Rafferty Asset Management LLC Has $16.80 Million Stake in MetLife, Inc. (NYSE:MET)

Rafferty Asset Management LLC lifted its stake in shares of MetLife, Inc. (NYSE:MET) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 205,211 shares of the financial services provider’s stock after purchasing an additional 5,774 shares during the period. Rafferty Asset Management LLC’s holdings in MetLife were worth $16,803,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MET. Transce3nd LLC acquired a new position in MetLife in the fourth quarter valued at approximately $26,000. Quarry LP acquired a new position in MetLife in the fourth quarter valued at approximately $31,000. Sierra Ocean LLC acquired a new position in MetLife in the fourth quarter valued at approximately $32,000. Retirement Wealth Solutions LLC acquired a new position in MetLife in the fourth quarter valued at approximately $32,000. Finally, Graney & King LLC acquired a new position in MetLife in the fourth quarter valued at approximately $34,000. 94.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. StockNews.com upgraded shares of MetLife from a “hold” rating to a “buy” rating in a report on Monday, May 5th. Piper Sandler increased their price objective on shares of MetLife from $92.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Barclays cut their target price on shares of MetLife from $95.00 to $88.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Keefe, Bruyette & Woods cut their target price on shares of MetLife from $98.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Finally, Cowen reiterated a “buy” rating on shares of MetLife in a report on Friday, March 7th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $92.69.

MetLife Stock Up 0.6%

Shares of MET stock opened at $80.42 on Friday. The firm has a fifty day moving average of $76.99 and a 200-day moving average of $81.15. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.54. MetLife, Inc. has a 12-month low of $65.21 and a 12-month high of $89.05. The company has a market capitalization of $53.99 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 0.65 and a beta of 0.85.

MetLife (NYSE:MET) last released its earnings results on Wednesday, April 30th. The financial services provider reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.04). The business had revenue of $18.57 billion during the quarter, compared to the consensus estimate of $18.06 billion. MetLife had a net margin of 6.19% and a return on equity of 20.42%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period last year, the business posted $1.83 EPS. As a group, equities research analysts predict that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.

MetLife Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 6th will be given a $0.5675 dividend. The ex-dividend date is Tuesday, May 6th. This represents a $2.27 dividend on an annualized basis and a yield of 2.82%. This is an increase from MetLife’s previous quarterly dividend of $0.55. MetLife’s dividend payout ratio (DPR) is 36.91%.

MetLife announced that its Board of Directors has approved a share repurchase plan on Wednesday, April 30th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 5.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors 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 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.