MetLife, Inc. (NYSE:MET) Shares Purchased by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC grew its position in shares of MetLife, Inc. (NYSE:MET - Free Report) by 26.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,922 shares of the financial services provider's stock after purchasing an additional 5,169 shares during the quarter. Verdence Capital Advisors LLC's holdings in MetLife were worth $2,001,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in MET. Ball & Co Wealth Management Inc. acquired a new stake in MetLife in the fourth quarter valued at about $25,000. Transce3nd LLC acquired a new stake in shares of MetLife in the 4th quarter valued at approximately $26,000. North Capital Inc. acquired a new position in MetLife during the first quarter worth $26,000. Quarry LP purchased a new position in MetLife in the fourth quarter worth $31,000. Finally, Graney & King LLC purchased a new position in MetLife in the fourth quarter worth $34,000. Institutional investors and hedge funds own 94.99% of the company's stock.

MetLife Trading Down 0.2%

NYSE MET traded down $0.15 during mid-day trading on Friday, hitting $77.18. The company's stock had a trading volume of 2,065,460 shares, compared to its average volume of 3,352,547. 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, Inc. has a 52-week low of $65.21 and a 52-week high of $89.05. The stock's fifty day simple moving average is $78.97 and its two-hundred day simple moving average is $79.88. The firm has a market capitalization of $51.81 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 0.63 and a beta of 0.85.

MetLife (NYSE:MET - Get Free Report) last issued its earnings results on Wednesday, April 30th. The financial services provider reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.00 by ($0.04). The company had revenue of $18.57 billion during the quarter, compared to analysts' expectations of $18.06 billion. MetLife had a return on equity of 20.89% and a net margin of 6.08%. MetLife's quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.83 EPS. Research analysts expect that MetLife, Inc. will post 9.65 EPS for the current year.

MetLife Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Tuesday, August 5th. MetLife's dividend payout ratio (DPR) is 36.91%.

MetLife announced that its board has authorized a stock buyback program on Wednesday, April 30th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 5.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

MET has been the subject of a number of 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. UBS Group lifted their target price on shares of MetLife from $94.00 to $98.00 and gave the stock a "buy" rating in a research report on Wednesday, April 2nd. Piper Sandler upped their price objective on MetLife from $92.00 to $94.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. upped their price objective on shares of MetLife from $86.00 to $95.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Finally, Barclays raised their price target on MetLife from $88.00 to $94.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $95.50.

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.