LGT Group Foundation Purchases New Position in MetLife, Inc. (NYSE:MET)

LGT Group Foundation acquired a new position in shares of MetLife, Inc. (NYSE:MET) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 3,230 shares of the financial services provider’s stock, valued at approximately $214,000.

A number of other large investors also recently modified their holdings of the stock. Great Valley Advisor Group Inc. raised its position in MetLife by 1.9% in the 4th quarter. Great Valley Advisor Group Inc. now owns 8,898 shares of the financial services provider’s stock valued at $588,000 after buying an additional 167 shares during the last quarter. Eley Financial Management Inc boosted its holdings in MetLife by 1.0% during the third quarter. Eley Financial Management Inc now owns 16,348 shares of the financial services provider’s stock worth $1,028,000 after purchasing an additional 168 shares during the last quarter. Austin Private Wealth LLC grew its position in MetLife by 4.1% in the 4th quarter. Austin Private Wealth LLC now owns 4,367 shares of the financial services provider’s stock worth $289,000 after purchasing an additional 170 shares in the last quarter. KLCM Advisors Inc. increased its stake in MetLife by 3.6% in the 3rd quarter. KLCM Advisors Inc. now owns 4,920 shares of the financial services provider’s stock valued at $310,000 after buying an additional 171 shares during the last quarter. Finally, Highland Capital Management LLC lifted its position in shares of MetLife by 0.3% during the 4th quarter. Highland Capital Management LLC now owns 61,738 shares of the financial services provider’s stock worth $4,083,000 after buying an additional 180 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MET. Wells Fargo & Company upped their target price on MetLife from $83.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Piper Sandler raised their target price on MetLife from $74.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Morgan Stanley lifted their target price on MetLife from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. UBS Group decreased their price objective on shares of MetLife from $87.00 to $82.00 and set a “buy” rating for the company in a report on Monday, February 5th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of MetLife from $82.00 to $87.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, MetLife has an average rating of “Moderate Buy” and an average price target of $79.23.

MetLife Stock Up 0.4 %

MET stock opened at $70.52 on Friday. The stock has a 50-day simple moving average of $71.64 and a two-hundred day simple moving average of $67.40. MetLife, Inc. has a twelve month low of $48.95 and a twelve month high of $74.68. The firm has a market capitalization of $50.29 billion, a PE ratio of 24.23, a PEG ratio of 0.53 and a beta of 1.03. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58.

MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.83 EPS for the quarter, meeting the consensus estimate of $1.83. The company had revenue of $17.02 billion during 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%. MetLife’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.52 earnings per share. On average, equities analysts predict that MetLife, Inc. will post 8.71 EPS for the current fiscal year.

MetLife Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 7th will be paid a $0.545 dividend. This is a positive change from MetLife’s previous quarterly dividend of $0.52. This represents a $2.18 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Monday, May 6th. MetLife’s dividend payout ratio is currently 71.48%.

MetLife declared that its board has approved a stock repurchase 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 purchase up to 6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at MetLife

In related news, insider Ramy Tadros sold 4,026 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $71.90, for a total value of $289,469.40. Following the transaction, the insider now directly owns 146,981 shares in the company, valued at $10,567,933.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Bill Pappas sold 27,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 57,768 shares in the company, valued at approximately $4,174,893.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ramy Tadros sold 4,026 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total value of $289,469.40. Following the completion of the sale, the insider now owns 146,981 shares of the company’s stock, 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.

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.