Graypoint LLC Acquires 4,372 Shares of MetLife, Inc. (NYSE:MET)

Graypoint LLC lifted its stake in MetLife, Inc. (NYSE:MET) by 90.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,206 shares of the financial services provider’s stock after acquiring an additional 4,372 shares during the quarter. Graypoint LLC’s holdings in MetLife were worth $739,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ball & Co Wealth Management Inc. purchased a new stake in MetLife in the fourth quarter worth about $25,000. Transce3nd LLC purchased a new position in MetLife in the 4th quarter valued at $26,000. North Capital Inc. purchased a new position in shares of MetLife during the 1st quarter worth $26,000. Quarry LP purchased a new stake in MetLife in the 4th quarter valued at about $31,000. Finally, Graney & King LLC acquired a new position in MetLife in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.

MetLife Stock Performance

MET opened at $77.38 on Friday. MetLife, Inc. has a 1 year low of $65.21 and a 1 year high of $89.05. The stock has a market cap of $51.94 billion, a P/E ratio of 12.58, a P/E/G ratio of 0.62 and a beta of 0.85. The firm has a fifty day moving average price of $78.97 and a 200 day moving average price of $79.88. 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 (NYSE:MET) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $1.96 EPS for the quarter, missing the consensus estimate of $2.00 by ($0.04). MetLife had a net margin of 6.08% and a return on equity of 20.89%. The company had revenue of $18.57 billion during the quarter, compared to analysts’ expectations of $18.06 billion. During the same quarter in the prior year, the company earned $1.83 earnings per share. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. Equities research analysts anticipate that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 5th will be given a dividend of $0.5675 per share. The ex-dividend date is Tuesday, August 5th. This represents a $2.27 dividend on an annualized basis and a yield of 2.93%. MetLife’s dividend payout ratio (DPR) is presently 36.91%.

MetLife declared that its board has approved a stock buyback program on Wednesday, April 30th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 5.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have recently commented on MET shares. Piper Sandler upped their price target on MetLife from $92.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 2nd. Barclays lifted their target price on MetLife from $88.00 to $94.00 and gave the stock an “overweight” rating in a research report on Monday, July 7th. Keefe, Bruyette & Woods cut their target price on MetLife from $95.00 to $94.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 9th. JPMorgan Chase & Co. boosted their target price on MetLife from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Finally, Morgan Stanley restated an “overweight” rating and issued a $98.00 target price (down previously from $99.00) on shares of MetLife in a research note on Monday. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.