Vanguard Group Inc. Sells 591,722 Shares of MetLife, Inc. (NYSE:MET)

Vanguard Group Inc. lowered its stake in MetLife, Inc. (NYSE:MET - Free Report) by 1.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,445,678 shares of the financial services provider's stock after selling 591,722 shares during the quarter. Vanguard Group Inc. owned 8.54% of MetLife worth $4,612,313,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ball & Co Wealth Management Inc. acquired a new stake in shares of MetLife in the 4th quarter valued at about $25,000. Transce3nd LLC acquired a new stake in MetLife in the fourth quarter valued at approximately $26,000. North Capital Inc. acquired a new stake in MetLife in the first quarter valued at approximately $26,000. Quarry LP bought a new stake in shares of MetLife during the fourth quarter valued at approximately $31,000. Finally, Motco raised its position in shares of MetLife by 105.5% during the first quarter. Motco now owns 413 shares of the financial services provider's stock worth $33,000 after purchasing an additional 212 shares during the period. 94.99% of the stock is owned by institutional investors.

MetLife Stock Down 2.9%

Shares of NYSE MET opened at $73.78 on Friday. The business's fifty day moving average price is $78.13 and its 200-day moving average price is $79.17. MetLife, Inc. has a one year low of $65.21 and a one year high of $89.05. The stock has a market capitalization of $49.53 billion, a PE ratio of 12.51, a P/E/G ratio of 0.62 and a beta of 0.85. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.16 and a quick ratio of 0.16.

MetLife (NYSE:MET - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.02 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.30). The business had revenue of $17.34 billion for the quarter, compared to analysts' expectations of $18.58 billion. MetLife had a net margin of 5.83% and a return on equity of 19.72%. MetLife's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the company earned $2.28 earnings per share. On average, equities research analysts anticipate that MetLife, Inc. will post 9.65 EPS for the current year.

MetLife announced that its board has initiated a stock repurchase program on Wednesday, April 30th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 5.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

MetLife Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 5th will be paid a $0.5675 dividend. This represents a $2.27 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Tuesday, August 5th. MetLife's payout ratio is currently 38.47%.

Analysts Set New Price Targets

MET has been the subject of several recent research reports. Wall Street Zen downgraded shares of MetLife from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Keefe, Bruyette & Woods decreased their price objective on shares of MetLife from $95.00 to $94.00 and set an "outperform" rating for the company in a research note on Wednesday, July 9th. UBS Group cut their target price on MetLife from $94.00 to $91.00 and set a "buy" rating on the stock in a research note on Thursday. Wells Fargo & Company reaffirmed an "overweight" rating and set a $97.00 price target (up from $94.00) on shares of MetLife in a research report on Thursday, July 10th. Finally, Barclays boosted their price objective on MetLife from $88.00 to $94.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, MetLife presently has an average rating of "Moderate Buy" and a consensus price target of $95.40.

MetLife 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.

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