Jefferies Financial Group Inc. Decreases Position in MetLife, Inc. (NYSE:MET)

Key Points

• Jefferies Financial Group Inc. has significantly reduced its stake in MetLife, Inc. by 90.2%, leaving them with just 30,103 shares after selling 276,249 shares in the first quarter.
• MetLife reported a quarterly EPS of $1.96, which fell short of estimates, but its revenue grew by 15.6% year-over-year to $18.57 billion.
• The company has authorized a $3.00 billion share buyback plan, reflecting confidence in its stock’s value among the board members.

Jefferies Financial Group Inc. lowered its stake in MetLife, Inc. (NYSE:MET - Free Report) by 90.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,103 shares of the financial services provider's stock after selling 276,249 shares during the period. Jefferies Financial Group Inc.'s holdings in MetLife were worth $2,417,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ball & Co Wealth Management Inc. purchased a new position in MetLife in the fourth quarter worth about $25,000. Transce3nd LLC purchased a new position in MetLife in the fourth quarter worth about $26,000. North Capital Inc. purchased a new position in shares of MetLife during the first quarter valued at approximately $26,000. Quarry LP purchased a new position in shares of MetLife during the fourth quarter valued at approximately $31,000. Finally, Motco boosted its position in shares of MetLife by 105.5% during the first quarter. Motco now owns 413 shares of the financial services provider's stock valued at $33,000 after buying an additional 212 shares during the period. Hedge funds and other institutional investors own 94.99% of the company's stock.

MetLife Stock Up 0.2%

Shares of NYSE MET traded up $0.17 during mid-day trading on Tuesday, reaching $74.43. 324,648 shares of the company were exchanged, compared to its average volume of 3,372,238. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.55. The stock has a market cap of $49.97 billion, a price-to-earnings ratio of 12.12, a P/E/G ratio of 0.60 and a beta of 0.85. MetLife, Inc. has a 1 year low of $65.21 and a 1 year high of $89.05. The firm has a 50-day moving average of $78.35 and a 200 day moving average of $79.31.

MetLife announced that its Board of Directors has approved a stock repurchase plan on Wednesday, April 30th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 5.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

MetLife Dividend Announcement

The business 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 dividend of $0.5675 per share. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Tuesday, August 5th. MetLife's dividend payout ratio is 36.91%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wells Fargo & Company restated an "overweight" rating and set a $97.00 target price (up previously from $94.00) on shares of MetLife in a research report on Thursday, July 10th. Morgan Stanley restated an "overweight" rating and set a $98.00 target price (down previously from $99.00) on shares of MetLife in a research report on Monday, July 14th. Keefe, Bruyette & Woods dropped their target price on MetLife from $95.00 to $94.00 and set an "outperform" rating for the company in a research report on Wednesday, July 9th. Barclays boosted 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. Finally, Wall Street Zen lowered MetLife from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, MetLife has a consensus rating of "Moderate Buy" and an average price target of $96.10.

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.