Cerity Partners LLC Has $6.70 Million Stock Position in MetLife, Inc. (NYSE:MET)

Cerity Partners LLC grew its position in shares of MetLife, Inc. (NYSE:MET - Free Report) by 18.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,444 shares of the financial services provider's stock after acquiring an additional 13,037 shares during the quarter. Cerity Partners LLC's holdings in MetLife were worth $6,700,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MET. Ball & Co Wealth Management Inc. acquired a new position in MetLife during the 4th quarter worth approximately $25,000. Transce3nd LLC acquired a new position in MetLife during the 4th quarter worth approximately $26,000. North Capital Inc. acquired a new stake in shares of MetLife in the 1st quarter valued at approximately $26,000. Quarry LP acquired a new stake in shares of MetLife in the 4th quarter valued at approximately $31,000. Finally, Graney & King LLC acquired a new stake in shares of MetLife in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 94.99% of the company's stock.

MetLife Stock Down 2.2%

MET opened at $76.22 on Wednesday. MetLife, Inc. has a 1-year low of $65.21 and a 1-year high of $89.05. The stock's fifty day simple moving average is $78.98 and its 200 day simple moving average is $79.93. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.55. The stock has a market cap of $51.17 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 0.66 and a beta of 0.85.

MetLife (NYSE:MET - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $1.96 earnings per share for the quarter, missing analysts' consensus estimates of $2.00 by ($0.04). MetLife had a net margin of 6.08% and a return on equity of 20.89%. The business had revenue of $18.57 billion during the quarter, compared to the consensus estimate of $18.06 billion. During the same quarter last year, the company posted $1.83 EPS. The firm's revenue was up 15.6% on a year-over-year basis. As a group, research analysts expect that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 5th will be paid a $0.5675 dividend. This represents a $2.27 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Tuesday, August 5th. MetLife's dividend payout ratio (DPR) is presently 36.91%.

MetLife declared that its board has authorized a stock repurchase program on Wednesday, April 30th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 5.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have recently commented on MET. Wall Street Zen downgraded MetLife from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Wells Fargo & Company reissued an "overweight" rating and issued a $97.00 price objective (up previously from $94.00) on shares of MetLife in a report on Thursday, July 10th. Piper Sandler increased their price objective on MetLife from $92.00 to $94.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Morgan Stanley reissued an "overweight" rating and issued a $98.00 price objective (down previously from $99.00) on shares of MetLife in a report on Monday. Finally, Keefe, Bruyette & Woods cut their price objective on MetLife from $95.00 to $94.00 and set an "outperform" rating for the company in a report on Wednesday, July 9th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $95.50.

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.

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