CAMG Solamere Management LLC acquired a new stake in shares of Metlife Inc (NYSE:MET) during the first quarter, according to its most recent filing with the SEC. The fund acquired 74,324 shares of the financial services provider’s stock, valued at approximately $3,413,000. Metlife accounts for approximately 1.6% of CAMG Solamere Management LLC’s investment portfolio, making the stock its 20th biggest holding.
Other institutional investors have also bought and sold shares of the company. First Dallas Securities Inc. bought a new position in shares of Metlife in the 4th quarter worth approximately $111,000. Wagner Wealth Management LLC purchased a new stake in Metlife during the 4th quarter valued at $126,000. Adviser Investments LLC purchased a new stake in Metlife during the 1st quarter valued at $129,000. Avestar Capital LLC purchased a new stake in Metlife during the 4th quarter valued at $135,000. Finally, Jacobi Capital Management LLC boosted its stake in shares of Metlife by 70.3% in the 1st quarter. Jacobi Capital Management LLC now owns 3,546 shares of the financial services provider’s stock worth $160,000 after buying an additional 1,464 shares during the last quarter. Institutional investors and hedge funds own 77.23% of the company’s stock.
In other Metlife news, Director Gerald L. Hassell purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, May 9th. The stock was bought at an average price of $46.18 per share, with a total value of $461,800.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.34% of the company’s stock.
A number of equities analysts have recently issued reports on the company. ValuEngine upgraded Metlife from a “hold” rating to a “buy” rating in a research note on Thursday, April 26th. Wells Fargo & Co restated a “buy” rating on shares of Metlife in a research report on Tuesday, May 1st. Credit Suisse Group initiated coverage on Metlife in a research report on Wednesday, April 25th. They issued an “outperform” rating and a $67.00 price target for the company. Keefe, Bruyette & Woods restated a “buy” rating and set a $56.00 target price on shares of Metlife in a research report on Friday, February 23rd. Finally, Zacks Investment Research lowered Metlife from a “hold” rating to a “sell” rating in a research report on Tuesday, March 20th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. Metlife presently has an average rating of “Hold” and a consensus price target of $56.81.
MET stock opened at $46.31 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.15 and a quick ratio of 0.15. The stock has a market capitalization of $47.08 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 0.80 and a beta of 1.19. Metlife Inc has a 12 month low of $43.38 and a 12 month high of $55.91.
Metlife (NYSE:MET) last posted its quarterly earnings data on Wednesday, May 2nd. The financial services provider reported $1.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.19. Metlife had a net margin of 6.48% and a return on equity of 8.70%. The firm had revenue of $15.15 billion during the quarter, compared to analysts’ expectations of $15.52 billion. During the same quarter last year, the company posted $1.20 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. sell-side analysts expect that Metlife Inc will post 5.07 earnings per share for the current year.
Metlife announced that its Board of Directors has authorized a share buyback plan on Tuesday, May 22nd that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 13th. Shareholders of record on Monday, May 7th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend was Friday, May 4th. This is a boost from Metlife’s previous quarterly dividend of $0.40. Metlife’s dividend payout ratio (DPR) is currently 37.33%.
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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