Entropy Technologies LP Reduces Stake in MetLife, Inc. (NYSE:MET)

Key Points

• Entropy Technologies LP has significantly reduced its holdings in MetLife, decreasing by 67.5% to 4,552 shares, valued at approximately $365,000.
• Wall Street analysts generally rate MetLife positively, with an average rating of "Moderate Buy" and a consensus price target of $96.00.
• MetLife announced a quarterly dividend of $0.5675 per share, representing a 2.9% dividend yield, and initiated a $3 billion stock buyback program, indicating confidence in its stock valuation.

Entropy Technologies LP lowered its holdings in MetLife, Inc. (NYSE:MET - Free Report) by 67.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 4,552 shares of the financial services provider's stock after selling 9,473 shares during the quarter. Entropy Technologies LP's holdings in MetLife were worth $365,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. First Horizon Advisors Inc. boosted its position in shares of MetLife by 4.8% in the 1st quarter. First Horizon Advisors Inc. now owns 422,684 shares of the financial services provider's stock valued at $33,937,000 after purchasing an additional 19,192 shares during the period. Ritholtz Wealth Management boosted its position in shares of MetLife by 52.1% in the 1st quarter. Ritholtz Wealth Management now owns 9,355 shares of the financial services provider's stock valued at $751,000 after purchasing an additional 3,204 shares during the period. Pinnacle Financial Partners Inc acquired a new stake in shares of MetLife in the 1st quarter valued at about $255,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of MetLife by 20.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,785 shares of the financial services provider's stock valued at $4,735,000 after purchasing an additional 10,414 shares during the period. Finally, Heartland Bank & Trust Co acquired a new stake in shares of MetLife in the 1st quarter valued at about $516,000. Hedge funds and other institutional investors own 94.99% of the company's stock.

Analysts Set New Price Targets

MET has been the subject of a number of research analyst reports. Barclays upped their target price on MetLife from $88.00 to $94.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. JPMorgan Chase & Co. increased their price objective on MetLife from $86.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods decreased their price objective on MetLife from $94.00 to $92.00 and set an "outperform" rating for the company in a research report on Monday, August 11th. Jefferies Financial Group increased their price objective on MetLife from $100.00 to $103.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Finally, Wall Street Zen cut MetLife from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, MetLife has an average rating of "Moderate Buy" and a consensus target price of $96.00.

MetLife Price Performance

Shares of MET traded down $0.58 during mid-day trading on Friday, hitting $77.34. The company's stock had a trading volume of 2,660,701 shares, compared to its average volume of 3,562,289. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.57. The firm has a 50-day simple moving average of $77.87 and a 200 day simple moving average of $78.77. The firm has a market capitalization of $51.43 billion, a P/E ratio of 13.11, a P/E/G ratio of 0.69 and a beta of 0.85. MetLife, Inc. has a 1-year low of $65.21 and a 1-year high of $89.05.

MetLife (NYSE:MET - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $2.02 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.30). The business had revenue of $17.34 billion during the quarter, compared to analyst estimates of $18.58 billion. MetLife had a net margin of 5.83% and a return on equity of 19.88%. The firm's quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.28 earnings per share. Analysts predict that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

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

MetLife Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, August 5th. MetLife's dividend payout ratio (DPR) is presently 38.47%.

MetLife 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.