Mather Group LLC. Acquires 1,038 Shares of MetLife, Inc. (NYSE:MET)

Mather Group LLC. increased its holdings in MetLife, Inc. (NYSE:MET) by 22.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,635 shares of the financial services provider’s stock after purchasing an additional 1,038 shares during the period. Mather Group LLC.’s holdings in MetLife were worth $418,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its holdings in MetLife by 678.4% during the 4th quarter. International Assets Investment Management LLC now owns 287,311 shares of the financial services provider’s stock valued at $19,000,000 after purchasing an additional 250,402 shares in the last quarter. Allworth Financial LP increased its position in MetLife by 32.9% in the 4th quarter. Allworth Financial LP now owns 8,566 shares of the financial services provider’s stock valued at $566,000 after acquiring an additional 2,120 shares in the last quarter. Prime Capital Investment Advisors LLC increased its position in MetLife by 28.0% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 9,377 shares of the financial services provider’s stock valued at $620,000 after acquiring an additional 2,052 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of MetLife by 2.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 13,332 shares of the financial services provider’s stock worth $882,000 after purchasing an additional 294 shares in the last quarter. Finally, Americana Partners LLC grew its stake in shares of MetLife by 4.8% during the fourth quarter. Americana Partners LLC now owns 15,586 shares of the financial services provider’s stock valued at $1,031,000 after purchasing an additional 711 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

MetLife Stock Up 0.9 %

MET traded up $0.62 on Tuesday, hitting $68.58. 4,156,121 shares of the company were exchanged, compared to its average volume of 3,374,176. MetLife, Inc. has a 12 month low of $57.91 and a 12 month high of $79.34. The company has a market cap of $48.77 billion, a PE ratio of 23.57, a PEG ratio of 0.65 and a beta of 1.11. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.16 and a current ratio of 0.16. The stock’s fifty day moving average is $71.85 and its 200-day moving average is $71.25.

MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.15. MetLife had a net margin of 4.23% and a return on equity of 21.41%. The firm had revenue of $17.82 billion during the quarter, compared to analysts’ expectations of $18.57 billion. During the same quarter last year, the company posted $1.94 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts predict that MetLife, Inc. will post 8.62 EPS for the current fiscal year.

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

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 6th will be paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Tuesday, August 6th. MetLife’s dividend payout ratio (DPR) is presently 74.91%.

Analysts Set New Price Targets

Several research analysts have issued reports on MET shares. Jefferies Financial Group upped their price objective on MetLife from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Keefe, Bruyette & Woods dropped their price objective on MetLife from $86.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, July 8th. StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. boosted their price target on shares of MetLife from $81.00 to $86.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 2nd. Finally, Piper Sandler reduced their target price on MetLife from $85.00 to $82.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.77.

MetLife 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.