Arthur M. Cohen & Associates LLC Sells 370 Shares of MetLife, Inc. (NYSE:MET)

Arthur M. Cohen & Associates LLC cut its stake in shares of MetLife, Inc. (NYSE:MET) by 11.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,759 shares of the financial services provider’s stock after selling 370 shares during the quarter. Arthur M. Cohen & Associates LLC’s holdings in MetLife were worth $222,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ball & Co Wealth Management Inc. acquired a new stake in shares of MetLife during the 4th quarter worth about $25,000. Transce3nd LLC bought a new stake in MetLife during the fourth quarter worth about $26,000. Quarry LP bought a new position in shares of MetLife in the fourth quarter valued at approximately $31,000. Sierra Ocean LLC acquired a new position in shares of MetLife in the 4th quarter worth approximately $32,000. Finally, Graney & King LLC acquired a new stake in MetLife during the 4th quarter valued at $34,000. Institutional investors and hedge funds own 94.99% of the company’s stock.

Analyst Ratings Changes

MET has been the topic of several research analyst reports. Barclays decreased 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. Piper Sandler raised their price objective on shares of MetLife from $92.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Wells Fargo & Company upped their target price on shares of MetLife from $91.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. Cowen reissued a “buy” rating on shares of MetLife in a report on Friday, March 7th. Finally, Morgan Stanley upped their price objective on MetLife from $94.00 to $99.00 and gave the stock an “overweight” rating in a report on Monday, May 19th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, MetLife currently has an average rating of “Moderate Buy” and an average price target of $94.17.

MetLife Trading Down 0.6%

Shares of NYSE MET opened at $78.86 on Thursday. The company’s 50 day simple moving average is $76.21 and its 200 day simple moving average is $80.92. The firm has a market capitalization of $52.94 billion, a P/E ratio of 13.21, a P/E/G ratio of 0.65 and a beta of 0.86. MetLife, Inc. has a fifty-two week low of $65.21 and a fifty-two week high of $89.05. 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 (NYSE:MET) last announced 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). The company had revenue of $18.57 billion for the quarter, compared to analyst estimates of $18.06 billion. MetLife had a return on equity of 20.42% and a net margin of 6.19%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period last year, the firm earned $1.83 earnings per share. On average, analysts predict that MetLife, Inc. will post 9.65 EPS for the current year.

MetLife announced that its Board of Directors has authorized a share repurchase plan 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 purchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

MetLife Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 6th will be given 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 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Tuesday, May 6th. MetLife’s payout ratio is presently 36.91%.

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.