State Board of Administration of Florida Retirement System cut its stake in Metlife Inc (NYSE:MET) by 0.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,269,929 shares of the financial services provider’s stock after selling 3,408 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Metlife were worth $55,369,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mount Yale Investment Advisors LLC acquired a new position in Metlife in the 1st quarter valued at $108,000. Kaizen Advisory LLC raised its holdings in Metlife by 148.0% in the 2nd quarter. Kaizen Advisory LLC now owns 2,515 shares of the financial services provider’s stock valued at $110,000 after acquiring an additional 1,501 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Metlife in the 2nd quarter valued at $112,000. Adviser Investments LLC acquired a new position in Metlife in the 1st quarter valued at $129,000. Finally, Private Capital Group LLC raised its holdings in Metlife by 10,971.4% in the 1st quarter. Private Capital Group LLC now owns 3,100 shares of the financial services provider’s stock valued at $142,000 after acquiring an additional 3,072 shares in the last quarter. 77.16% of the stock is owned by hedge funds and other institutional investors.

Metlife stock opened at $44.65 on Monday. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.29. Metlife Inc has a 52 week low of $43.09 and a 52 week high of $55.91. The firm has a market cap of $44.42 billion, a PE ratio of 9.92, a price-to-earnings-growth ratio of 0.68 and a beta of 1.23.

Metlife (NYSE:MET) last posted its quarterly earnings results on Wednesday, August 1st. The financial services provider reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. Metlife had a return on equity of 9.17% and a net margin of 6.12%. The company had revenue of $21.22 billion during the quarter, compared to analysts’ expectations of $15.65 billion. During the same quarter in the previous year, the firm earned $1.04 EPS. Metlife’s revenue was up 36.8% on a year-over-year basis. research analysts forecast that Metlife Inc will post 5.22 EPS for the current year.

Metlife declared that its board has approved a share repurchase program on Tuesday, May 22nd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the financial services provider to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 13th. Stockholders of record on Monday, August 6th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, August 3rd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.76%. Metlife’s dividend payout ratio (DPR) is currently 37.33%.

Several equities analysts have weighed in on the company. Sandler O’Neill reaffirmed a “hold” rating and issued a $50.00 price objective on shares of Metlife in a report on Thursday, August 2nd. ValuEngine cut Metlife from a “hold” rating to a “sell” rating in a report on Saturday, June 2nd. Zacks Investment Research cut Metlife from a “buy” rating to a “hold” rating in a report on Tuesday, July 3rd. Deutsche Bank dropped their price objective on Metlife from $51.00 to $48.00 and set a “hold” rating for the company in a report on Friday, May 4th. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Metlife in a report on Tuesday, May 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. Metlife presently has a consensus rating of “Hold” and a consensus target price of $55.07.

Metlife Profile

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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Institutional Ownership by Quarter for Metlife (NYSE:MET)

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