Strive Asset Management LLC Invests $697,000 in MetLife, Inc. (NYSE:MET)

Strive Asset Management LLC acquired a new position in MetLife, Inc. (NYSE:MET - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,509 shares of the financial services provider's stock, valued at approximately $697,000.

Several other institutional investors have also recently made changes to their positions in the stock. Transce3nd LLC bought a new stake in MetLife in the 4th quarter worth approximately $26,000. Quarry LP bought a new stake in MetLife during the 4th quarter valued at $31,000. Sierra Ocean LLC bought a new stake in MetLife during the 4th quarter valued at $32,000. Retirement Wealth Solutions LLC bought a new stake in MetLife during the 4th quarter valued at $32,000. Finally, Graney & King LLC bought a new position in shares of MetLife in the 4th quarter worth $34,000. Institutional investors own 94.99% of the company's stock.

MetLife Price Performance

Shares of MET opened at $80.80 on Friday. MetLife, Inc. has a twelve month low of $65.21 and a twelve month high of $89.05. The stock's 50 day moving average is $77.04 and its two-hundred day moving average is $81.13. The firm has a market capitalization of $54.24 billion, a PE ratio of 13.53, a P/E/G ratio of 0.65 and a beta of 0.85. 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 the consensus estimate of $2.00 by ($0.04). MetLife had a return on equity of 20.42% and a net margin of 6.19%. The firm had revenue of $18.57 billion for the quarter, compared to analysts' expectations of $18.06 billion. During the same period last year, the firm earned $1.83 EPS. MetLife's revenue was up 15.6% compared to the same quarter last year. Research analysts anticipate that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife announced that its board has approved a share repurchase 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 purchase up to 5.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

MetLife Increases Dividend

The company also recently disclosed 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 2.81%. This is an increase from MetLife's previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Tuesday, May 6th. MetLife's dividend payout ratio is presently 36.91%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MET shares. Keefe, Bruyette & Woods reduced their target price on MetLife from $98.00 to $95.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. StockNews.com upgraded MetLife from a "hold" rating to a "buy" rating in a research report on Monday, May 5th. Morgan Stanley reduced their target price on MetLife from $109.00 to $94.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Cowen reaffirmed a "buy" rating on shares of MetLife in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. lowered their price objective on MetLife from $88.00 to $86.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $92.69.

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.

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