Avidian Wealth Solutions LLC Has $286,000 Position in MetLife, Inc. (NYSE:MET)

Avidian Wealth Solutions LLC lessened its stake in shares of MetLife, Inc. (NYSE:MET) by 8.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,323 shares of the financial services provider’s stock after selling 407 shares during the period. Avidian Wealth Solutions LLC’s holdings in MetLife were worth $286,000 as of its most recent SEC filing.

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

MetLife Stock Performance

Shares of MET stock opened at $71.19 on Tuesday. 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, Inc. has a one year low of $48.95 and a one year high of $74.68. The business’s 50 day simple moving average is $71.71 and its 200 day simple moving average is $67.57. The stock has a market capitalization of $50.62 billion, a PE ratio of 24.46, a PEG ratio of 0.56 and a beta of 1.03.

MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share for the quarter, hitting the consensus estimate of $1.83. The company had revenue of $17.02 billion during the quarter, compared to analysts’ expectations of $17.73 billion. MetLife had a net margin of 3.50% and a return on equity of 20.39%. MetLife’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.52 earnings per share. As a group, research analysts forecast that MetLife, Inc. will post 8.69 earnings per share for the current year.

MetLife announced that its Board of Directors has approved a share buyback plan on Wednesday, May 1st that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

MetLife Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 7th will be issued a dividend of $0.545 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $2.18 annualized dividend and a dividend yield of 3.06%. This is a positive change from MetLife’s previous quarterly dividend of $0.52. MetLife’s dividend payout ratio is currently 71.48%.

Insider Transactions at MetLife

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

Analysts Set New Price Targets

MET has been the topic of several recent research reports. StockNews.com upgraded shares of MetLife from a “hold” rating to a “buy” rating in a research note on Friday. Morgan Stanley boosted their price objective on MetLife from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods increased their target price on MetLife from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. The Goldman Sachs Group raised MetLife from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $70.00 to $80.00 in a report on Monday, January 8th. Finally, Piper Sandler decreased their price target on MetLife from $85.00 to $82.00 and set an “overweight” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $79.00.

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.