Concurrent Investment Advisors LLC Purchases 10,590 Shares of MetLife, Inc. (NYSE:MET)

Concurrent Investment Advisors LLC lifted its holdings in shares of MetLife, Inc. (NYSE:MET - Free Report) by 34.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,937 shares of the financial services provider's stock after purchasing an additional 10,590 shares during the quarter. Concurrent Investment Advisors LLC's holdings in MetLife were worth $3,287,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MET. Brighton Jones LLC grew its holdings in shares of MetLife by 9.0% during the fourth quarter. Brighton Jones LLC now owns 4,240 shares of the financial services provider's stock worth $347,000 after purchasing an additional 351 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of MetLife during the fourth quarter worth about $110,000. Proficio Capital Partners LLC bought a new stake in MetLife in the 4th quarter worth approximately $15,129,000. Ashton Thomas Private Wealth LLC bought a new stake in MetLife in the 4th quarter worth approximately $301,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in MetLife in the 4th quarter worth approximately $48,000. Hedge funds and other institutional investors own 94.99% of the company's stock.

MetLife Stock Performance

Shares of NYSE:MET traded up $0.10 during midday trading on Thursday, reaching $78.34. 2,788,966 shares of the company's stock traded hands, compared to its average volume of 3,365,072. The company has a market cap of $52.59 billion, a price-to-earnings ratio of 12.74, a P/E/G ratio of 0.68 and a beta of 0.85. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.16 and a current ratio of 0.16. MetLife, Inc. has a one year low of $65.21 and a one year high of $89.05. The stock has a 50 day moving average of $78.93 and a 200 day moving average of $80.07.

MetLife (NYSE:MET - Get Free Report) last posted its 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 firm had revenue of $18.57 billion during the quarter, compared to the consensus estimate of $18.06 billion. During the same period in the prior year, the company posted $1.83 EPS. The firm's revenue was up 15.6% compared to the same quarter last year. As a group, equities research analysts anticipate that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife declared that its board has authorized a share repurchase plan on Wednesday, April 30th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 5.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

MetLife Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 5th will be issued a $0.5675 dividend. This represents a $2.27 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Tuesday, August 5th. MetLife's dividend payout ratio is 36.91%.

Analysts Set New Price Targets

A number of analysts recently weighed in on MET shares. UBS Group boosted their target price on MetLife from $94.00 to $98.00 and gave the stock a "buy" rating in a research report on Wednesday, April 2nd. Piper Sandler upped their target price on MetLife from $92.00 to $94.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Barclays upped their price target on MetLife from $88.00 to $94.00 and gave the stock an "overweight" rating in a research note on Monday. Keefe, Bruyette & Woods cut their target price on MetLife from $95.00 to $94.00 and set an "outperform" rating on the stock in a research note on Wednesday. Finally, Wells Fargo & Company increased their target price on MetLife from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, MetLife presently has a consensus rating of "Moderate Buy" and an average price target of $95.58.

MetLife Company Profile

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.