Rothschild Investment LLC Trims Stake in MetLife, Inc. (NYSE:MET)

Rothschild Investment LLC trimmed its stake in MetLife, Inc. (NYSE:MET) by 1.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,809 shares of the financial services provider’s stock after selling 726 shares during the period. Rothschild Investment LLC’s holdings in MetLife were worth $5,685,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MET. Tallon Kerry Patrick purchased a new stake in shares of MetLife in the 4th quarter worth $260,000. Brighton Jones LLC increased its stake in MetLife by 9.0% in the 4th quarter. Brighton Jones LLC now owns 4,240 shares of the financial services provider’s stock worth $347,000 after buying an additional 351 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in MetLife by 7.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 3,416 shares of the financial services provider’s stock worth $280,000 after buying an additional 235 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in MetLife in the 4th quarter worth $259,000. Finally, Foundations Investment Advisors LLC purchased a new stake in MetLife in the 4th quarter worth $238,000. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Stock Down 0.4%

Shares of NYSE:MET opened at $78.52 on Friday. The company has a current ratio of 0.16, a quick 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 50-day moving average price of $76.40 and a 200 day moving average price of $81.00. The company has a market cap of $52.71 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 0.65 and a beta of 0.85.

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

MetLife declared that its Board of Directors has approved a share buyback plan on Wednesday, April 30th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 5.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

MetLife Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 6th will be issued a $0.5675 dividend. This is an increase from MetLife’s previous quarterly dividend of $0.55. The ex-dividend date is Tuesday, May 6th. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.89%. MetLife’s dividend payout ratio (DPR) is presently 36.91%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Morgan Stanley increased their price target on MetLife from $94.00 to $99.00 and gave the stock an “overweight” rating in a research note on Monday, May 19th. Piper Sandler increased their price target on MetLife from $92.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 2nd. Barclays cut their price target on MetLife from $95.00 to $88.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Cowen reiterated a “buy” rating on shares of MetLife in a research note on Friday, March 7th. Finally, Wall Street Zen lowered MetLife from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $94.17.

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.