Liberty Wealth Management LLC Buys New Position in MetLife, Inc. (NYSE:MET)

Key Points

• Liberty Wealth Management LLC invested approximately $836,000 in MetLife, purchasing 10,409 shares in the first quarter, reflecting growing institutional interest in the company.
• MetLife's board approved a $3.00 billion share repurchase plan, indicating the board's belief that the stock is undervalued.
• The company announced a quarterly dividend of $0.5675 per share, yielding 3.1%, alongside a manageable payout ratio of 36.91%.

Liberty Wealth Management LLC bought a new position in MetLife, Inc. (NYSE:MET - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,409 shares of the financial services provider's stock, valued at approximately $836,000.

Other hedge funds have also modified their holdings of the company. Eagle Strategies LLC raised its stake in shares of MetLife by 4.8% in the fourth quarter. Eagle Strategies LLC now owns 2,707 shares of the financial services provider's stock valued at $222,000 after purchasing an additional 123 shares in the last quarter. Csenge Advisory Group grew its position in MetLife by 1.0% in the first quarter. Csenge Advisory Group now owns 13,647 shares of the financial services provider's stock valued at $1,096,000 after acquiring an additional 131 shares during the period. Stock Yards Bank & Trust Co. grew its position in MetLife by 2.5% in the first quarter. Stock Yards Bank & Trust Co. now owns 6,463 shares of the financial services provider's stock valued at $519,000 after acquiring an additional 159 shares during the period. Unigestion Holding SA grew its position in MetLife by 0.7% in the first quarter. Unigestion Holding SA now owns 23,661 shares of the financial services provider's stock valued at $1,900,000 after acquiring an additional 165 shares during the period. Finally, Davis R M Inc. grew its position in MetLife by 5.3% in the first quarter. Davis R M Inc. now owns 3,315 shares of the financial services provider's stock valued at $266,000 after acquiring an additional 167 shares during the period. 94.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods lowered their price target on MetLife from $95.00 to $94.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 9th. Morgan Stanley restated an "overweight" rating and set a $98.00 target price (down previously from $99.00) on shares of MetLife in a report on Monday, July 14th. Barclays increased their target price on MetLife from $88.00 to $94.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Wall Street Zen cut MetLife from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Finally, 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 report on Thursday, July 10th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.10.

MetLife Trading Up 1.1%

NYSE:MET traded up $0.85 during mid-day trading on Monday, hitting $74.86. The company had a trading volume of 3,797,057 shares, compared to its average volume of 2,910,508. MetLife, Inc. has a fifty-two week low of $65.21 and a fifty-two week high of $89.05. The business's fifty day moving average is $78.35 and its two-hundred day moving average is $79.31. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market cap of $50.25 billion, a P/E ratio of 12.17, a P/E/G ratio of 0.60 and a beta of 0.85.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 5th will be given a dividend of $0.5675 per share. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.0%. MetLife's dividend payout ratio (DPR) is currently 36.91%.

MetLife announced that its board has approved a share buyback program on Wednesday, April 30th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 5.9% of its shares through open market purchases. Shares buyback programs are usually an indication 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.