MetLife, Inc. (NYSE:MET) Shares Sold by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV lowered its stake in shares of MetLife, Inc. (NYSE:MET) by 0.8% in the fourth quarter, HoldingsChannel reports. The firm owned 73,279 shares of the financial services provider’s stock after selling 576 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in MetLife were worth $6,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Brookstone Capital Management grew its position in MetLife by 15.8% in the 4th quarter. Brookstone Capital Management now owns 6,504 shares of the financial services provider’s stock worth $533,000 after purchasing an additional 889 shares during the last quarter. Miracle Mile Advisors LLC acquired a new stake in MetLife in the 4th quarter valued at approximately $541,000. SeaCrest Wealth Management LLC raised its stake in MetLife by 5.7% during the 4th quarter. SeaCrest Wealth Management LLC now owns 4,753 shares of the financial services provider’s stock valued at $389,000 after acquiring an additional 258 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its stake in shares of MetLife by 15.2% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 11,167 shares of the financial services provider’s stock worth $914,000 after purchasing an additional 1,474 shares in the last quarter. Finally, Kathmere Capital Management LLC acquired a new position in shares of MetLife during the fourth quarter valued at $211,000. 94.99% of the stock is currently owned by institutional investors.

MetLife Trading Up 0.6%

Shares of NYSE MET opened at $80.42 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.54. MetLife, Inc. has a 12 month low of $65.21 and a 12 month high of $89.05. The company has a market cap of $53.99 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 0.65 and a beta of 0.85. The business has a fifty day simple moving average of $76.99 and a 200-day simple moving average of $81.15.

MetLife (NYSE:MET) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $1.96 EPS for the quarter, missing the consensus estimate of $2.00 by ($0.04). MetLife had a return on equity of 20.42% and a net margin of 6.19%. The firm had revenue of $18.57 billion during the quarter, compared to analyst estimates of $18.06 billion. During the same quarter in the previous year, the business earned $1.83 earnings per share. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. Sell-side analysts predict that MetLife, Inc. will post 9.65 EPS for the current year.

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

MetLife Increases Dividend

The company also recently announced 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 an increase from MetLife’s previous quarterly dividend of $0.55. This represents a $2.27 annualized dividend and a yield of 2.82%. The ex-dividend date is Tuesday, May 6th. MetLife’s payout ratio is 36.91%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MET shares. Piper Sandler upped their price objective on shares of MetLife from $92.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. StockNews.com upgraded shares of MetLife from a “hold” rating to a “buy” rating in a research note on Monday, May 5th. Barclays dropped their target price on MetLife from $95.00 to $88.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Wells Fargo & Company increased their price target on MetLife from $91.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, May 6th. Finally, UBS Group boosted their price objective on MetLife from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.69.

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.