Rafferty Asset Management LLC Boosts Stock Position in MetLife, Inc. (NYSE:MET)

Rafferty Asset Management LLC increased its position in shares of MetLife, Inc. (NYSE:MET - Free Report) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 205,211 shares of the financial services provider's stock after buying an additional 5,774 shares during the quarter. Rafferty Asset Management LLC's holdings in MetLife were worth $16,803,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of brokerages have issued reports on MET. Keefe, Bruyette & Woods cut 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. UBS Group boosted their target price on MetLife from $94.00 to $98.00 and gave the company a "buy" rating in a research report on Wednesday, April 2nd. BMO Capital Markets began coverage on MetLife in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $97.00 target price on the stock. StockNews.com raised MetLife from a "hold" rating to a "buy" rating in a research report on Monday, May 5th. Finally, Wells Fargo & Company boosted their target price on MetLife from $91.00 to $94.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $93.08.

MetLife Stock Up 0.0%

Shares of MetLife stock traded up $0.04 during trading hours on Monday, reaching $80.87. 1,999,461 shares of the company were exchanged, compared to its average volume of 3,405,957. MetLife, Inc. has a 1 year low of $65.21 and a 1 year high of $89.05. The stock's fifty day moving average is $77.04 and its 200 day moving average is $81.14. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market cap of $54.29 billion, a PE ratio of 13.55, a PEG ratio of 0.65 and a beta of 0.85.

MetLife (NYSE:MET - Get Free Report) last posted 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). MetLife had a return on equity of 20.42% and a net margin of 6.19%. The company had revenue of $18.57 billion for the quarter, compared to analysts' expectations of $18.06 billion. During the same period in the prior year, the company posted $1.83 EPS. The firm's revenue was up 15.6% compared to the same quarter last year. As a group, equities research analysts forecast that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 6th will be issued a $0.5675 dividend. This represents a $2.27 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Tuesday, May 6th. This is a positive change from MetLife's previous quarterly dividend of $0.55. MetLife's dividend payout ratio is 36.91%.

MetLife declared that its board has approved a stock repurchase plan on Wednesday, April 30th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 5.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

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.