MetLife, Inc. (NYSE:MET) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its holdings in MetLife, Inc. (NYSE:MET - Free Report) by 20.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,785 shares of the financial services provider's stock after acquiring an additional 10,414 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in MetLife were worth $4,735,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MET. Ball & Co Wealth Management Inc. purchased a new position in shares of MetLife in the 4th quarter worth about $25,000. Transce3nd LLC bought a new position in MetLife during the fourth quarter valued at approximately $26,000. Quarry LP purchased a new stake in shares of MetLife in the 4th quarter valued at $31,000. Graney & King LLC purchased a new stake in MetLife during the fourth quarter valued at about $34,000. Finally, Atala Financial Inc bought a new position in shares of MetLife during the fourth quarter valued at about $45,000. 94.99% of the stock is currently owned by institutional investors.

MetLife Price Performance

Shares of NYSE:MET traded up $0.58 during mid-day trading on Thursday, reaching $80.73. The stock had a trading volume of 390,000 shares, compared to its average volume of 3,356,827. The business's 50 day moving average price is $78.58 and its 200 day moving average price is $80.13. MetLife, Inc. has a 1 year low of $65.21 and a 1 year high of $89.05. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.55. The company has a market cap of $54.19 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 0.65 and a beta of 0.85.

MetLife (NYSE:MET - Get Free Report) last released its quarterly 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). MetLife had a net margin of 6.08% and a return on equity of 20.89%. The company had revenue of $18.57 billion for the quarter, compared to analysts' expectations of $18.06 billion. During the same quarter in the previous year, the company posted $1.83 EPS. The business's quarterly revenue was up 15.6% on a year-over-year basis. Research analysts expect that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife declared that its board has approved a share repurchase plan 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 buy up to 5.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

MetLife Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 6th were paid a $0.5675 dividend. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $2.27 annualized dividend and a yield of 2.81%. This is a boost from MetLife's previous quarterly dividend of $0.55. MetLife's dividend payout ratio is 36.91%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MET shares. Morgan Stanley lifted their price target on MetLife from $94.00 to $99.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. UBS Group upped 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. Barclays cut their price target on shares of MetLife from $95.00 to $88.00 and set an "overweight" rating on the stock 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 company an "overweight" rating in a research note on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. lowered their price target on MetLife from $88.00 to $86.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $94.17.

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.