Gulf International Bank UK Ltd Has $2.67 Million Position in MetLife, Inc. (NYSE:MET)

Gulf International Bank UK Ltd reduced its stake in shares of MetLife, Inc. (NYSE:MET) by 26.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 33,237 shares of the financial services provider’s stock after selling 12,006 shares during the quarter. Gulf International Bank UK Ltd’s holdings in MetLife were worth $2,668,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. S Bank Fund Management Ltd bought a new stake in shares of MetLife during the first quarter worth $493,000. National Pension Service grew its holdings in shares of MetLife by 4.7% during the first quarter. National Pension Service now owns 1,476,963 shares of the financial services provider’s stock worth $118,585,000 after purchasing an additional 66,639 shares during the last quarter. Dagco Inc. bought a new stake in shares of MetLife during the first quarter worth $68,000. Resona Asset Management Co. Ltd. grew its holdings in shares of MetLife by 7.3% during the first quarter. Resona Asset Management Co. Ltd. now owns 183,316 shares of the financial services provider’s stock worth $14,689,000 after purchasing an additional 12,424 shares during the last quarter. Finally, Callan Family Office LLC grew its holdings in shares of MetLife by 11.4% during the first quarter. Callan Family Office LLC now owns 43,755 shares of the financial services provider’s stock worth $3,513,000 after purchasing an additional 4,485 shares during the last quarter. Institutional investors own 94.99% of the company’s stock.

MetLife Price Performance

MetLife stock opened at $77.35 on Thursday. The business’s 50-day simple moving average is $77.94 and its 200 day simple moving average is $78.89. The stock has a market cap of $51.44 billion, a price-to-earnings ratio of 13.11, a P/E/G ratio of 0.68 and a beta of 0.85. MetLife, Inc. has a 12-month low of $65.21 and a 12-month high of $89.05. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.57.

MetLife (NYSE:MET) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.30). MetLife had a return on equity of 19.88% and a net margin of 5.83%. The company had revenue of $17.34 billion for the quarter, compared to the consensus estimate of $18.58 billion. During the same quarter last year, the business posted $2.28 EPS. MetLife’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, research analysts anticipate that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife declared that its Board of Directors has initiated a share buyback program on Wednesday, April 30th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 5.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

MetLife Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 5th will be issued 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 2.9%. MetLife’s dividend payout ratio (DPR) is 38.47%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MET shares. Wells Fargo & Company restated an “overweight” rating and set a $97.00 target price (up previously from $94.00) on shares of MetLife in a report on Thursday, July 10th. Wall Street Zen cut MetLife from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. Morgan Stanley restated an “overweight” rating and set a $98.00 target price (down previously from $99.00) on shares of MetLife in a report on Monday, July 14th. Barclays increased their target price on MetLife from $88.00 to $94.00 and gave the stock an “overweight” rating in a report on Monday, July 7th. Finally, UBS Group decreased their price target on MetLife from $94.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $96.00.

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.