Pineridge Advisors LLC Purchases Shares of 595 MetLife, Inc. (NYSE:MET)

Pineridge Advisors LLC acquired a new stake in MetLife, Inc. (NYSE:METFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 595 shares of the financial services provider’s stock, valued at approximately $39,000.

Several other institutional investors also recently modified their holdings of the company. Johnson Investment Counsel Inc. increased its holdings in shares of MetLife by 2.5% in the third quarter. Johnson Investment Counsel Inc. now owns 8,879 shares of the financial services provider’s stock valued at $559,000 after purchasing an additional 218 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of MetLife by 27.4% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,252 shares of the financial services provider’s stock worth $142,000 after buying an additional 485 shares during the period. Kestra Advisory Services LLC grew its stake in MetLife by 4.1% in the 3rd quarter. Kestra Advisory Services LLC now owns 86,775 shares of the financial services provider’s stock valued at $5,459,000 after buying an additional 3,441 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in MetLife by 14.6% in the 3rd quarter. Checchi Capital Advisers LLC now owns 6,020 shares of the financial services provider’s stock valued at $379,000 after acquiring an additional 769 shares during the period. Finally, Rafferty Asset Management LLC grew its position in shares of MetLife by 2.7% in the third quarter. Rafferty Asset Management LLC now owns 211,947 shares of the financial services provider’s stock valued at $13,334,000 after purchasing an additional 5,560 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Bill Pappas sold 27,000 shares of the company’s 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 approximately $4,174,893.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MET. Keefe, Bruyette & Woods reduced their price target on MetLife from $87.00 to $86.00 and set an “outperform” rating for the company in a research note on Tuesday, May 7th. Argus lifted their price objective on shares of MetLife from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Wells Fargo & Company lowered their target price on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. Piper Sandler reduced their price target on MetLife from $85.00 to $82.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. Finally, Morgan Stanley upped their target price on MetLife from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $79.08.

Check Out Our Latest Analysis on MET

MetLife Trading Down 0.2 %

Shares of MET stock traded down $0.11 during trading hours on Friday, hitting $68.55. 2,302,378 shares of the company’s stock traded hands, compared to its average volume of 2,720,064. The stock has a market cap of $48.75 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 0.58 and a beta of 1.12. MetLife, Inc. has a 12 month low of $52.97 and a 12 month high of $74.68. The stock’s 50 day simple moving average is $71.33 and its 200 day simple moving average is $69.62. 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 posted its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.83 EPS for the quarter, meeting analysts’ consensus estimates of $1.83. The company had revenue of $17.02 billion for the quarter, compared to analyst estimates of $17.73 billion. MetLife had a net margin of 3.50% and a return on equity of 20.39%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.52 EPS. On average, sell-side analysts anticipate that MetLife, Inc. will post 8.62 EPS for the current year.

MetLife declared that its board has authorized a stock buyback program on Wednesday, May 1st that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

MetLife Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 7th were issued a dividend of $0.545 per share. This is an increase from MetLife’s previous quarterly dividend of $0.52. The ex-dividend date was Monday, May 6th. This represents a $2.18 annualized dividend and a yield of 3.18%. MetLife’s dividend payout ratio is presently 74.91%.

MetLife 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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