Zhang Financial LLC Purchases Shares of 5,378 MetLife, Inc. (NYSE:MET)

Zhang Financial LLC acquired a new stake in MetLife, Inc. (NYSE:METGet Rating) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,378 shares of the financial services provider’s stock, valued at approximately $336,000.

Several other hedge funds have also recently bought and sold shares of MET. Creative Planning boosted its holdings in shares of MetLife by 21.5% in the third quarter. Creative Planning now owns 41,905 shares of the financial services provider’s stock valued at $2,587,000 after acquiring an additional 7,407 shares during the period. IndexIQ Advisors LLC lifted its holdings in shares of MetLife by 3.9% during the third quarter. IndexIQ Advisors LLC now owns 11,740 shares of the financial services provider’s stock worth $725,000 after purchasing an additional 446 shares during the period. Buckingham Strategic Wealth LLC lifted its holdings in shares of MetLife by 8.5% during the third quarter. Buckingham Strategic Wealth LLC now owns 6,856 shares of the financial services provider’s stock worth $423,000 after purchasing an additional 540 shares during the period. CX Institutional lifted its holdings in shares of MetLife by 25.1% during the third quarter. CX Institutional now owns 1,926 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 387 shares during the period. Finally, BOKF NA acquired a new stake in shares of MetLife during the third quarter worth $1,106,000. 89.65% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently weighed in on MET shares. Morgan Stanley increased their price target on MetLife from $76.00 to $79.00 and gave the stock an “overweight” rating in a report on Tuesday, February 22nd. Piper Sandler raised their target price on MetLife from $77.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, April 6th. Wolfe Research started coverage on MetLife in a report on Friday, January 21st. They issued a “market perform” rating and a $70.00 target price for the company. Jefferies Financial Group started coverage on MetLife in a report on Tuesday, January 25th. They issued a “buy” rating and a $74.00 target price for the company. Finally, JPMorgan Chase & Co. raised their target price on MetLife from $69.00 to $75.00 in a report on Tuesday, April 5th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, MetLife currently has a consensus rating of “Buy” and a consensus target price of $74.67.

Shares of MET stock traded up $1.32 during mid-day trading on Tuesday, reaching $64.94. The stock had a trading volume of 70,898 shares, compared to its average volume of 4,217,975. MetLife, Inc. has a 12-month low of $55.21 and a 12-month high of $73.18. The company has a market cap of $52.81 billion, a P/E ratio of 8.24, a price-to-earnings-growth ratio of 1.14 and a beta of 1.15. The business has a 50-day simple moving average of $68.33 and a 200 day simple moving average of $65.95. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.27.

MetLife (NYSE:METGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The financial services provider reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.45. The firm had revenue of $17.72 billion during the quarter, compared to analysts’ expectations of $16.81 billion. MetLife had a return on equity of 12.04% and a net margin of 9.63%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.20 EPS. Research analysts anticipate that MetLife, Inc. will post 7.51 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 14th. Investors of record on Tuesday, May 10th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Monday, May 9th. This is a boost from MetLife’s previous quarterly dividend of $0.48. MetLife’s dividend payout ratio (DPR) is currently 25.91%.

MetLife announced that its board has approved a share repurchase program on Wednesday, May 4th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 5.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

About MetLife (Get Rating)

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through five segments: U.S.; 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.

See Also

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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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