Symmetry Investments LP Acquires Shares of 3,649 MetLife, Inc. (NYSE:MET)

Symmetry Investments LP acquired a new position in shares of MetLife, Inc. (NYSE:METFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,649 shares of the financial services provider’s stock, valued at approximately $241,000.

A number of other hedge funds have also recently bought and sold shares of MET. Lighthouse Investment Partners LLC bought a new stake in MetLife during the 4th quarter worth about $3,117,000. Allen Wealth Management LLC bought a new stake in shares of MetLife during the fourth quarter worth approximately $395,000. Regal Investment Advisors LLC acquired a new position in MetLife in the fourth quarter valued at approximately $464,000. Elo Mutual Pension Insurance Co boosted its stake in MetLife by 2.4% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 55,807 shares of the financial services provider’s stock valued at $3,691,000 after acquiring an additional 1,325 shares during the last quarter. Finally, Evercore Wealth Management LLC acquired a new stake in MetLife during the 4th quarter worth $243,000. 89.81% of the stock is currently owned by institutional investors.

MetLife Stock Down 1.6 %

Shares of NYSE:MET traded down $1.11 during mid-day trading on Tuesday, reaching $69.16. 134,826 shares of the stock were exchanged, compared to its average volume of 3,349,921. The stock’s 50 day simple moving average is $71.69 and its 200-day simple moving average is $69.55. MetLife, Inc. has a one year low of $52.97 and a one year high of $74.68. The company has a market cap of $49.18 billion, a P/E ratio of 24.15, a P/E/G ratio of 0.59 and a beta of 1.12. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58.

MetLife (NYSE:METGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share for the quarter, hitting the consensus estimate of $1.83. MetLife had a net margin of 3.50% and a return on equity of 20.39%. The company had revenue of $17.02 billion during the quarter, compared to analysts’ expectations of $17.73 billion. During the same period last year, the business earned $1.52 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts predict that MetLife, Inc. will post 8.62 EPS for the current year.

MetLife Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Tuesday, May 7th will be given a $0.545 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.15%. This is an increase from MetLife’s previous quarterly dividend of $0.52. MetLife’s payout ratio is currently 74.91%.

MetLife declared that its Board of Directors has approved a stock buyback program on Wednesday, May 1st that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

MET has been the topic of a number of analyst reports. Keefe, Bruyette & Woods cut their price target on MetLife from $87.00 to $86.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 7th. Piper Sandler cut their price target on shares of MetLife from $85.00 to $82.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. Wells Fargo & Company decreased their price objective on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Morgan Stanley increased their target price on shares of MetLife from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, Argus boosted their price target on shares of MetLife from $77.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $79.08.

Get Our Latest Stock Analysis on MET

Insider Buying and Selling

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

MetLife Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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