2,777 Shares in MetLife, Inc. (NYSE:MET) Bought by Delap Wealth Advisory LLC

Delap Wealth Advisory LLC acquired a new stake in shares of MetLife, Inc. (NYSE:MET) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,777 shares of the financial services provider’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Criterion Capital Advisors LLC purchased a new position in shares of MetLife in the fourth quarter worth about $26,000. Planned Solutions Inc. acquired a new stake in MetLife during the fourth quarter worth about $28,000. GoalVest Advisory LLC increased its position in 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 purchasing an additional 165 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in MetLife during the fourth quarter worth about $34,000. Finally, Pineridge Advisors LLC acquired a new stake in MetLife during the fourth quarter worth about $39,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Morgan Stanley raised their price objective on shares of MetLife from $82.00 to $83.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Keefe, Bruyette & Woods dropped their price target on shares of MetLife from $86.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Wells Fargo & Company dropped their price target on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. JPMorgan Chase & Co. lifted their price target on shares of MetLife from $81.00 to $86.00 and gave the company an “overweight” rating in a research report on Tuesday, July 2nd. Finally, Piper Sandler dropped their price target on shares of MetLife from $85.00 to $82.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.08.

MetLife Stock Up 0.9 %

Shares of MET stock traded up $0.67 during trading on Friday, reaching $75.99. The company’s stock had a trading volume of 1,031,066 shares, compared to its average volume of 3,319,108. MetLife, Inc. has a 1-year low of $57.91 and a 1-year high of $76.90. The stock’s 50-day moving average price is $71.65 and its 200 day moving average price is $70.95. 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 $54.04 billion, a price-to-earnings ratio of 25.88, a P/E/G ratio of 0.64 and a beta of 1.11.

MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share (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 company had revenue of $17.02 billion during the quarter, compared to the consensus estimate of $17.73 billion. During the same quarter in the previous year, the firm earned $1.52 earnings per share. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, research analysts anticipate that MetLife, Inc. will post 8.59 EPS for the current year.

MetLife Announces Dividend

The company 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. The ex-dividend date is Tuesday, August 6th. This represents a $2.18 dividend on an annualized basis and a yield of 2.87%. MetLife’s dividend payout ratio is currently 74.91%.

MetLife announced that its Board of Directors has authorized a stock repurchase program on Wednesday, May 1st that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.