SeaCrest Wealth Management LLC Decreases Holdings in MetLife, Inc. (NYSE:MET)

SeaCrest Wealth Management LLC trimmed its stake in shares of MetLife, Inc. (NYSE:MET) by 42.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,528 shares of the financial services provider’s stock after selling 3,299 shares during the period. SeaCrest Wealth Management LLC’s holdings in MetLife were worth $336,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GoalVest Advisory LLC lifted its stake in shares of MetLife by 73.3% in the first quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider’s stock worth $29,000 after buying an additional 165 shares in the last quarter. Criterion Capital Advisors LLC purchased a new position in shares of MetLife in the fourth quarter worth about $26,000. Planned Solutions Inc. purchased a new position in shares of MetLife in the fourth quarter worth about $28,000. Tennessee Valley Asset Management Partners purchased a new position in shares of MetLife in the fourth quarter worth about $34,000. Finally, Rise Advisors LLC lifted its stake in shares of MetLife by 114.7% in the first quarter. Rise Advisors LLC now owns 556 shares of the financial services provider’s stock worth $41,000 after buying an additional 297 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

MetLife Price Performance

Shares of MET opened at $70.21 on Thursday. MetLife, Inc. has a 1-year low of $56.13 and a 1-year high of $74.68. The stock has a market cap of $49.93 billion, a PE ratio of 24.13, a P/E/G ratio of 0.59 and a beta of 1.11. The firm has a 50-day simple moving average of $71.22 and a two-hundred day simple moving average of $70.20. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16.

MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share 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 during the quarter, compared to analysts’ expectations of $17.73 billion. During the same period last year, the business earned $1.52 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, analysts forecast that MetLife, Inc. will post 8.61 EPS for the current year.

MetLife Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 7th were given a dividend of $0.545 per share. The ex-dividend date of this dividend was Monday, May 6th. This is a boost from MetLife’s previous quarterly dividend of $0.52. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.10%. MetLife’s dividend payout ratio (DPR) is currently 74.91%.

MetLife announced that its Board of Directors has authorized a share repurchase plan on Wednesday, May 1st that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MET. StockNews.com downgraded shares of MetLife from a “buy” rating to a “hold” rating in a research note on Monday. JPMorgan Chase & Co. raised their price target on shares of MetLife from $81.00 to $86.00 and gave the stock an “overweight” rating in a research note on Tuesday. Argus raised their price target 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. Morgan Stanley lifted their target price on shares of MetLife from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, Piper Sandler reduced their target price on shares of MetLife from $85.00 to $82.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Two 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 target price of $80.23.

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.