MetLife, Inc. (NYSE:MET) Shares Purchased by Plato Investment Management Ltd

Plato Investment Management Ltd increased its position in shares of MetLife, Inc. (NYSE:MET) by 921.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,790 shares of the financial services provider’s stock after purchasing an additional 16,048 shares during the period. Plato Investment Management Ltd’s holdings in MetLife were worth $1,318,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Criterion Capital Advisors LLC acquired a new stake in shares of MetLife during the fourth quarter worth about $26,000. GoalVest Advisory LLC lifted its stake in MetLife by 73.3% in the first quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider’s stock valued at $29,000 after buying an additional 165 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new position in shares of MetLife during the fourth quarter worth approximately $34,000. Pineridge Advisors LLC acquired a new position in shares of MetLife in the 4th quarter valued at $39,000. Finally, DT Investment Partners LLC purchased a new position in MetLife during the 4th quarter worth $40,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

MetLife Price Performance

NYSE:MET traded down $1.07 during trading hours on Thursday, reaching $75.78. 5,238,619 shares of the company traded hands, compared to its average volume of 3,330,505. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The firm’s 50-day moving average is $71.90 and its 200-day moving average is $71.16. The stock has a market cap of $53.89 billion, a P/E ratio of 26.04, a P/E/G ratio of 0.66 and a beta of 1.11. MetLife, Inc. has a 1-year low of $57.91 and a 1-year high of $79.34.

MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.15. MetLife had a return on equity of 20.39% and a net margin of 3.50%. The business had revenue of $17.82 billion for the quarter, compared to analyst estimates of $18.57 billion. During the same quarter last year, the company earned $1.94 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts expect that MetLife, Inc. will post 8.59 earnings per share for the current fiscal year.

MetLife announced that its board has authorized a share buyback plan on Wednesday, May 1st that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

MetLife Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 6th will be paid a $0.545 dividend. The ex-dividend date is Tuesday, August 6th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.88%. MetLife’s dividend payout ratio (DPR) is currently 74.91%.

Analysts Set New Price Targets

MET has been the subject of several recent research reports. Piper Sandler decreased their target price on shares of MetLife from $85.00 to $82.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. StockNews.com cut MetLife from a “buy” rating to a “hold” rating in a research note on Monday, July 1st. 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 research report on Wednesday, July 10th. Bank of America cut their price objective on shares of MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Wells Fargo & Company dropped their price target on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, MetLife has an average rating of “Moderate Buy” and a consensus price target of $82.14.

MetLife Profile

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.