KLCM Advisors Inc. boosted its position in Metlife Inc (NYSE:MET) by 71.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 340,193 shares of the financial services provider’s stock after purchasing an additional 141,435 shares during the period. Metlife comprises 4.2% of KLCM Advisors Inc.’s investment portfolio, making the stock its 8th biggest position. KLCM Advisors Inc.’s holdings in Metlife were worth $15,611,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MET. First Dallas Securities Inc. purchased a new stake in shares of Metlife during the 4th quarter valued at approximately $111,000. Sandy Spring Bank increased its holdings in shares of Metlife by 495.2% in the 4th quarter. Sandy Spring Bank now owns 2,375 shares of the financial services provider’s stock worth $120,000 after buying an additional 1,976 shares during the last quarter. Wagner Wealth Management LLC bought a new position in shares of Metlife in the 4th quarter worth $126,000. Avestar Capital LLC bought a new position in shares of Metlife in the 4th quarter worth $135,000. Finally, Jacobi Capital Management LLC grew its holdings in shares of Metlife by 70.3% during the 1st quarter. Jacobi Capital Management LLC now owns 3,546 shares of the financial services provider’s stock valued at $160,000 after purchasing an additional 1,464 shares during the last quarter. Hedge funds and other institutional investors own 77.29% of the company’s stock.
In related news, Director Gerald L. Hassell bought 10,000 shares of the stock in a transaction dated Wednesday, May 9th. The shares were purchased at an average price of $46.18 per share, with a total value of $461,800.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is currently owned by insiders.
Several research firms recently commented on MET. ValuEngine lowered shares of Metlife from a “hold” rating to a “sell” rating in a report on Saturday, June 2nd. Zacks Investment Research raised shares of Metlife from a “sell” rating to a “hold” rating in a research report on Tuesday, April 3rd. Bank of America assumed coverage on shares of Metlife in a research report on Monday, March 26th. They issued a “neutral” rating and a $50.00 target price for the company. Deutsche Bank dropped their target price on shares of Metlife from $51.00 to $48.00 and set a “hold” rating for the company in a research report on Friday, May 4th. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Metlife in a research report on Tuesday, May 1st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $56.81.
Shares of Metlife opened at $46.77 on Friday, according to MarketBeat Ratings. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.15 and a quick ratio of 0.15. Metlife Inc has a 12-month low of $43.38 and a 12-month high of $55.91. The company has a market cap of $48.39 billion, a P/E ratio of 10.39, a price-to-earnings-growth ratio of 0.82 and a beta of 1.19.
Metlife (NYSE:MET) last issued its quarterly earnings results on Wednesday, May 2nd. The financial services provider reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.19. Metlife had a net margin of 6.48% and a return on equity of 8.70%. The business had revenue of $15.15 billion for the quarter, compared to the consensus estimate of $15.52 billion. During the same quarter in the previous year, the firm earned $1.20 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis. equities research analysts anticipate that Metlife Inc will post 5.07 EPS for the current year.
Metlife declared that its board has approved a stock repurchase program on Tuesday, May 22nd that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 13th. Stockholders of record on Monday, May 7th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.59%. The ex-dividend date was Friday, May 4th. This is an increase from Metlife’s previous quarterly dividend of $0.40. Metlife’s payout ratio is 37.33%.
Metlife Company Profile
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; 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, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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