Wealth Enhancement Advisory Services LLC Decreases Stock Position in MetLife, Inc. (NYSE:MET)

Wealth Enhancement Advisory Services LLC trimmed its stake in MetLife, Inc. (NYSE:MET - Free Report) by 1.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 266,844 shares of the financial services provider's stock after selling 3,875 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in MetLife were worth $21,425,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Ball & Co Wealth Management Inc. acquired a new stake in shares of MetLife in the fourth quarter valued at $25,000. Transce3nd LLC purchased a new stake in MetLife during the fourth quarter worth about $26,000. Quarry LP acquired a new position in shares of MetLife in the fourth quarter valued at approximately $31,000. Graney & King LLC purchased a new stake in MetLife during the 4th quarter worth approximately $34,000. Finally, Atala Financial Inc acquired a new stake in MetLife during the 4th quarter worth approximately $45,000. 94.99% of the stock is currently owned by institutional investors and hedge funds.

MetLife Stock Performance

NYSE:MET traded up $0.60 during midday trading on Friday, reaching $79.15. The stock had a trading volume of 6,575,429 shares, compared to its average volume of 3,381,111. The stock has a market cap of $53.14 billion, a P/E ratio of 12.87, a P/E/G ratio of 0.63 and a beta of 0.86. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.55. MetLife, Inc. has a 12-month low of $65.21 and a 12-month high of $89.05. The firm has a fifty day simple moving average of $77.37 and a two-hundred day simple moving average of $80.28.

MetLife (NYSE:MET - Get Free Report) last announced its quarterly earnings data 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). MetLife had a net margin of 6.08% and a return on equity of 20.89%. The firm had revenue of $18.57 billion during the quarter, compared to analyst estimates of $18.06 billion. During the same quarter in the previous year, the business earned $1.83 EPS. MetLife's revenue for the quarter was up 15.6% on a year-over-year basis. On average, equities analysts expect that MetLife, Inc. will post 9.65 EPS for the current year.

MetLife declared that its Board of Directors has initiated a share buyback plan on Wednesday, April 30th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes 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 management believes its stock is undervalued.

MetLife Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 6th were paid a dividend of $0.5675 per share. The ex-dividend date was Tuesday, May 6th. This is a boost from MetLife's previous quarterly dividend of $0.55. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.87%. MetLife's dividend payout ratio is 36.91%.

Analysts Set New Price Targets

MET has been the subject of several analyst reports. Wall Street Zen cut MetLife from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Morgan Stanley boosted their target price on shares of MetLife from $94.00 to $99.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Keefe, Bruyette & Woods decreased their price target on MetLife from $98.00 to $95.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. JPMorgan Chase & Co. dropped their price objective on MetLife from $88.00 to $86.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Finally, Cowen reaffirmed a "buy" rating on shares of MetLife in a report on Friday, March 7th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $94.17.

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.