WealthBridge Investment Counsel Inc. Lowers Holdings in MetLife, Inc. (NYSE:MET)

WealthBridge Investment Counsel Inc. trimmed its stake in MetLife, Inc. (NYSE:MET) by 0.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 120,660 shares of the financial services provider’s stock after selling 450 shares during the period. MetLife comprises about 3.5% of WealthBridge Investment Counsel Inc.’s investment portfolio, making the stock its 8th largest position. WealthBridge Investment Counsel Inc.’s holdings in MetLife were worth $9,688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of MET. Ball & Co Wealth Management Inc. bought a new stake in MetLife in the fourth quarter valued at $25,000. Transce3nd LLC bought a new stake in MetLife in the fourth quarter valued at $26,000. Quarry LP bought a new stake in MetLife in the fourth quarter valued at $31,000. Sierra Ocean LLC acquired a new position in MetLife in the fourth quarter worth $32,000. Finally, Graney & King LLC acquired a new position in MetLife in the fourth quarter worth $34,000. 94.99% of the stock is currently owned by institutional investors.

MetLife Trading Up 1.8%

Shares of MET opened at $79.99 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.54. MetLife, Inc. has a 12-month low of $65.21 and a 12-month high of $89.05. The firm has a market capitalization of $53.70 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 0.65 and a beta of 0.86. The stock’s fifty day simple moving average is $76.15 and its 200-day simple moving average is $80.87.

MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.00 by ($0.04). MetLife had a net margin of 6.19% and a return on equity of 20.42%. The firm had revenue of $18.57 billion for the quarter, compared to analyst estimates of $18.06 billion. During the same period last year, the company earned $1.83 EPS. The company’s revenue was up 15.6% compared to the same quarter last year. As a group, research analysts predict that MetLife, Inc. will post 9.65 earnings per share for the current year.

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

MetLife Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 6th will be paid a $0.5675 dividend. This is a positive change from MetLife’s previous quarterly dividend of $0.55. The ex-dividend date is Tuesday, May 6th. This represents a $2.27 annualized dividend and a yield of 2.84%. MetLife’s dividend payout ratio is presently 36.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MET shares. Wells Fargo & Company boosted their price objective on MetLife from $91.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods reduced their price objective on MetLife from $98.00 to $95.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. JPMorgan Chase & Co. reduced their price objective on MetLife from $88.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. Cowen reissued a “buy” rating on shares of MetLife in a research note on Friday, March 7th. Finally, Morgan Stanley boosted their price objective on MetLife from $94.00 to $99.00 and gave the stock an “overweight” rating in a research note on Monday, May 19th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.