MAI Capital Management Sells 12,295 Shares of MetLife, Inc. (NYSE:MET)

MAI Capital Management decreased its position in shares of MetLife, Inc. (NYSE:METGet Rating) by 19.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,485 shares of the financial services provider’s stock after selling 12,295 shares during the period. MAI Capital Management’s holdings in MetLife were worth $3,548,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sandy Cove Advisors LLC bought a new stake in shares of MetLife during the fourth quarter valued at approximately $30,000. Stonebridge Capital Advisors LLC raised its position in shares of MetLife by 91.1% during the fourth quarter. Stonebridge Capital Advisors LLC now owns 535 shares of the financial services provider’s stock valued at $33,000 after buying an additional 255 shares during the last quarter. Cornerstone Advisory LLC bought a new stake in shares of MetLife during the fourth quarter valued at approximately $36,000. Riverview Trust Co bought a new stake in shares of MetLife during the first quarter valued at approximately $36,000. Finally, Sandy Spring Bank raised its position in shares of MetLife by 51.4% during the first quarter. Sandy Spring Bank now owns 680 shares of the financial services provider’s stock valued at $48,000 after buying an additional 231 shares during the last quarter. Institutional investors own 89.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MET. JPMorgan Chase & Co. reduced their price objective on shares of MetLife from $75.00 to $74.00 in a research report on Monday, July 11th. Citigroup started coverage on shares of MetLife in a report on Monday, May 23rd. They issued a “buy” rating and a $77.00 target price for the company. Evercore ISI raised their target price on shares of MetLife to $81.00 in a report on Tuesday, August 9th. Barclays set a $75.00 target price on shares of MetLife in a report on Tuesday, July 19th. Finally, Morgan Stanley raised their target price on shares of MetLife from $78.00 to $79.00 and gave the company an “overweight” rating in a report on Thursday, August 4th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $76.55.

MetLife Stock Down 0.7 %

Shares of MET opened at $67.34 on Tuesday. The firm has a market capitalization of $54.76 billion, a P/E ratio of 16.75 and a beta of 1.08. MetLife, Inc. has a 12-month low of $57.05 and a 12-month high of $73.18. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.39. The firm has a fifty day moving average price of $62.74 and a 200-day moving average price of $66.01.

MetLife Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 14th. Stockholders of record on Tuesday, August 9th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Monday, August 8th. MetLife’s dividend payout ratio is currently 49.75%.

MetLife announced that its Board of Directors has initiated a share buyback plan on Wednesday, May 4th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 5.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

About MetLife

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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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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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