MetLife, Inc. (NYSE:MET) Shares Sold by Ledyard National Bank

Ledyard National Bank decreased its holdings in shares of MetLife, Inc. (NYSE:MET - Free Report) by 7.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 59,520 shares of the financial services provider's stock after selling 4,826 shares during the quarter. Ledyard National Bank's holdings in MetLife were worth $4,779,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of MetLife by 109.2% in the 4th quarter. Bank of New York Mellon Corp now owns 8,826,658 shares of the financial services provider's stock worth $722,727,000 after acquiring an additional 4,606,748 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of MetLife by 27.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 13,692 shares of the financial services provider's stock valued at $1,116,000 after buying an additional 2,940 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of MetLife by 1.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 776,244 shares of the financial services provider's stock valued at $63,559,000 after buying an additional 12,723 shares in the last quarter. Sei Investments Co. grew its position in shares of MetLife by 7.1% in the 4th quarter. Sei Investments Co. now owns 435,847 shares of the financial services provider's stock worth $35,687,000 after buying an additional 28,848 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of MetLife by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,913,408 shares of the financial services provider's stock worth $320,430,000 after acquiring an additional 30,187 shares in the last quarter. 94.99% of the stock is owned by institutional investors.

MetLife Stock Up 0.1%

Shares of NYSE MET traded up $0.08 on Tuesday, hitting $79.71. The company had a trading volume of 3,138,710 shares, compared to its average volume of 3,376,260. The firm has a market capitalization of $53.51 billion, a P/E ratio of 12.96, a PEG ratio of 0.63 and a beta of 0.86. The business has a 50 day moving average of $77.50 and a two-hundred day moving average of $80.20. MetLife, Inc. has a 12-month low of $65.21 and a 12-month high of $89.05. 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 announced its earnings results on Wednesday, April 30th. The financial services provider reported $1.96 earnings per share (EPS) 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 business had revenue of $18.57 billion during the quarter, compared to analyst estimates of $18.06 billion. During the same period in the previous year, the company earned $1.83 earnings per share. The business's revenue for the quarter was up 15.6% on a year-over-year basis. As a group, equities research analysts forecast that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.

MetLife Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 6th were given a dividend of $0.5675 per share. This is a boost from MetLife's previous quarterly dividend of $0.55. The ex-dividend date was Tuesday, May 6th. This represents a $2.27 annualized dividend and a dividend yield of 2.85%. MetLife's dividend payout ratio (DPR) is presently 36.91%.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MET shares. Morgan Stanley upped their price objective on shares of MetLife from $94.00 to $99.00 and gave the company an "overweight" rating in a report on Monday, May 19th. Cowen restated a "buy" rating on shares of MetLife in a research note on Friday, March 7th. UBS Group lifted their price objective on shares of MetLife from $94.00 to $98.00 and gave the stock a "buy" rating in a research note on Wednesday, April 2nd. Barclays cut their target price on MetLife from $95.00 to $88.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Finally, Piper Sandler lifted their price target on MetLife from $92.00 to $94.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $94.17.

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.