MetLife, Inc. (NYSE:MET) Shares Purchased by Summit Trail Advisors LLC

Summit Trail Advisors LLC increased its stake in shares of MetLife, Inc. (NYSE:MET) by 9.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,154 shares of the financial services provider’s stock after purchasing an additional 536 shares during the period. Summit Trail Advisors LLC’s holdings in MetLife were worth $407,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MET. Spire Wealth Management increased its holdings in shares of MetLife by 4.6% in the 4th quarter. Spire Wealth Management now owns 7,288 shares of the financial services provider’s stock valued at $502,000 after acquiring an additional 321 shares during the last quarter. AJOVista LLC purchased a new stake in shares of MetLife during the 4th quarter valued at about $141,000. W Advisors LLC acquired a new position in MetLife during the 4th quarter worth approximately $222,000. Benjamin F. Edwards & Company Inc. boosted its holdings in MetLife by 36.4% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 11,114 shares of the financial services provider’s stock worth $735,000 after acquiring an additional 2,966 shares during the period. Finally, Silver Lake Advisory LLC grew its position in MetLife by 0.5% in the fourth quarter. Silver Lake Advisory LLC now owns 74,701 shares of the financial services provider’s stock valued at $4,940,000 after acquiring an additional 368 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

MetLife Stock Performance

MetLife stock opened at $71.37 on Wednesday. The company has a market cap of $50.75 billion, a PE ratio of 24.49, a P/E/G ratio of 0.56 and a beta of 1.03. MetLife, Inc. has a 12 month low of $48.95 and a 12 month high of $74.68. The company has a fifty day moving average price of $71.76 and a two-hundred day moving average price of $67.65. 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 data 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 the consensus estimate of $17.73 billion. During the same quarter in the prior year, the firm earned $1.52 EPS. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. Research analysts expect that MetLife, Inc. will post 8.69 earnings per share for the current year.

MetLife Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Tuesday, May 7th will be given a dividend of $0.545 per share. The ex-dividend date is Monday, May 6th. This represents a $2.18 dividend on an annualized basis and a yield of 3.05%. This is a positive change from MetLife’s previous quarterly dividend of $0.52. MetLife’s payout ratio is currently 71.48%.

MetLife announced that its Board of Directors has authorized a share repurchase program on Wednesday, May 1st that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Morgan Stanley boosted 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. Piper Sandler lowered their target price on MetLife from $85.00 to $82.00 and set an “overweight” rating for the company in a research note on Monday. StockNews.com upgraded MetLife from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Wells Fargo & Company raised their price objective on MetLife from $83.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, UBS Group cut their target price on MetLife from $87.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, MetLife presently has an average rating of “Moderate Buy” and a consensus price target of $78.92.

Insider Buying and Selling

In related news, EVP Bill Pappas sold 27,000 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $72.27, for a total value of $1,951,290.00. Following the sale, the executive vice president now owns 57,768 shares of the company’s stock, valued at approximately $4,174,893.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Bill Pappas sold 27,000 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $72.27, for a total value of $1,951,290.00. Following the completion of the transaction, the executive vice president now directly owns 57,768 shares of the company’s stock, valued at approximately $4,174,893.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ramy Tadros sold 4,026 shares of MetLife stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $71.90, for a total value of $289,469.40. Following the sale, the insider now directly owns 146,981 shares in the company, valued at approximately $10,567,933.90. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.

MetLife Company 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.