6,050 Shares in MetLife, Inc. (NYSE:MET) Purchased by AIA Group Ltd

AIA Group Ltd purchased a new position in MetLife, Inc. (NYSE:MET) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,050 shares of the financial services provider’s stock, valued at approximately $448,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Criterion Capital Advisors LLC acquired a new stake in shares of MetLife during the fourth quarter worth approximately $26,000. Planned Solutions Inc. acquired a new stake in shares of MetLife during the fourth quarter worth approximately $28,000. GoalVest Advisory LLC increased its holdings in shares of MetLife by 73.3% during 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. Tennessee Valley Asset Management Partners acquired a new stake in shares of MetLife during the fourth quarter worth approximately $34,000. Finally, Pineridge Advisors LLC bought a new stake in shares of MetLife during the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

MetLife Stock Up 1.3 %

Shares of NYSE:MET traded up $0.95 during midday trading on Friday, reaching $73.39. 3,810,207 shares of the company were exchanged, compared to its average volume of 3,374,319. MetLife, Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $74.68. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The stock has a fifty day simple moving average of $71.15 and a two-hundred day simple moving average of $70.43. The firm has a market cap of $52.19 billion, a PE ratio of 25.22, a P/E/G ratio of 0.60 and a beta of 1.11.

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

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

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 6th will be paid a $0.545 dividend. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $2.18 annualized dividend and a yield of 2.97%. MetLife’s payout ratio is currently 74.91%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wells Fargo & Company decreased their price target on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Argus increased their price target on shares of MetLife from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Jefferies Financial Group decreased their price target on shares of MetLife from $88.00 to $83.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Morgan Stanley increased their price target on shares of MetLife from $82.00 to $83.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of MetLife from $86.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $80.23.

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.