MetLife, Inc. (NYSE:MET) Shares Bought by SageView Advisory Group LLC

SageView Advisory Group LLC increased its stake in MetLife, Inc. (NYSE:MET) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,162 shares of the financial services provider’s stock after buying an additional 580 shares during the quarter. SageView Advisory Group LLC’s holdings in MetLife were worth $1,215,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of MET. Criterion Capital Advisors LLC acquired a new stake in MetLife in the fourth quarter valued at approximately $26,000. Quintet Private Bank Europe S.A. acquired a new stake in MetLife during the 3rd quarter valued at $28,000. Planned Solutions Inc. purchased a new stake in MetLife during the 4th quarter worth $28,000. Tennessee Valley Asset Management Partners acquired a new position in MetLife in the 4th quarter worth $34,000. Finally, Headlands Technologies LLC acquired a new position in shares of MetLife in the third quarter worth about $36,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Stock Performance

Shares of NYSE:MET traded up $0.89 on Friday, hitting $72.54. The company’s stock had a trading volume of 3,029,280 shares, compared to its average volume of 3,186,579. The company has a market capitalization of $51.58 billion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 0.60 and a beta of 1.09. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. MetLife, Inc. has a 12 month low of $49.38 and a 12 month high of $74.68. The stock’s 50-day moving average is $72.22 and its two-hundred day moving average is $68.72.

MetLife (NYSE:MET) last released its earnings results on Wednesday, May 1st. The financial services provider reported $1.83 EPS for the quarter, meeting the consensus estimate of $1.83. The firm had revenue of $17.02 billion for the quarter, compared to analysts’ expectations of $17.73 billion. MetLife had a net margin of 3.50% and a return on equity of 20.39%. MetLife’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $1.52 EPS. On average, equities research analysts forecast that MetLife, Inc. will post 8.62 EPS for the current year.

MetLife Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Tuesday, May 7th will be paid a dividend of $0.545 per share. The ex-dividend date is Monday, May 6th. This represents a $2.18 annualized dividend and a yield of 3.01%. This is a boost from MetLife’s previous quarterly dividend of $0.52. MetLife’s dividend payout ratio (DPR) is currently 74.91%.

MetLife declared that its Board of Directors has authorized a share repurchase plan on Wednesday, May 1st that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have issued reports on MET. Piper Sandler dropped their price objective on MetLife from $85.00 to $82.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Morgan Stanley boosted their target price 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. Keefe, Bruyette & Woods reduced their price target on shares of MetLife from $87.00 to $86.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 7th. Argus upped their price objective on MetLife from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, UBS Group decreased their target price on MetLife from $87.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, February 5th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, MetLife has a consensus rating of “Moderate Buy” and a consensus price target of $79.08.

Insider Buying and Selling

In other news, EVP Bill Pappas sold 27,000 shares of MetLife stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $72.27, for a total value of $1,951,290.00. Following the transaction, the executive vice president now owns 57,768 shares of the company’s stock, valued at approximately $4,174,893.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Ramy Tadros sold 4,026 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $71.90, for a total value of $289,469.40. Following the completion of the transaction, the insider now owns 146,981 shares of the company’s stock, valued at approximately $10,567,933.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bill Pappas sold 27,000 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $72.27, for a total transaction of $1,951,290.00. Following the sale, the executive vice president now directly owns 57,768 shares in the company, valued at $4,174,893.36. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

MetLife 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.