Advisor Resource Council Takes Position in MetLife, Inc. (NYSE:MET)

Advisor Resource Council purchased a new position in MetLife, Inc. (NYSE:MET) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,892 shares of the financial services provider’s stock, valued at approximately $288,000.

Other institutional investors also recently bought and sold shares of the company. GoalVest Advisory LLC grew its holdings in shares of MetLife by 73.3% during the first quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider’s stock valued at $29,000 after buying an additional 165 shares during the last quarter. Criterion Capital Advisors LLC purchased a new stake in MetLife during the 4th quarter valued at $26,000. Planned Solutions Inc. bought a new position in shares of MetLife in the 4th quarter worth approximately $28,000. Tennessee Valley Asset Management Partners bought a new position in MetLife in the 4th quarter worth $34,000. Finally, Rise Advisors LLC lifted its holdings in MetLife by 114.7% during the first quarter. Rise Advisors LLC now owns 556 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 297 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MET has been the subject of several research analyst reports. Wells Fargo & Company cut their target price on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. Jefferies Financial Group dropped their price target on MetLife from $88.00 to $83.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Piper Sandler reduced their price objective on MetLife from $85.00 to $82.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. JPMorgan Chase & Co. increased their target price on MetLife from $81.00 to $86.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Morgan Stanley boosted their price target on shares of MetLife from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $80.23.

MetLife Price Performance

MetLife stock opened at $70.16 on Friday. MetLife, Inc. has a 12-month low of $56.13 and a 12-month high of $74.68. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $71.17 and a 200-day moving average price of $70.20. The firm has a market capitalization of $49.89 billion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 0.59 and a beta of 1.11.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.83. The business had revenue of $17.02 billion during the quarter, compared to the consensus estimate of $17.73 billion. MetLife had a net margin of 3.50% and a return on equity of 20.39%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.52 earnings per share. As a group, equities research analysts forecast that MetLife, Inc. will post 8.61 EPS for the current year.

MetLife Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 7th were given a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 3.11%. The ex-dividend date was Monday, May 6th. This is an increase from MetLife’s previous quarterly dividend of $0.52. MetLife’s dividend payout ratio is 74.91%.

MetLife announced that its board has authorized a stock repurchase program on Wednesday, May 1st that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

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.