Callan Family Office LLC Has $3.51 Million Position in MetLife, Inc. (NYSE:MET)

Key Points

• Callan Family Office LLC increased its stake in MetLife, Inc. by 11.4%, now holding 43,755 shares valued at approximately $3.5 million.
• MetLife reported quarterly earnings of $2.02 per share, falling short of the expected $2.32, with revenues of $17.34 billion.
• The company has approved a $3 billion share repurchase program, indicating confidence from its leadership that the stock is undervalued.

Callan Family Office LLC lifted its holdings in MetLife, Inc. (NYSE:MET - Free Report) by 11.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,755 shares of the financial services provider's stock after purchasing an additional 4,485 shares during the period. Callan Family Office LLC's holdings in MetLife were worth $3,513,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Ball & Co Wealth Management Inc. acquired a new stake in shares of MetLife in the 4th quarter valued at $25,000. Transce3nd LLC acquired a new position in MetLife during the 4th quarter worth $26,000. North Capital Inc. acquired a new position in MetLife during the 1st quarter worth $26,000. Quarry LP acquired a new position in MetLife during the 4th quarter worth $31,000. Finally, Motco lifted its position in MetLife by 105.5% during the 1st quarter. Motco now owns 413 shares of the financial services provider's stock worth $33,000 after acquiring an additional 212 shares during the last quarter. Institutional investors and hedge funds own 94.99% of the company's stock.

MetLife Price Performance

MetLife stock traded up $0.58 during trading hours on Thursday, hitting $77.94. 2,312,990 shares of the stock were exchanged, compared to its average volume of 3,429,992. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market capitalization of $51.83 billion, a P/E ratio of 13.21, a P/E/G ratio of 0.68 and a beta of 0.85. MetLife, Inc. has a 12 month low of $65.21 and a 12 month high of $89.05. The business's 50-day moving average is $77.94 and its two-hundred day moving average is $78.89.

MetLife (NYSE:MET - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($0.30). The firm had revenue of $17.34 billion for the quarter, compared to the consensus estimate of $18.58 billion. MetLife had a return on equity of 19.88% and a net margin of 5.83%. MetLife's quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.28 earnings per share. Equities research analysts expect that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife announced that its board has approved a stock buyback plan on Wednesday, April 30th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 5.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

MetLife Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 5th will be paid a dividend of $0.5675 per share. This represents a $2.27 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, August 5th. MetLife's dividend payout ratio is 38.47%.

Analyst Ratings Changes

A number of research analysts have weighed in on MET shares. JPMorgan Chase & Co. boosted their target price on shares of MetLife from $86.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Morgan Stanley reaffirmed an "overweight" rating and set a $98.00 price objective (down previously from $99.00) on shares of MetLife in a research report on Monday, July 14th. Keefe, Bruyette & Woods cut their price objective on shares of MetLife from $94.00 to $92.00 and set an "outperform" rating for the company in a research report on Monday. Jefferies Financial Group upped their price objective on shares of MetLife from $100.00 to $103.00 and gave the company a "buy" rating in a research report on Monday. Finally, UBS Group cut their price objective on shares of MetLife from $94.00 to $91.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.00.

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.