Natixis Advisors L.P. cut its stake in shares of MetLife (NYSE:MET) by 0.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 393,382 shares of the financial services provider’s stock after selling 1,402 shares during the period. Natixis Advisors L.P.’s holdings in MetLife were worth $18,052,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. First Dallas Securities Inc. acquired a new stake in shares of MetLife in the fourth quarter valued at approximately $111,000. Sandy Spring Bank lifted its position in shares of MetLife by 495.2% in the fourth quarter. Sandy Spring Bank now owns 2,375 shares of the financial services provider’s stock valued at $120,000 after buying an additional 1,976 shares during the last quarter. Wagner Wealth Management LLC acquired a new stake in shares of MetLife in the fourth quarter valued at approximately $126,000. Avestar Capital LLC acquired a new stake in shares of MetLife in the fourth quarter valued at approximately $135,000. Finally, Jacobi Capital Management LLC lifted its position in shares of MetLife by 70.3% in the first quarter. Jacobi Capital Management LLC now owns 3,546 shares of the financial services provider’s stock valued at $160,000 after buying an additional 1,464 shares during the last quarter. 77.36% of the stock is owned by hedge funds and other institutional investors.
Shares of MetLife opened at $48.00 on Friday, according to MarketBeat.com. MetLife has a 52-week low of $43.38 and a 52-week high of $55.91. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.15 and a current ratio of 0.15. The firm has a market capitalization of $49.25 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 0.84 and a beta of 1.24.
MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, May 2nd. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.19. MetLife had a return on equity of 8.70% and a net margin of 6.48%. The company had revenue of $15.15 billion for the quarter, compared to analyst estimates of $15.52 billion. During the same quarter last year, the company posted $1.20 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. equities research analysts expect that MetLife will post 5.07 earnings per share for the current year.
MetLife announced that its board has authorized a stock buyback plan on Tuesday, May 22nd that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 13th. Stockholders of record on Monday, May 7th will be paid a $0.42 dividend. This is a positive change from MetLife’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, May 4th. This represents a $1.68 annualized dividend and a dividend yield of 3.50%. MetLife’s dividend payout ratio (DPR) is presently 37.33%.
In other MetLife news, Director Gerald L. Hassell purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 9th. The shares were bought at an average price of $46.18 per share, for a total transaction of $461,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.34% of the company’s stock.
MET has been the subject of a number of recent analyst reports. Atlantic Securities raised MetLife from a “neutral” rating to an “overweight” rating in a research report on Monday, March 26th. UBS reaffirmed a “neutral” rating and issued a $51.00 price objective (down from $52.00) on shares of MetLife in a research report on Friday, March 2nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $56.00 price objective on shares of MetLife in a research report on Friday, February 23rd. Morgan Stanley cut their price objective on MetLife from $58.00 to $56.00 and set an “equal weight” rating for the company in a research report on Thursday, April 5th. Finally, Zacks Investment Research cut MetLife from a “hold” rating to a “sell” rating in a research report on Tuesday, March 20th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company. MetLife currently has an average rating of “Hold” and a consensus price target of $56.81.
MetLife Company Profile
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. 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, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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