MetLife, Inc. (NYSE:MET) Shares Sold by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC cut its holdings in shares of MetLife, Inc. (NYSE:MET - Free Report) by 17.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 135,091 shares of the financial services provider's stock after selling 28,424 shares during the period. Foster Victor Wealth Advisors LLC's holdings in MetLife were worth $10,846,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of MET. Tallon Kerry Patrick acquired a new stake in shares of MetLife during the 4th quarter valued at about $260,000. Brighton Jones LLC boosted its holdings in MetLife by 9.0% in the 4th quarter. Brighton Jones LLC now owns 4,240 shares of the financial services provider's stock worth $347,000 after buying an additional 351 shares during the last quarter. Empowered Funds LLC boosted its holdings in MetLife by 11.5% in the 4th quarter. Empowered Funds LLC now owns 11,607 shares of the financial services provider's stock worth $950,000 after buying an additional 1,199 shares during the last quarter. Avestar Capital LLC boosted its holdings in MetLife by 9.4% in the 4th quarter. Avestar Capital LLC now owns 4,664 shares of the financial services provider's stock worth $382,000 after buying an additional 400 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in MetLife by 9.2% in the 4th quarter. Vontobel Holding Ltd. now owns 75,086 shares of the financial services provider's stock worth $6,148,000 after buying an additional 6,322 shares during the last quarter. 94.99% of the stock is currently owned by institutional investors and hedge funds.

MetLife Stock Down 2.2%

MET stock opened at $77.22 on Friday. The firm has a market cap of $51.84 billion, a PE ratio of 12.93, a PEG ratio of 0.65 and a beta of 0.86. 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 firm's 50 day moving average price is $76.74 and its 200-day moving average price is $80.57. MetLife, Inc. has a one year low of $65.21 and a one year high of $89.05.

MetLife (NYSE:MET - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $1.96 EPS for the quarter, missing the consensus estimate of $2.00 by ($0.04). The firm had revenue of $18.57 billion for the quarter, compared to analysts' expectations of $18.06 billion. MetLife had a net margin of 6.19% and a return on equity of 20.42%. The firm's quarterly revenue was up 15.6% compared to the same quarter last year. 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 year.

MetLife announced that its board has authorized a stock buyback 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 buy up to 5.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are undervalued.

MetLife Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 6th were issued a $0.5675 dividend. This represents a $2.27 annualized dividend and a yield of 2.94%. The ex-dividend date was Tuesday, May 6th. This is an increase from MetLife's previous quarterly dividend of $0.55. MetLife's dividend payout ratio (DPR) is 36.91%.

Analyst Ratings Changes

MET has been the topic of several research analyst reports. Piper Sandler lifted their price objective on MetLife from $92.00 to $94.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Barclays lowered their price objective on MetLife from $95.00 to $88.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Cowen reiterated a "buy" rating on shares of MetLife in a report on Friday, March 7th. Keefe, Bruyette & Woods decreased their target price on shares of MetLife from $98.00 to $95.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, UBS Group raised their target price on shares of MetLife from $94.00 to $98.00 and gave the stock a "buy" rating in a research note on Wednesday, April 2nd. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, MetLife presently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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