Gulf International Bank UK Ltd Lowers Stock Position in MetLife, Inc. (NYSE:MET)

Key Points

• Gulf International Bank UK Ltd has reduced its holdings in MetLife, Inc. by 26.5%, now owning 33,237 shares valued at approximately $2.67 million.
• MetLife reported quarterly earnings of $2.02 per share, missing the consensus estimate of $2.32, with revenues also falling short at $17.34 billion.
• The company announced a $3.00 billion stock repurchase program indicating confidence in its stock's value, alongside a quarterly dividend of $0.5675 per share with a 2.9% yield.

Gulf International Bank UK Ltd trimmed its position in shares of MetLife, Inc. (NYSE:MET - Free Report) by 26.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,237 shares of the financial services provider's stock after selling 12,006 shares during the period. Gulf International Bank UK Ltd's holdings in MetLife were worth $2,668,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. S Bank Fund Management Ltd bought a new stake in shares of MetLife during the 1st quarter valued at $493,000. National Pension Service lifted its stake in MetLife by 4.7% in the 1st quarter. National Pension Service now owns 1,476,963 shares of the financial services provider's stock worth $118,585,000 after purchasing an additional 66,639 shares in the last quarter. Dagco Inc. purchased a new stake in MetLife in the 1st quarter worth $68,000. Resona Asset Management Co. Ltd. lifted its stake in MetLife by 7.3% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 183,316 shares of the financial services provider's stock worth $14,689,000 after purchasing an additional 12,424 shares in the last quarter. Finally, Callan Family Office LLC lifted its stake in MetLife by 11.4% in the 1st quarter. Callan Family Office LLC now owns 43,755 shares of the financial services provider's stock worth $3,513,000 after purchasing an additional 4,485 shares in the last quarter. 94.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on MET. Jefferies Financial Group boosted their price target on shares of MetLife from $100.00 to $103.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. Barclays boosted their price target on shares of MetLife from $88.00 to $94.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Wells Fargo & Company reiterated an "overweight" rating and issued a $97.00 price target (up previously from $94.00) on shares of MetLife in a research note on Thursday, July 10th. Keefe, Bruyette & Woods decreased their price target on shares of MetLife from $94.00 to $92.00 and set an "outperform" rating on the stock in a research note on Monday, August 11th. Finally, UBS Group reduced their target price on shares of MetLife from $94.00 to $91.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, MetLife has a consensus rating of "Moderate Buy" and a consensus target price of $96.00.

MetLife Price Performance

Shares of MetLife stock traded down $0.58 during trading hours on Friday, reaching $77.34. The company's stock had a trading volume of 2,660,701 shares, compared to its average volume of 3,562,289. The firm has a 50 day moving average price of $77.87 and a 200-day moving average price of $78.72. MetLife, Inc. has a one year low of $65.21 and a one year high of $89.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a market cap of $51.43 billion, a P/E ratio of 13.11, a P/E/G ratio of 0.68 and a beta of 0.85.

MetLife (NYSE:MET - Get Free Report) last issued its quarterly earnings results 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 net margin of 5.83% and a return on equity of 19.88%. The business's revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.28 earnings per share. On average, analysts predict that MetLife, Inc. will post 9.65 EPS for the current year.

MetLife Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 5th will be given a $0.5675 dividend. This represents a $2.27 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, August 5th. MetLife's payout ratio is 38.47%.

MetLife announced that its board has initiated a stock repurchase plan on Wednesday, April 30th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

MetLife 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.