LSV Asset Management Sells 45,800 Shares of MetLife, Inc. (NYSE:MET)

LSV Asset Management decreased its position in shares of MetLife, Inc. (NYSE:MET) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,647,300 shares of the financial services provider’s stock after selling 45,800 shares during the period. LSV Asset Management owned approximately 0.36% of MetLife worth $175,066,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Criterion Capital Advisors LLC bought a new position in MetLife in the 4th quarter worth about $26,000. Planned Solutions Inc. purchased a new position in shares of MetLife in the fourth quarter valued at about $28,000. Quintet Private Bank Europe S.A. purchased a new stake in MetLife during the 3rd quarter valued at approximately $28,000. Tennessee Valley Asset Management Partners purchased a new stake in MetLife in the 4th quarter worth $34,000. Finally, Headlands Technologies LLC purchased a new position in MetLife during the 3rd quarter valued at approximately $36,000. Institutional investors own 89.81% of the company’s stock.

Insider Transactions at MetLife

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

MetLife Price Performance

Shares of MET traded up $0.28 during mid-day trading on Friday, reaching $70.52. 3,361,215 shares of the company’s stock were exchanged, compared to its average volume of 3,164,878. The company has a 50-day simple moving average of $71.66 and a two-hundred day simple moving average of $67.45. The company has a market cap of $50.29 billion, a price-to-earnings ratio of 24.23, a PEG ratio of 0.53 and a beta of 1.03. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. MetLife, Inc. has a 52-week low of $48.95 and a 52-week high of $74.68.

MetLife (NYSE:MET) last released its earnings results on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 analysts’ expectations of $17.73 billion. During the same period last year, the company earned $1.52 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts predict that MetLife, Inc. will post 8.71 EPS for the current fiscal year.

MetLife declared that its board has initiated a share repurchase plan on Wednesday, May 1st that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

MetLife Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 7th will be given a $0.545 dividend. This is an increase from MetLife’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, May 6th. This represents a $2.18 annualized dividend and a yield of 3.09%. MetLife’s dividend payout ratio (DPR) is 71.48%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Piper Sandler lifted their target price on MetLife from $74.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. UBS Group dropped their target price on shares of MetLife from $87.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, February 5th. Morgan Stanley raised their price objective on MetLife from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods raised their price target on MetLife from $82.00 to $87.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, StockNews.com upgraded shares of MetLife from a “hold” rating to a “buy” rating in a report on Friday. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, MetLife has an average rating of “Moderate Buy” and an average price target of $79.23.

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.