MetLife, Inc. (NYSE:MET) Shares Sold by LSV Asset Management

Key Points

• LSV Asset Management reduced its stake in MetLife by 5.8%, selling 108,760 shares, and now holds approximately 0.26% of the company valued at $141.18 million.
• MetLife announced a $3.00 billion stock repurchase program, allowing the company to buy back up to 5.9% of its stock, indicating the board's belief that the stock is undervalued.
• The company declared a quarterly dividend of $0.5675 per share, which corresponds to an annual yield of 3.1% and a payout ratio of 36.91%.

LSV Asset Management cut its holdings in MetLife, Inc. (NYSE:MET - Free Report) by 5.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,758,400 shares of the financial services provider's stock after selling 108,760 shares during the quarter. LSV Asset Management owned approximately 0.26% of MetLife worth $141,182,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. First Horizon Advisors Inc. increased its holdings in MetLife by 4.8% during the first quarter. First Horizon Advisors Inc. now owns 422,684 shares of the financial services provider's stock valued at $33,937,000 after buying an additional 19,192 shares during the period. Ritholtz Wealth Management raised its position in shares of MetLife by 52.1% in the 1st quarter. Ritholtz Wealth Management now owns 9,355 shares of the financial services provider's stock worth $751,000 after acquiring an additional 3,204 shares in the last quarter. Pinnacle Financial Partners Inc purchased a new stake in shares of MetLife during the 1st quarter worth $255,000. Mirae Asset Global Investments Co. Ltd. grew its stake in MetLife by 20.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,785 shares of the financial services provider's stock valued at $4,735,000 after purchasing an additional 10,414 shares during the last quarter. Finally, Heartland Bank & Trust Co purchased a new position in MetLife in the first quarter valued at about $516,000. Hedge funds and other institutional investors own 94.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MET. Wells Fargo & Company restated an "overweight" rating and issued a $97.00 price target (up from $94.00) on shares of MetLife in a report on Thursday, July 10th. Morgan Stanley reaffirmed an "overweight" rating and set a $98.00 price target (down from $99.00) on shares of MetLife in a research report on Monday, July 14th. JPMorgan Chase & Co. raised their price objective on MetLife from $86.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Barclays upped their target price on MetLife from $88.00 to $94.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Finally, Wall Street Zen downgraded MetLife from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $96.10.

MetLife Stock Performance

NYSE MET traded up $0.85 during trading hours on Monday, reaching $74.86. The stock had a trading volume of 3,797,057 shares, compared to its average volume of 3,394,046. MetLife, Inc. has a 52-week low of $65.21 and a 52-week high of $89.05. The stock has a fifty day moving average of $78.40 and a 200 day moving average of $79.40. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market cap of $50.25 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 0.60 and a beta of 0.85.

MetLife Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 5th will be given a dividend of $0.5675 per share. The ex-dividend date is Tuesday, August 5th. This represents a $2.27 dividend on an annualized basis and a yield of 3.0%. MetLife's payout ratio is currently 36.91%.

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

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.