MetLife, Inc. (NYSE:MET) Shares Sold by Heritage Trust Co

Key Points

• Heritage Trust Co reduced its holdings in MetLife, Inc. by 10%, selling 3,399 shares and now owning 30,458 shares valued at approximately $2.45 million.
• Several equity analysts have recently upgraded MetLife with price targets ranging from $94.00 to $98.00, resulting in a consensus rating of "Moderate Buy".
• MetLife announced a $3 billion share buyback plan and recently declared a quarterly dividend of $0.5675 per share, indicating a dividend yield of 3.1%.

Heritage Trust Co reduced its holdings in MetLife, Inc. (NYSE:MET - Free Report) by 10.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,458 shares of the financial services provider's stock after selling 3,399 shares during the quarter. Heritage Trust Co's holdings in MetLife were worth $2,445,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MET. Ball & Co Wealth Management Inc. purchased a new position in MetLife in the 4th quarter valued at approximately $25,000. Transce3nd LLC purchased a new position in MetLife in the 4th quarter valued at approximately $26,000. North Capital Inc. purchased a new position in MetLife in the 1st quarter valued at approximately $26,000. Quarry LP purchased a new position in MetLife in the 4th quarter valued at approximately $31,000. Finally, Motco increased its stake in MetLife by 105.5% in the 1st quarter. Motco now owns 413 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 212 shares in the last quarter. 94.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on MET shares. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $97.00 price objective (up from $94.00) on shares of MetLife in a research note on Thursday, July 10th. JPMorgan Chase & Co. raised their price target on MetLife from $86.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods dropped their price target on MetLife from $95.00 to $94.00 and set an "outperform" rating for the company in a research report on Wednesday, July 9th. Wall Street Zen downgraded MetLife from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Morgan Stanley reissued an "overweight" rating and set a $98.00 price target (down previously from $99.00) on shares of MetLife in a research report on Monday, July 14th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $96.10.

MetLife Price Performance

Shares of NYSE:MET opened at $74.00 on Friday. The company has a market cap of $49.68 billion, a P/E ratio of 12.03, a P/E/G ratio of 0.60 and a beta of 0.85. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.55. MetLife, Inc. has a 52 week low of $65.21 and a 52 week high of $89.05. The business has a fifty day simple moving average of $78.40 and a 200-day simple moving average of $79.44.

MetLife (NYSE:MET - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $1.96 EPS for the quarter, missing analysts' consensus estimates of $2.00 by ($0.04). The business had revenue of $18.57 billion during the quarter, compared to analysts' expectations of $18.06 billion. MetLife had a net margin of 6.08% and a return on equity of 20.89%. MetLife's revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.83 EPS. Equities research analysts forecast that MetLife, Inc. will post 9.65 EPS for the current year.

MetLife declared 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 outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 5.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

MetLife Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 5th will be given a $0.5675 dividend. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.1%. MetLife's payout ratio is currently 36.91%.

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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