Twin Capital Management Inc. decreased its holdings in shares of MetLife, Inc. (NYSE:MET – Get Rating) by 14.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,733 shares of the financial services provider’s stock after selling 1,750 shares during the period. Twin Capital Management Inc.’s holdings in MetLife were worth $754,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in MET. Missouri Trust & Investment Co purchased a new stake in shares of MetLife during the 4th quarter worth approximately $26,000. Sandy Cove Advisors LLC purchased a new stake in shares of MetLife during the 4th quarter worth approximately $30,000. AHL Investment Management Inc. purchased a new stake in shares of MetLife during the 4th quarter worth approximately $31,000. Stonebridge Capital Advisors LLC boosted its stake in shares of MetLife by 91.1% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 535 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 255 shares in the last quarter. Finally, Cornerstone Advisory LLC purchased a new stake in MetLife in the 4th quarter valued at approximately $36,000. Institutional investors and hedge funds own 89.65% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently issued reports on MET. JPMorgan Chase & Co. reduced their target price on MetLife from $75.00 to $74.00 in a research note on Monday, July 11th. StockNews.com lowered MetLife from a “buy” rating to a “hold” rating in a research note on Wednesday, May 11th. Evercore ISI reduced their target price on MetLife from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 6th. Morgan Stanley upped their target price on MetLife from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Citigroup began coverage on MetLife in a research note on Monday, May 23rd. They issued a “buy” rating and a $77.00 target price on the stock. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, MetLife has an average rating of “Moderate Buy” and a consensus target price of $76.45.
MetLife Trading Up 0.3 %
MetLife (NYSE:MET – Get Rating) last released its quarterly earnings data on Wednesday, May 4th. The financial services provider reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.45. The business had revenue of $17.72 billion during the quarter, compared to the consensus estimate of $16.81 billion. MetLife had a return on equity of 11.56% and a net margin of 5.26%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.20 EPS. Analysts anticipate that MetLife, Inc. will post 6.9 earnings per share for the current year.
MetLife Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 14th. Stockholders of record on Tuesday, August 9th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, August 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.13%. MetLife’s payout ratio is 49.75%.
MetLife announced that its board has approved a share repurchase program on Wednesday, May 4th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
MetLife Company Profile
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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