3,886 Shares in MetLife, Inc. (NYSE:MET) Bought by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. bought a new position in shares of MetLife, Inc. (NYSE:MET - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,886 shares of the financial services provider's stock, valued at approximately $312,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ball & Co Wealth Management Inc. purchased a new stake in MetLife in the 4th quarter valued at $25,000. Transce3nd LLC purchased a new stake in shares of MetLife during the 4th quarter valued at $26,000. North Capital Inc. purchased a new stake in shares of MetLife during the 1st quarter valued at $26,000. Quarry LP purchased a new stake in shares of MetLife during the 4th quarter valued at $31,000. Finally, Graney & King LLC bought a new stake in MetLife in the 4th quarter valued at about $34,000. 94.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Piper Sandler upped their price objective on shares of MetLife from $92.00 to $94.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Morgan Stanley reaffirmed an "overweight" rating and set a $98.00 target price (down previously from $99.00) on shares of MetLife in a report on Monday. Barclays boosted their price objective on MetLife from $88.00 to $94.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Wells Fargo & Company reissued an "overweight" rating and set a $97.00 price objective (up previously from $94.00) on shares of MetLife in a report on Thursday, July 10th. Finally, 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. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $95.50.

MetLife Stock Up 0.5%

Shares of NYSE MET traded up $0.39 during trading on Thursday, reaching $76.98. The company had a trading volume of 673,614 shares, compared to its average volume of 3,342,580. MetLife, Inc. has a 12-month low of $65.21 and a 12-month high of $89.05. The stock has a market cap of $51.68 billion, a PE ratio of 12.52, a P/E/G ratio of 0.65 and a beta of 0.85. The business's 50-day moving average is $78.98 and its 200 day moving average is $79.91. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.55.

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 analysts forecast that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.

MetLife Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 5th will be issued a dividend of $0.5675 per share. This represents a $2.27 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Tuesday, August 5th. MetLife's dividend payout ratio is presently 36.91%.

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

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.