MetLife, Inc. (NYSE:MET) Stock Position Lowered by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lessened its position in MetLife, Inc. (NYSE:MET) by 19.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 164,939 shares of the financial services provider’s stock after selling 39,815 shares during the quarter. Los Angeles Capital Management LLC’s holdings in MetLife were worth $12,224,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. NBC Securities Inc. lifted its position in shares of MetLife by 2.9% in the 1st quarter. NBC Securities Inc. now owns 10,053 shares of the financial services provider’s stock valued at $745,000 after acquiring an additional 281 shares in the last quarter. CWM LLC lifted its position in shares of MetLife by 7.5% in the 1st quarter. CWM LLC now owns 13,433 shares of the financial services provider’s stock valued at $996,000 after acquiring an additional 942 shares in the last quarter. HighPoint Advisor Group LLC purchased a new stake in shares of MetLife in the 4th quarter valued at approximately $1,092,000. Leo Wealth LLC purchased a new stake in shares of MetLife in the 4th quarter valued at approximately $258,000. Finally, Spartan Planning & Wealth Management lifted its position in shares of MetLife by 330.3% in the 4th quarter. Spartan Planning & Wealth Management now owns 852 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 654 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

MetLife Stock Performance

NYSE:MET opened at $69.86 on Thursday. MetLife, Inc. has a 1 year low of $52.97 and a 1 year high of $74.68. The firm’s fifty day simple moving average is $71.14 and its 200 day simple moving average is $69.79. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $49.68 billion, a PE ratio of 24.01, a PEG ratio of 0.59 and a beta of 1.12.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.83. MetLife had a net margin of 3.50% and a return on equity of 20.39%. The business had revenue of $17.02 billion for the quarter, compared to analyst estimates of $17.73 billion. During the same period last year, the business posted $1.52 EPS. MetLife’s revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that MetLife, Inc. will post 8.62 EPS for the current year.

MetLife Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, May 7th were paid a $0.545 dividend. The ex-dividend date of this dividend was Monday, May 6th. This is a positive change from MetLife’s previous quarterly dividend of $0.52. This represents a $2.18 dividend on an annualized basis and a yield of 3.12%. MetLife’s dividend payout ratio (DPR) is presently 74.91%.

MetLife announced that its board has initiated a stock repurchase program on Wednesday, May 1st that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MET. StockNews.com upgraded shares of MetLife from a “hold” rating to a “buy” rating in a research report on Tuesday. Keefe, Bruyette & Woods cut their target price on shares of MetLife from $87.00 to $86.00 and set an “outperform” rating for the company in a research report on Tuesday, May 7th. Argus increased their target price on shares of MetLife from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Morgan Stanley increased their target price on shares of MetLife from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, Wells Fargo & Company cut their target price on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $79.08.

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.