Crossmark Global Holdings Inc. Has $9.03 Million Stake in MetLife, Inc. (NYSE:MET)

Crossmark Global Holdings Inc. reduced its holdings in MetLife, Inc. (NYSE:MET - Free Report) by 72.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,470 shares of the financial services provider's stock after selling 295,397 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in MetLife were worth $9,030,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in shares of MetLife by 33.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,663,239 shares of the financial services provider's stock worth $2,019,427,000 after buying an additional 6,213,923 shares during the period. Geode Capital Management LLC lifted its holdings in MetLife by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 11,931,536 shares of the financial services provider's stock worth $973,901,000 after buying an additional 158,107 shares during the last quarter. Norges Bank bought a new position in MetLife during the 4th quarter worth approximately $730,716,000. Bank of New York Mellon Corp raised its position in shares of MetLife by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 8,862,835 shares of the financial services provider's stock worth $711,597,000 after purchasing an additional 36,177 shares during the period. Finally, Northern Trust Corp raised its position in shares of MetLife by 15.7% during the 4th quarter. Northern Trust Corp now owns 7,052,202 shares of the financial services provider's stock worth $577,434,000 after purchasing an additional 958,458 shares during the period. 94.99% of the stock is currently owned by institutional investors and hedge funds.

MetLife Price Performance

NYSE MET traded down $0.50 during trading hours on Wednesday, reaching $79.16. 258,705 shares of the company's stock were exchanged, compared to its average volume of 3,358,516. The stock has a market cap of $53.14 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 0.67 and a beta of 0.85. MetLife, Inc. has a one year low of $65.21 and a one year high of $89.05. The firm has a fifty day moving average of $78.87 and a 200-day moving average of $80.09. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.55.

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

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

MetLife Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 5th will be given a $0.5675 dividend. This represents a $2.27 dividend on an annualized basis and a yield of 2.87%. MetLife's payout ratio is 36.91%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wells Fargo & Company raised their target price on MetLife from $91.00 to $94.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Wall Street Zen cut MetLife from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Morgan Stanley lifted their price target on MetLife from $94.00 to $99.00 and gave the company an "overweight" rating in a report on Monday, May 19th. JPMorgan Chase & Co. lifted their price target on MetLife from $86.00 to $95.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, Barclays boosted their target price on MetLife from $88.00 to $94.00 and gave the company an "overweight" rating in a research note on Monday. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $95.42.

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.