MetLife, Inc. (NYSE:MET) Shares Acquired by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. boosted its position in MetLife, Inc. (NYSE:MET - Free Report) by 5.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,137 shares of the financial services provider's stock after acquiring an additional 5,413 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in MetLife were worth $9,003,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Heartland Bank & Trust Co acquired a new position in shares of MetLife in the 1st quarter valued at about $516,000. Dale Q Rice Investment Management Ltd acquired a new position in MetLife during the first quarter valued at approximately $313,000. Proathlete Wealth Management LLC purchased a new stake in MetLife during the first quarter worth approximately $113,000. River Street Advisors LLC increased its position in shares of MetLife by 3.0% in the first quarter. River Street Advisors LLC now owns 19,217 shares of the financial services provider's stock worth $1,543,000 after acquiring an additional 554 shares in the last quarter. Finally, Silver Oak Securities Incorporated raised its stake in shares of MetLife by 13.4% in the 1st quarter. Silver Oak Securities Incorporated now owns 4,288 shares of the financial services provider's stock valued at $340,000 after acquiring an additional 506 shares during the period. Hedge funds and other institutional investors own 94.99% of the company's stock.

MetLife Stock Down 0.7%

Shares of NYSE:MET opened at $79.14 on Thursday. The firm has a market cap of $53.13 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 0.64 and a beta of 0.86. The company has a fifty day simple moving average of $77.79 and a 200 day simple moving average of $80.19. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.55. MetLife, Inc. has a 12-month low of $65.21 and a 12-month high of $89.05.

MetLife (NYSE:MET - Get Free Report) last released its earnings results on Wednesday, April 30th. The financial services provider reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.00 by ($0.04). The company had revenue of $18.57 billion during the quarter, compared to the consensus estimate of $18.06 billion. MetLife had a return on equity of 20.89% and a net margin of 6.08%. MetLife's revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.83 EPS. On average, equities research analysts anticipate that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 6th were paid a dividend of $0.5675 per share. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $2.27 annualized dividend and a yield of 2.87%. This is a boost from MetLife's previous quarterly dividend of $0.55. MetLife's dividend payout ratio is presently 36.91%.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MET. Piper Sandler upped their price target on shares of MetLife from $92.00 to $94.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Cowen reaffirmed a "buy" rating on shares of MetLife in a research report on Friday, March 7th. Morgan Stanley raised their target price on MetLife from $94.00 to $99.00 and gave the company an "overweight" rating in a report on Monday, May 19th. JPMorgan Chase & Co. reduced their price target on MetLife from $88.00 to $86.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. 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 equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.17.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.