Pallas Capital Advisors LLC Takes Position in MetLife, Inc. (NYSE:MET)

Pallas Capital Advisors LLC acquired a new position in shares of MetLife, Inc. (NYSE:MET - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,909 shares of the financial services provider's stock, valued at approximately $474,000.

Other large investors have also recently bought and sold shares of the company. Tallon Kerry Patrick bought a new position in MetLife in the fourth quarter valued at approximately $260,000. Brighton Jones LLC increased its stake in shares of MetLife by 9.0% in the 4th quarter. Brighton Jones LLC now owns 4,240 shares of the financial services provider's stock valued at $347,000 after purchasing an additional 351 shares during the last quarter. Kingsview Wealth Management LLC raised its holdings in shares of MetLife by 48.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 5,779 shares of the financial services provider's stock worth $473,000 after buying an additional 1,880 shares in the last quarter. Empowered Funds LLC lifted its position in shares of MetLife by 11.5% during the 4th quarter. Empowered Funds LLC now owns 11,607 shares of the financial services provider's stock worth $950,000 after buying an additional 1,199 shares during the last quarter. Finally, Savant Capital LLC raised its stake in MetLife by 4.7% during the fourth quarter. Savant Capital LLC now owns 25,488 shares of the financial services provider's stock worth $2,087,000 after acquiring an additional 1,152 shares in the last quarter. 94.99% of the stock is currently owned by institutional investors and hedge funds.

MetLife Trading Down 2.2%

MET stock traded down $1.77 during mid-day trading on Friday, reaching $77.22. The company's stock had a trading volume of 3,450,695 shares, compared to its average volume of 3,385,518. MetLife, Inc. has a 12 month low of $65.21 and a 12 month high of $89.05. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.54. The business's 50 day moving average price is $76.56 and its 200 day moving average price is $80.70. The company has a market cap of $51.84 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 0.65 and a beta of 0.86.

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 the consensus estimate of $2.00 by ($0.04). The company had revenue of $18.57 billion for the quarter, compared to analyst estimates of $18.06 billion. MetLife had a return on equity of 20.42% and a net margin of 6.19%. The business's quarterly revenue was up 15.6% compared to the same quarter last year. During the same period last year, the business earned $1.83 EPS. On average, equities research analysts predict that MetLife, Inc. will post 9.65 EPS for the current year.

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

MetLife Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 6th were issued a $0.5675 dividend. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $2.27 annualized dividend and a yield of 2.94%. This is a positive change from MetLife's previous quarterly dividend of $0.55. MetLife's dividend payout ratio is presently 36.91%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods decreased their price target on shares of MetLife from $98.00 to $95.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Morgan Stanley boosted their target price on shares of MetLife from $94.00 to $99.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Barclays dropped their price target on MetLife from $95.00 to $88.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Wells Fargo & Company boosted their price objective on MetLife from $91.00 to $94.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. dropped their target price on MetLife from $88.00 to $86.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $94.17.

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.