Rehmann Capital Advisory Group Acquires 409 Shares of MetLife, Inc. (NYSE:MET)

Rehmann Capital Advisory Group lifted its holdings in shares of MetLife, Inc. (NYSE:MET) by 6.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 7,093 shares of the financial services provider’s stock after purchasing an additional 409 shares during the quarter. Rehmann Capital Advisory Group’s holdings in MetLife were worth $581,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in MET. Transce3nd LLC acquired a new stake in MetLife during the fourth quarter valued at approximately $26,000. Quarry LP acquired a new stake in MetLife in the 4th quarter valued at $31,000. Retirement Wealth Solutions LLC acquired a new position in MetLife during the fourth quarter worth $32,000. Sierra Ocean LLC bought a new position in shares of MetLife during the fourth quarter valued at $32,000. Finally, Graney & King LLC acquired a new stake in shares of MetLife in the 4th quarter valued at $34,000. 94.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MET shares. Wells Fargo & Company cut their price target on shares of MetLife from $97.00 to $91.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Morgan Stanley decreased their price target on MetLife from $109.00 to $94.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Barclays cut their price objective on MetLife from $95.00 to $88.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. BMO Capital Markets initiated coverage on MetLife in a report on Thursday, January 23rd. They set a “market perform” rating and a $97.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their price target on shares of MetLife from $88.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, MetLife presently has an average rating of “Moderate Buy” and a consensus price target of $92.46.

MetLife Price Performance

MET opened at $75.76 on Friday. The company has a fifty day moving average price of $77.85 and a two-hundred day moving average price of $81.56. The firm has a market capitalization of $51.61 billion, a PE ratio of 12.69, a P/E/G ratio of 0.65 and a beta of 0.89. MetLife, Inc. has a 52 week low of $65.21 and a 52 week high of $89.05. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.16 and a current ratio of 0.16.

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

MetLife Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 6th will be paid a dividend of $0.5675 per share. 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 3.00%. MetLife’s dividend payout ratio (DPR) is presently 38.02%.

MetLife announced that its board has authorized a stock buyback program on Wednesday, April 30th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 5.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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.