HBK Sorce Advisory LLC Has $1.70 Million Holdings in MetLife, Inc. (NYSE:MET)

HBK Sorce Advisory LLC trimmed its holdings in MetLife, Inc. (NYSE:MET) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,919 shares of the financial services provider’s stock after selling 425 shares during the period. HBK Sorce Advisory LLC’s holdings in MetLife were worth $1,699,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Norges Bank bought a new stake in MetLife during the 4th quarter worth approximately $558,460,000. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of MetLife during the fourth quarter worth $52,752,000. Dimensional Fund Advisors LP lifted its position in MetLife by 20.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,053,851 shares of the financial services provider’s stock valued at $268,090,000 after acquiring an additional 700,788 shares in the last quarter. Groupama Asset Managment bought a new position in MetLife during the 4th quarter worth about $28,425,000. Finally, SG Americas Securities LLC raised its stake in shares of MetLife by 144.3% in the 1st quarter. SG Americas Securities LLC now owns 106,686 shares of the financial services provider’s stock valued at $7,906,000 after purchasing an additional 347,547 shares during the period. 89.81% of the stock is currently owned by institutional investors.

MetLife Stock Performance

MET stock traded down $0.61 during midday trading on Friday, reaching $74.78. 2,002,838 shares of the company were exchanged, compared to its average volume of 3,339,335. The firm has a market capitalization of $53.18 billion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 0.66 and a beta of 1.11. The business has a 50-day moving average price of $71.45 and a two-hundred day moving average price of $70.68. MetLife, Inc. has a one year low of $57.91 and a one year high of $76.90. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16.

MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $1.83 EPS for the quarter, meeting analysts’ consensus estimates of $1.83. The business had revenue of $17.02 billion for the quarter, compared to analyst estimates of $17.73 billion. MetLife had a net margin of 3.50% and a return on equity of 20.39%. MetLife’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.52 EPS. Equities research analysts forecast that MetLife, Inc. will post 8.59 EPS for the current year.

MetLife declared that its Board of Directors has approved a stock 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 purchase up to 6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

MetLife Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 6th will be issued a dividend of $0.545 per share. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $2.18 annualized dividend and a yield of 2.92%. MetLife’s payout ratio is currently 74.91%.

Wall Street Analysts Forecast Growth

MET has been the subject of a number of research reports. Wells Fargo & Company decreased their price objective on MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Morgan Stanley lifted their price objective on shares of MetLife from $82.00 to $83.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Piper Sandler reduced their target price on shares of MetLife from $85.00 to $82.00 and set an “overweight” rating for the company in a report on Monday, May 6th. Jefferies Financial Group lifted their price target on shares of MetLife from $83.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. increased their price objective on shares of MetLife from $81.00 to $86.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 2nd. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, MetLife currently has an average rating of “Moderate Buy” and a consensus target price of $80.46.

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.