MetLife, Inc. (NYSE:MET) Shares Sold by Grimes & Company Inc.

Grimes & Company Inc. cut its holdings in shares of MetLife, Inc. (NYSE:MET - Free Report) by 45.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,775 shares of the financial services provider's stock after selling 4,767 shares during the quarter. Grimes & Company Inc.'s holdings in MetLife were worth $464,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Eagle Strategies LLC raised its holdings in MetLife by 4.8% during the fourth quarter. Eagle Strategies LLC now owns 2,707 shares of the financial services provider's stock worth $222,000 after purchasing an additional 123 shares in the last quarter. J.W. Cole Advisors Inc. grew its position in shares of MetLife by 2.1% in the 4th quarter. J.W. Cole Advisors Inc. now owns 6,044 shares of the financial services provider's stock valued at $495,000 after buying an additional 126 shares during the last quarter. Davis R M Inc. raised its stake in MetLife by 4.2% during the 4th quarter. Davis R M Inc. now owns 3,148 shares of the financial services provider's stock worth $258,000 after acquiring an additional 127 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position in MetLife by 1.4% in 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 last quarter. Finally, United Community Bank boosted its stake in MetLife by 2.9% in the fourth quarter. United Community Bank now owns 5,571 shares of the financial services provider's stock valued at $456,000 after acquiring an additional 158 shares in the last quarter. 94.99% of the stock is currently owned by institutional investors and hedge funds.

MetLife Stock Down 0.7%

Shares of NYSE:MET opened at $77.85 on Wednesday. The company's fifty day moving average is $76.99 and its two-hundred day moving average is $80.43. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.16 and a current ratio of 0.16. MetLife, Inc. has a 1-year low of $65.21 and a 1-year high of $89.05. The stock has a market capitalization of $52.26 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 0.63 and a beta of 0.86.

MetLife (NYSE:MET - Get Free Report) last released its quarterly earnings data 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 return on equity of 20.89% and a net margin of 6.08%. The business had revenue of $18.57 billion for the quarter, compared to analyst estimates of $18.06 billion. During the same quarter last year, the company earned $1.83 EPS. MetLife's revenue was up 15.6% compared to the same quarter last year. Equities analysts anticipate that MetLife, Inc. will post 9.65 EPS for the current year.

MetLife Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 6th were given a dividend of $0.5675 per share. The ex-dividend date was Tuesday, May 6th. This represents a $2.27 dividend on an annualized basis and a yield of 2.92%. This is a positive change from MetLife's previous quarterly dividend of $0.55. MetLife's payout ratio is currently 36.91%.

MetLife announced that its Board of Directors has authorized a stock buyback program on Wednesday, April 30th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

MET has been the subject of several research reports. Barclays reduced their target price on MetLife from $95.00 to $88.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Cowen reissued a "buy" rating on shares of MetLife in a report on Friday, March 7th. Keefe, Bruyette & Woods lowered their target price on shares of MetLife from $98.00 to $95.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Wall Street Zen downgraded shares of MetLife from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Wells Fargo & Company raised their price objective on shares of MetLife from $91.00 to $94.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Two equities 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, MetLife currently has a consensus rating of "Moderate Buy" and an average 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.

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