Yousif Capital Management LLC cut its holdings in shares of MetLife, Inc. (NYSE:MET – Free Report) by 2.0% during the first quarter, HoldingsChannel.com reports. The firm owned 84,585 shares of the financial services provider’s stock after selling 1,703 shares during the period. Yousif Capital Management LLC’s holdings in MetLife were worth $6,791,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MET. Ball & Co Wealth Management Inc. purchased a new stake in MetLife in the fourth quarter valued at about $25,000. Transce3nd LLC purchased a new position in shares of MetLife in the fourth quarter worth $26,000. Quarry LP acquired a new stake in shares of MetLife during the fourth quarter worth $31,000. Sierra Ocean LLC acquired a new position in shares of MetLife in the 4th quarter valued at $32,000. Finally, Graney & King LLC acquired a new position in shares of MetLife in the 4th quarter valued at $34,000. 94.99% of the stock is currently owned by hedge funds and other institutional investors.
MetLife Stock Performance
MET opened at $78.90 on Thursday. The firm has a fifty day moving average price of $76.37 and a 200 day moving average price of $80.75. MetLife, Inc. has a 1 year low of $65.21 and a 1 year high of $89.05. The stock has a market cap of $52.96 billion, a P/E ratio of 13.22, a P/E/G ratio of 0.65 and a beta of 0.86. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.16 and a quick ratio of 0.16.
MetLife Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 6th were given a dividend of $0.5675 per share. The ex-dividend date was Tuesday, May 6th. This represents a $2.27 dividend on an annualized basis and a yield of 2.88%. This is an increase from MetLife’s previous quarterly dividend of $0.55. MetLife’s dividend payout ratio is currently 36.91%.
MetLife announced that its board has approved a share buyback plan on Wednesday, April 30th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of analysts have commented on MET shares. UBS Group lifted 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. Keefe, Bruyette & Woods cut their price target on shares of MetLife from $98.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Barclays reduced their price target on shares of MetLife from $95.00 to $88.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Piper Sandler upped their price objective on shares of MetLife from $92.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Finally, Cowen reiterated a “buy” rating on shares of MetLife in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $94.17.
Check Out Our Latest Analysis on MET
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.
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