Texas Bank & Trust Co Makes New $1.12 Million Investment in MetLife, Inc. (NYSE:MET)

Texas Bank & Trust Co purchased a new stake in MetLife, Inc. (NYSE:MET - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 13,688 shares of the financial services provider's stock, valued at approximately $1,121,000.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in shares of MetLife by 33.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,663,239 shares of the financial services provider's stock worth $2,019,427,000 after purchasing an additional 6,213,923 shares during the last quarter. Geode Capital Management LLC raised its position in shares of MetLife by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 11,931,536 shares of the financial services provider's stock worth $973,901,000 after purchasing an additional 158,107 shares during the last quarter. Norges Bank purchased a new position in shares of MetLife in the 4th quarter worth about $730,716,000. Bank of New York Mellon Corp raised its position in shares of MetLife by 109.2% in the 4th quarter. Bank of New York Mellon Corp now owns 8,826,658 shares of the financial services provider's stock worth $722,727,000 after purchasing an additional 4,606,748 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of MetLife by 15.7% in the 4th quarter. Northern Trust Corp now owns 7,052,202 shares of the financial services provider's stock worth $577,434,000 after purchasing an additional 958,458 shares during the last quarter. Institutional investors own 94.99% of the company's stock.

MetLife Stock Down 3.0%

Shares of MET traded down $2.41 during midday trading on Wednesday, reaching $77.93. 2,987,768 shares of the stock were exchanged, compared to its average volume of 3,406,130. MetLife, Inc. has a 52 week low of $65.21 and a 52 week 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 company's 50 day moving average is $77.12 and its two-hundred day moving average is $81.15. The company has a market capitalization of $52.31 billion, a P/E ratio of 13.05, a PEG ratio of 0.65 and a beta of 0.85.

MetLife (NYSE:MET - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $1.96 earnings per share for the quarter, missing analysts' consensus estimates of $2.00 by ($0.04). The company had revenue of $18.57 billion for the quarter, compared to the consensus estimate of $18.06 billion. MetLife had a net margin of 6.19% and a return on equity of 20.42%. MetLife's revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.83 EPS. On average, sell-side analysts anticipate that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 6th will be given a dividend of $0.5675 per share. This is a boost from MetLife's previous quarterly dividend of $0.55. This represents a $2.27 annualized dividend and a yield of 2.91%. The ex-dividend date is Tuesday, May 6th. MetLife's dividend payout ratio (DPR) is currently 36.91%.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Piper Sandler lifted their price target on MetLife from $92.00 to $94.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. StockNews.com upgraded MetLife from a "hold" rating to a "buy" rating in a research note on Monday, May 5th. Cowen reiterated a "buy" rating on shares of MetLife in a research note on Friday, March 7th. JPMorgan Chase & Co. dropped their price target on MetLife from $88.00 to $86.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Finally, BMO Capital Markets initiated coverage on MetLife in a report on Thursday, January 23rd. They set a "market perform" rating and a $97.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $93.08.

MetLife Company 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.