Raiffeisen Bank International AG acquired a new position in shares of MetLife, Inc. (NYSE:MET - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,426 shares of the financial services provider's stock, valued at approximately $605,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Transce3nd LLC bought a new stake in shares of MetLife in the 4th quarter valued at about $26,000. Quarry LP bought a new stake in MetLife in the fourth quarter valued at approximately $31,000. Sierra Ocean LLC acquired a new stake in MetLife in the fourth quarter worth $32,000. Retirement Wealth Solutions LLC acquired a new position in shares of MetLife in the 4th quarter valued at $32,000. Finally, Graney & King LLC bought a new stake in shares of MetLife in the 4th quarter valued at $34,000. Institutional investors own 94.99% of the company's stock.
MetLife Stock Performance
Shares of NYSE:MET traded down $2.41 on Wednesday, hitting $77.93. The company had a trading volume of 2,987,768 shares, compared to its average volume of 3,406,130. The stock has a market cap of $52.31 billion, a price-to-earnings ratio of 13.05, a P/E/G ratio of 0.65 and a beta of 0.85. The stock has a 50 day moving average price of $77.12 and a 200 day moving average price of $81.15. MetLife, Inc. has a 1-year low of $65.21 and a 1-year 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.
MetLife (NYSE:MET - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $18.57 billion during the quarter, compared to analyst estimates of $18.06 billion. MetLife had a net margin of 6.19% and a return on equity of 20.42%. The firm's quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the company posted $1.83 EPS. Analysts expect that MetLife, Inc. will post 9.65 EPS for the current year.
MetLife declared that its Board of Directors has initiated a stock buyback plan on Wednesday, April 30th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.
MetLife Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 6th will be issued a dividend of $0.5675 per share. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Tuesday, May 6th. This is a positive change from MetLife's previous quarterly dividend of $0.55. MetLife's payout ratio is 36.91%.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the company. Piper Sandler increased their price target on MetLife from $92.00 to $94.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods cut their price target on shares of MetLife from $98.00 to $95.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Barclays dropped their price objective on shares of MetLife from $95.00 to $88.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. StockNews.com raised shares of MetLife from a "hold" rating to a "buy" rating in a research note on Monday, May 5th. Finally, Morgan Stanley raised their price target on shares of MetLife from $94.00 to $99.00 and gave the stock an "overweight" rating in a research note on Monday. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, MetLife presently has a consensus rating of "Moderate Buy" and an average price target of $93.08.
Check Out Our Latest Report on MET
About MetLife
(
Free Report)
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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