Seelaus Asset Management LLC grew its stake in MetLife, Inc. (NYSE:MET – Get Rating) by 7.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,606 shares of the financial services provider’s stock after purchasing an additional 525 shares during the quarter. Seelaus Asset Management LLC’s holdings in MetLife were worth $535,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Compton Capital Management Inc. RI raised its holdings in MetLife by 0.6% in the 4th quarter. Compton Capital Management Inc. RI now owns 26,683 shares of the financial services provider’s stock worth $1,667,000 after purchasing an additional 150 shares in the last quarter. Dumont & Blake Investment Advisors LLC raised its holdings in MetLife by 0.3% in the 4th quarter. Dumont & Blake Investment Advisors LLC now owns 44,370 shares of the financial services provider’s stock worth $2,773,000 after purchasing an additional 152 shares in the last quarter. Conning Inc. raised its holdings in MetLife by 0.3% in the 4th quarter. Conning Inc. now owns 48,029 shares of the financial services provider’s stock worth $3,001,000 after purchasing an additional 153 shares in the last quarter. Navalign LLC raised its holdings in MetLife by 1.5% in the 4th quarter. Navalign LLC now owns 10,689 shares of the financial services provider’s stock worth $668,000 after purchasing an additional 154 shares in the last quarter. Finally, Ranch Capital Advisors Inc. raised its holdings in MetLife by 0.7% in the 4th quarter. Ranch Capital Advisors Inc. now owns 22,272 shares of the financial services provider’s stock worth $1,392,000 after purchasing an additional 155 shares in the last quarter. Institutional investors and hedge funds own 89.65% of the company’s stock.
Shares of NYSE MET opened at $61.75 on Thursday. The firm’s 50-day moving average price is $65.87 and its 200-day moving average price is $66.28. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.27. The company has a market cap of $50.22 billion, a PE ratio of 8.00, a PEG ratio of 1.12 and a beta of 1.15. MetLife, Inc. has a 52-week low of $55.21 and a 52-week high of $73.18.
MetLife declared that its Board of Directors has authorized a stock buyback program on Wednesday, May 4th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 5.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 14th. Stockholders of record on Tuesday, May 10th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend was Monday, May 9th. This is a boost from MetLife’s previous quarterly dividend of $0.48. MetLife’s dividend payout ratio is 25.91%.
A number of analysts have recently weighed in on MET shares. Barclays upped their target price on shares of MetLife from $76.00 to $79.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 12th. JPMorgan Chase & Co. upped their target price on shares of MetLife from $69.00 to $75.00 in a research report on Tuesday, April 5th. Wolfe Research raised shares of MetLife from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $70.00 to $74.00 in a research report on Wednesday. Citigroup started coverage on shares of MetLife in a research report on Monday, May 23rd. They issued a “buy” rating and a $77.00 target price on the stock. Finally, Piper Sandler upped their target price on shares of MetLife from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 6th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.45.
About MetLife (Get Rating)
MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. 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, 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.
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