MetLife, Inc. (NYSE:MET) Shares Sold by Maryland State Retirement & Pension System

Key Points

• The Maryland State Retirement & Pension System reduced its stake in MetLife by 12.5% during the 1st quarter, now holding 27,506 shares valued at approximately $2.2 million.
• MetLife recently announced a quarterly dividend of $0.5675 per share, yielding about 3.0%, with an ex-dividend date of August 5th.
• Institutional investors now own 94.99% of MetLife's stock, with several new positions purchased in recent quarters.

Maryland State Retirement & Pension System reduced its position in shares of MetLife, Inc. (NYSE:MET - Free Report) by 12.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,506 shares of the financial services provider's stock after selling 3,913 shares during the period. Maryland State Retirement & Pension System's holdings in MetLife were worth $2,208,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Arjuna Capital bought a new stake in MetLife in the first quarter worth $3,381,000. Headlands Technologies LLC raised its stake in shares of MetLife by 936.5% during the first quarter. Headlands Technologies LLC now owns 16,263 shares of the financial services provider's stock valued at $1,306,000 after acquiring an additional 14,694 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new position in shares of MetLife during the first quarter valued at about $744,000. Deutsche Bank AG raised its stake in shares of MetLife by 2.2% during the first quarter. Deutsche Bank AG now owns 2,632,535 shares of the financial services provider's stock valued at $211,366,000 after acquiring an additional 56,978 shares during the last quarter. Finally, Chicago Partners Investment Group LLC increased its position in shares of MetLife by 34.5% during the first quarter. Chicago Partners Investment Group LLC now owns 3,745 shares of the financial services provider's stock valued at $287,000 after buying an additional 960 shares during the period. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Stock Down 1.3%

Shares of MET traded down $0.96 during mid-day trading on Monday, hitting $75.32. The company's stock had a trading volume of 4,414,723 shares, compared to its average volume of 3,435,356. The company's 50-day moving average is $78.09 and its 200-day moving average is $78.99. MetLife, Inc. has a 52-week low of $65.21 and a 52-week high of $89.05. The firm has a market capitalization of $50.56 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 0.67 and a beta of 0.85. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.57.

MetLife (NYSE:MET - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $17.34 billion for the quarter, compared to the consensus estimate of $18.58 billion. MetLife had a return on equity of 19.88% and a net margin of 5.83%. The company's revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.28 EPS. On average, equities research analysts forecast that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife declared that its Board of Directors has initiated a share buyback plan on Wednesday, April 30th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes 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 management believes its stock is undervalued.

MetLife Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 5th will be paid a dividend of $0.5675 per share. The ex-dividend date is Tuesday, August 5th. This represents a $2.27 dividend on an annualized basis and a yield of 3.0%. MetLife's dividend payout ratio is presently 38.47%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods cut their price objective on shares of MetLife from $94.00 to $92.00 and set an "outperform" rating on the stock in a report on Monday. UBS Group cut their price target on shares of MetLife from $94.00 to $91.00 and set a "buy" rating on the stock in a report on Thursday. Wells Fargo & Company reiterated an "overweight" rating and set a $97.00 price target (up previously from $94.00) on shares of MetLife in a report on Thursday, July 10th. JPMorgan Chase & Co. increased their price target on shares of MetLife from $86.00 to $95.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, Wall Street Zen downgraded shares of MetLife from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, MetLife presently has an average rating of "Moderate Buy" and a consensus price target of $96.00.

MetLife Company 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.