Silvercrest Asset Management Group LLC Trims Holdings in MetLife, Inc. (NYSE:MET)

Silvercrest Asset Management Group LLC lessened its stake in MetLife, Inc. (NYSE:MET) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,570 shares of the financial services provider’s stock after selling 200 shares during the period. Silvercrest Asset Management Group LLC’s holdings in MetLife were worth $1,111,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MET. Transce3nd LLC bought a new stake in shares of MetLife in the 4th quarter valued at approximately $26,000. Quarry LP acquired a new position in MetLife in the fourth quarter worth $31,000. Sierra Ocean LLC bought a new stake in MetLife during the fourth quarter valued at $32,000. Graney & King LLC acquired a new stake in shares of MetLife during the fourth quarter worth $34,000. Finally, Values First Advisors Inc. bought a new position in shares of MetLife in the 4th quarter worth about $36,000. 94.99% of the stock is owned by institutional investors and hedge funds.

MetLife Stock Performance

Shares of MET opened at $80.25 on Wednesday. The firm has a market capitalization of $53.87 billion, a PE ratio of 13.44, a P/E/G ratio of 0.65 and a beta of 0.85. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average price of $77.12 and a 200 day moving average price of $81.15. MetLife, Inc. has a 52-week low of $65.21 and a 52-week high of $89.05.

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

MetLife Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders 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. This represents a $2.27 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Tuesday, May 6th. MetLife’s dividend payout ratio (DPR) is presently 36.91%.

MetLife announced that its board has approved a share 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 reacquire up to 5.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a research report on Monday, May 5th. Keefe, Bruyette & Woods lowered their target price on MetLife from $98.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. UBS Group increased their price target on MetLife from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, April 2nd. Piper Sandler boosted their price objective on MetLife from $92.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Finally, Cowen restated a “buy” rating on shares of MetLife in a research note on Friday, March 7th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, MetLife currently has a consensus rating of “Moderate Buy” and an average target price of $93.08.

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.