MetLife, Inc. (NYSE:MET) Position Increased by Mackenzie Financial Corp

Mackenzie Financial Corp raised its holdings in shares of MetLife, Inc. (NYSE:MET - Free Report) by 8.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,026 shares of the financial services provider's stock after purchasing an additional 5,665 shares during the period. Mackenzie Financial Corp's holdings in MetLife were worth $5,979,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Barrett & Company Inc. boosted its holdings in shares of MetLife by 1.0% during the fourth quarter. Barrett & Company Inc. now owns 11,942 shares of the financial services provider's stock valued at $978,000 after acquiring an additional 121 shares during the period. Eagle Strategies LLC boosted its holdings in shares of MetLife by 4.8% during the fourth quarter. Eagle Strategies LLC now owns 2,707 shares of the financial services provider's stock valued at $222,000 after acquiring an additional 123 shares during the period. J.W. Cole Advisors Inc. boosted its holdings in shares of MetLife by 2.1% during the fourth quarter. J.W. Cole Advisors Inc. now owns 6,044 shares of the financial services provider's stock valued at $495,000 after acquiring an additional 126 shares during the period. Davis R M Inc. boosted its holdings in shares of MetLife by 4.2% during the fourth quarter. Davis R M Inc. now owns 3,148 shares of the financial services provider's stock valued at $258,000 after acquiring an additional 127 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of MetLife by 1.4% during the fourth quarter. Brown Brothers Harriman & Co. now owns 11,295 shares of the financial services provider's stock valued at $925,000 after acquiring an additional 154 shares during the period. Institutional investors own 94.99% of the company's stock.

MetLife Price Performance

NYSE MET traded up $0.03 on Monday, reaching $78.61. The company's stock had a trading volume of 1,989,457 shares, compared to its average volume of 3,398,579. MetLife, Inc. has a twelve month low of $65.21 and a twelve month high of $89.05. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market cap of $52.77 billion, a PE ratio of 13.17, a PEG ratio of 0.65 and a beta of 0.85. The firm's 50 day moving average is $76.29 and its two-hundred day moving average is $80.94.

MetLife (NYSE:MET - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $1.96 EPS for the quarter, missing analysts' consensus estimates of $2.00 by ($0.04). MetLife had a net margin of 6.19% and a return on equity of 20.42%. The firm had revenue of $18.57 billion for the quarter, compared to analysts' expectations of $18.06 billion. During the same period in the prior year, the company posted $1.83 earnings per share. MetLife's quarterly revenue was up 15.6% compared to the same quarter last year. As a group, sell-side analysts predict that MetLife, Inc. will post 9.65 EPS for the current year.

MetLife announced that its board has approved a share repurchase plan on Wednesday, April 30th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 5.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

MetLife Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 6th will be paid a dividend of $0.5675 per share. The ex-dividend date of this dividend is Tuesday, May 6th. This is a positive change from MetLife's previous quarterly dividend of $0.55. This represents a $2.27 dividend on an annualized basis and a yield of 2.89%. MetLife's dividend payout ratio is currently 36.91%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MET. UBS Group boosted their price target on shares of MetLife from $94.00 to $98.00 and gave the company a "buy" rating in a report on Wednesday, April 2nd. Cowen reissued a "buy" rating on shares of MetLife in a report on Friday, March 7th. Barclays reduced their price objective on shares of MetLife from $95.00 to $88.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Piper Sandler upped their price objective on shares of MetLife from $92.00 to $94.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Finally, Wall Street Zen downgraded shares of MetLife from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $94.17.

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.