MetLife, Inc. (NYSE:MET) Stock Position Decreased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its stake in shares of MetLife, Inc. (NYSE:MET - Free Report) by 5.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 910,638 shares of the financial services provider's stock after selling 47,575 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.13% of MetLife worth $73,115,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MET. Ball & Co Wealth Management Inc. bought a new position in shares of MetLife in the fourth quarter worth $25,000. Transce3nd LLC bought a new position in shares of MetLife in the fourth quarter worth $26,000. North Capital Inc. bought a new position in shares of MetLife in the first quarter worth $26,000. Quarry LP bought a new position in shares of MetLife in the fourth quarter worth $31,000. Finally, Graney & King LLC bought a new position in shares of MetLife in the fourth quarter worth $34,000. 94.99% of the stock is currently owned by institutional investors.

MetLife Trading Up 1.0%

Shares of NYSE MET traded up $0.79 during mid-day trading on Thursday, hitting $77.38. 2,759,803 shares of the company traded hands, compared to its average volume of 3,352,777. The business has a 50 day moving average of $78.98 and a two-hundred day moving average of $79.91. The stock has a market capitalization of $51.94 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 0.62 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 1 year low of $65.21 and a 1 year high of $89.05.

MetLife (NYSE:MET - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 20.89% and a net margin of 6.08%. The firm's revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.83 earnings per share. On average, sell-side analysts anticipate that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.

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

MetLife Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 5th will be paid a $0.5675 dividend. This represents a $2.27 annualized dividend and a yield of 2.93%. The ex-dividend date is Tuesday, August 5th. MetLife's dividend payout ratio is currently 36.91%.

Analyst Ratings Changes

Several research firms have recently issued reports on MET. Wells Fargo & Company reissued an "overweight" rating and issued a $97.00 price target (up previously from $94.00) on shares of MetLife in a research note on Thursday, July 10th. Morgan Stanley reiterated an "overweight" rating and issued a $98.00 price target (down from $99.00) on shares of MetLife in a research report on Monday. Piper Sandler upped their price target on shares of MetLife from $92.00 to $94.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods cut their price target on shares of MetLife from $95.00 to $94.00 and set an "outperform" rating for the company in a report on Wednesday, July 9th. Finally, Barclays upped their price target on shares of MetLife from $88.00 to $94.00 and gave the company an "overweight" rating in a report on Monday, July 7th. 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.com, MetLife has an average rating of "Moderate Buy" and a consensus price target of $95.50.

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.