37,500 Shares in MetLife, Inc. (NYSE:MET) Acquired by Pacific Capital Partners Ltd

Pacific Capital Partners Ltd acquired a new stake in shares of MetLife, Inc. (NYSE:MET - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 37,500 shares of the financial services provider's stock, valued at approximately $3,011,000. MetLife comprises approximately 1.9% of Pacific Capital Partners Ltd's portfolio, making the stock its 20th largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in MET. Ball & Co Wealth Management Inc. purchased a new position in shares of MetLife in the 4th quarter worth about $25,000. Transce3nd LLC acquired a new position in shares of MetLife in the 4th quarter worth approximately $26,000. North Capital Inc. acquired a new position in MetLife during the 1st quarter valued at approximately $26,000. Quarry LP bought a new position in MetLife during the 4th quarter worth $31,000. Finally, Motco grew its stake in MetLife by 105.5% during the 1st quarter. Motco now owns 413 shares of the financial services provider's stock worth $33,000 after buying an additional 212 shares during the last quarter. 94.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MET shares. Morgan Stanley reaffirmed an "overweight" rating and set a $98.00 target price (down previously from $99.00) on shares of MetLife in a research note on Monday, July 14th. Keefe, Bruyette & Woods lowered their price target on MetLife from $95.00 to $94.00 and set an "outperform" rating on the stock in a report on Wednesday, July 9th. Wall Street Zen downgraded MetLife from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Wells Fargo & Company reiterated an "overweight" rating and set a $97.00 price target (up previously from $94.00) on shares of MetLife in a research note on Thursday, July 10th. Finally, JPMorgan Chase & Co. upped their price target on MetLife from $86.00 to $95.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $96.09.

MetLife Stock Performance

Shares of NYSE MET traded down $1.95 during trading hours on Friday, hitting $74.00. 4,383,241 shares of the company's stock were exchanged, compared to its average volume of 3,390,276. The company's 50-day moving average price is $78.46 and its 200-day moving average price is $79.55. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a market capitalization of $49.68 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 0.61 and a beta of 0.85. 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 posted 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). MetLife had a net margin of 6.08% and a return on equity of 20.89%. The firm had revenue of $18.57 billion during the quarter, compared to analyst estimates of $18.06 billion. During the same period last year, the company earned $1.83 EPS. The company's revenue was up 15.6% on a year-over-year basis. On average, sell-side analysts expect that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.

MetLife announced that its board has authorized a stock repurchase plan 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 purchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its stock is undervalued.

MetLife Announces Dividend

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