.86 on Tuesday. The stock has a 50-day simple moving average of $71.71 and a 200-day simple moving average of $67.57. The firm has a market cap of $51.10 billion, a P/E ratio of 24.46, a price-to-earnings-growth ratio of 0.56 and a beta of 1.03. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. MetLife, Inc. has a 1 year low of $48.95 and a 1 year high of $74.68.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, May 1st. The financial services provider reported $1.83 EPS for the quarter, hitting analysts’ consensus estimates of $1.83. The business had revenue of $17.02 billion for the quarter, compared to analysts’ expectations of $17.73 billion. MetLife had a net margin of 3.50% and a return on equity of 20.39%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.52 earnings per share. On average, equities analysts predict that MetLife, Inc. will post 8.69 earnings per share for the current fiscal year.

MetLife announced that its Board of Directors has authorized a share buyback program on Wednesday, May 1st that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

MetLife Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 7th 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 3.03%. This is a positive change from MetLife’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, May 6th. MetLife’s payout ratio is presently 71.48%.

Insider Buying and Selling

In other MetLife news, EVP Bill Pappas sold 27,000 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $72.27, for a total value of $1,951,290.00. Following the transaction, the executive vice president now directly owns 57,768 shares of the company’s stock, valued at approximately $4,174,893.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Bill Pappas sold 27,000 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $72.27, for a total value of $1,951,290.00. Following the completion of the sale, the executive vice president now owns 57,768 shares of the company’s stock, valued at approximately $4,174,893.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ramy Tadros sold 4,026 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total transaction of $289,469.40. Following the transaction, the insider now directly owns 146,981 shares in the company, valued at approximately $10,567,933.90. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

MET has been the subject of several research reports. Wells Fargo & Company lifted their target price on MetLife from $83.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. UBS Group decreased their target price on shares of MetLife from $87.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, February 5th. Morgan Stanley raised their target price on MetLife from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods upped their target price on MetLife from $82.00 to $87.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Finally, StockNews.com raised MetLife from a “hold” rating to a “buy” rating in a research report on Friday. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.00.

About MetLife

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.