First Commonwealth Financial Corp PA raised its stake in shares of Metlife Inc (NYSE:MET) by 18.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,019 shares of the financial services provider’s stock after purchasing an additional 2,748 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in Metlife were worth $827,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MET. Freestone Capital Holdings LLC boosted its holdings in shares of Metlife by 6.8% in the 1st quarter. Freestone Capital Holdings LLC now owns 25,824 shares of the financial services provider’s stock worth $1,185,000 after acquiring an additional 1,648 shares in the last quarter. Guggenheim Capital LLC boosted its holdings in shares of Metlife by 3.1% in the 1st quarter. Guggenheim Capital LLC now owns 1,293,823 shares of the financial services provider’s stock worth $59,373,000 after acquiring an additional 38,698 shares in the last quarter. Mariner LLC boosted its holdings in shares of Metlife by 432.0% in the 1st quarter. Mariner LLC now owns 21,185 shares of the financial services provider’s stock worth $972,000 after acquiring an additional 17,203 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of Metlife by 9.1% in the 1st quarter. LPL Financial LLC now owns 190,271 shares of the financial services provider’s stock worth $8,732,000 after acquiring an additional 15,792 shares in the last quarter. Finally, Element Capital Management LLC acquired a new position in shares of Metlife in the 1st quarter worth approximately $5,153,000. 77.29% of the stock is currently owned by institutional investors.
MET has been the topic of several recent analyst reports. Wells Fargo & Co set a $60.00 target price on Metlife and gave the stock a “buy” rating in a report on Tuesday, February 13th. Morgan Stanley reduced their target price on Metlife from $59.00 to $58.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 14th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $56.00 target price on shares of Metlife in a report on Friday, February 23rd. UBS Group reissued a “neutral” rating and issued a $51.00 target price (down from $52.00) on shares of Metlife in a report on Friday, March 2nd. Finally, ValuEngine raised Metlife from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 7th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. Metlife has an average rating of “Hold” and a consensus target price of $56.81.
In related news, Director Gerald L. Hassell acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 9th. The stock was purchased at an average price of $46.18 per share, for a total transaction of $461,800.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.34% of the company’s stock.
Metlife opened at $47.68 on Wednesday, MarketBeat.com reports. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.15 and a quick ratio of 0.15. Metlife Inc has a fifty-two week low of $43.38 and a fifty-two week high of $55.91. The company has a market capitalization of $48.39 billion, a P/E ratio of 10.60, a P/E/G ratio of 0.82 and a beta of 1.19.
Metlife (NYSE:MET) last posted its quarterly earnings data on Wednesday, May 2nd. The financial services provider reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.19. Metlife had a net margin of 6.48% and a return on equity of 8.70%. The firm had revenue of $15.15 billion during the quarter, compared to analysts’ expectations of $15.52 billion. During the same quarter in the previous year, the company posted $1.20 EPS. Metlife’s revenue was up .6% on a year-over-year basis. sell-side analysts forecast that Metlife Inc will post 5.07 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 13th. Investors of record on Monday, May 7th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.52%. The ex-dividend date is Friday, May 4th. This is a boost from Metlife’s previous quarterly dividend of $0.40. Metlife’s payout ratio is 37.33%.
Metlife announced that its Board of Directors has approved a stock repurchase plan on Tuesday, May 22nd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; 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, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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