Jacobs Levy Equity Management Inc. Buys 6,577 Shares of MetLife, Inc. (NYSE:MET)

Jacobs Levy Equity Management Inc. boosted its stake in shares of MetLife, Inc. (NYSE:MET) by 5.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 138,113 shares of the financial services provider’s stock after buying an additional 6,577 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in MetLife were worth $10,236,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Criterion Capital Advisors LLC purchased a new stake in shares of MetLife during the 4th quarter worth $26,000. GoalVest Advisory LLC boosted its holdings in shares of MetLife by 73.3% in the 1st quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider’s stock valued at $29,000 after buying an additional 165 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new position in shares of MetLife in the 4th quarter worth approximately $34,000. Pineridge Advisors LLC bought a new position in shares of MetLife during the 4th quarter worth approximately $39,000. Finally, DT Investment Partners LLC purchased a new stake in MetLife during the fourth quarter valued at approximately $40,000. Institutional investors own 89.81% of the company’s stock.

MetLife Price Performance

NYSE MET traded up $0.32 on Wednesday, hitting $77.07. The company had a trading volume of 967,527 shares, compared to its average volume of 3,296,482. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market capitalization of $54.81 billion, a PE ratio of 26.37, a PEG ratio of 0.65 and a beta of 1.11. MetLife, Inc. has a 12-month low of $57.91 and a 12-month high of $77.22. The company’s fifty day moving average price is $71.82 and its 200-day moving average price is $71.12.

MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share 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 firm 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% on a year-over-year basis. As a group, analysts predict that MetLife, Inc. will post 8.59 earnings per share for the current year.

MetLife Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 6th will be given a $0.545 dividend. The ex-dividend date is Tuesday, August 6th. This represents a $2.18 annualized dividend and a dividend yield of 2.83%. MetLife’s dividend payout ratio (DPR) is presently 74.91%.

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MET shares. Wells Fargo & Company reduced their target price on MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Morgan Stanley lifted their target price on shares of MetLife from $82.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Piper Sandler cut their price target on shares of MetLife from $85.00 to $82.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Citigroup lifted their price objective on shares of MetLife from $83.00 to $89.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Argus upped their target price on MetLife from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.08.

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.