Cantor Fitzgerald Investment Advisors L.P. Cuts Stock Holdings in MetLife, Inc. (NYSE:MET)

Cantor Fitzgerald Investment Advisors L.P. lessened its stake in MetLife, Inc. (NYSE:MET - Free Report) by 16.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,241 shares of the financial services provider's stock after selling 30,200 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P.'s holdings in MetLife were worth $11,902,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ball & Co Wealth Management Inc. acquired a new stake in shares of MetLife during the 4th quarter worth approximately $25,000. Transce3nd LLC bought a new position in MetLife in the fourth quarter valued at approximately $26,000. Quarry LP bought a new stake in shares of MetLife in the fourth quarter worth $31,000. Graney & King LLC bought a new stake in shares of MetLife in the fourth quarter worth $34,000. Finally, Atala Financial Inc acquired a new position in MetLife during the fourth quarter worth $45,000. Institutional investors and hedge funds own 94.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of MetLife from $98.00 to $95.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Morgan Stanley increased their target price on shares of MetLife from $94.00 to $99.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Piper Sandler upped their price objective on MetLife from $92.00 to $94.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Wall Street Zen downgraded shares of MetLife from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Barclays reduced their price objective on shares of MetLife from $95.00 to $88.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, MetLife presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.17.

MetLife Stock Up 0.8%

NYSE:MET traded up $0.60 during trading hours on Friday, hitting $79.15. 6,575,429 shares of the company traded hands, compared to its average volume of 3,401,220. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.55. The firm's 50-day simple moving average is $77.37 and its 200-day simple moving average is $80.31. MetLife, Inc. has a one year low of $65.21 and a one year high of $89.05. The company has a market cap of $53.14 billion, a PE ratio of 12.87, a PEG ratio of 0.63 and a beta of 0.86.

MetLife (NYSE:MET - Get Free Report) last released its 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 return on equity of 20.89% and a net margin of 6.08%. The business had revenue of $18.57 billion for the quarter, compared to the consensus estimate of $18.06 billion. During the same quarter in the previous year, the firm earned $1.83 earnings per share. The company's revenue for the quarter was up 15.6% on a year-over-year basis. Equities analysts predict that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife announced that its Board of Directors has authorized 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 purchase up to 5.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

MetLife Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 6th were paid a $0.5675 dividend. This is a boost from MetLife's previous quarterly dividend of $0.55. This represents a $2.27 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Tuesday, May 6th. MetLife's payout ratio is currently 36.91%.

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.