MetLife, Inc. (NYSE:MET) Shares Sold by GDS Wealth Management

GDS Wealth Management lessened its stake in shares of MetLife, Inc. (NYSE:MET) by 4.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,069 shares of the financial services provider’s stock after selling 255 shares during the period. GDS Wealth Management’s holdings in MetLife were worth $401,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of MET. Great Valley Advisor Group Inc. lifted its holdings in shares of MetLife by 1.9% in the 4th quarter. Great Valley Advisor Group Inc. now owns 8,898 shares of the financial services provider’s stock valued at $588,000 after buying an additional 167 shares during the period. Eley Financial Management Inc lifted its holdings in shares of MetLife by 1.0% in the 3rd quarter. Eley Financial Management Inc now owns 16,348 shares of the financial services provider’s stock valued at $1,028,000 after buying an additional 168 shares during the period. Austin Private Wealth LLC lifted its holdings in shares of MetLife by 4.1% in the 4th quarter. Austin Private Wealth LLC now owns 4,367 shares of the financial services provider’s stock valued at $289,000 after buying an additional 170 shares during the period. KLCM Advisors Inc. lifted its holdings in shares of MetLife by 3.6% in the 3rd quarter. KLCM Advisors Inc. now owns 4,920 shares of the financial services provider’s stock valued at $310,000 after buying an additional 171 shares during the period. Finally, Highland Capital Management LLC lifted its holdings in shares of MetLife by 0.3% in the 4th quarter. Highland Capital Management LLC now owns 61,738 shares of the financial services provider’s stock valued at $4,083,000 after buying an additional 180 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

MetLife Trading Up 1.2 %

Shares of MET stock traded up $0.88 during mid-day trading on Thursday, hitting $72.54. 2,752,035 shares of the company’s stock were exchanged, compared to its average volume of 3,535,352. MetLife, Inc. has a fifty-two week low of $48.95 and a fifty-two week high of $74.68. The stock has a 50-day simple moving average of $71.80 and a two-hundred day simple moving average of $67.68. 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 market cap of $51.58 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 0.56 and a beta of 1.03.

MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.83. MetLife had a return on equity of 20.39% and a net margin of 3.50%. The business had revenue of $17.02 billion for the quarter, compared to analysts’ expectations of $17.73 billion. During the same quarter last year, the firm earned $1.52 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. Equities analysts expect that MetLife, Inc. will post 8.69 EPS for the current fiscal year.

MetLife Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Tuesday, May 7th will be issued a $0.545 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $2.18 dividend on an annualized basis and a yield of 3.01%. This is a boost from MetLife’s previous quarterly dividend of $0.52. MetLife’s dividend payout ratio (DPR) is presently 71.48%.

MetLife announced that its Board of Directors has authorized 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 repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on MET shares. Piper Sandler dropped their price objective on MetLife from $85.00 to $82.00 and set an “overweight” rating for the company in a research note on Monday. StockNews.com raised MetLife from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Morgan Stanley raised their price objective on MetLife from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods dropped their price objective on MetLife from $87.00 to $86.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Wells Fargo & Company raised their price objective on MetLife from $83.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $78.92.

Insider Activity at MetLife

In other MetLife news, insider Ramy Tadros sold 4,026 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total transaction of $289,469.40. Following the transaction, the insider now owns 146,981 shares in the company, valued at $10,567,933.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Bill Pappas sold 27,000 shares of MetLife stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $72.27, for a total transaction of $1,951,290.00. Following the sale, the executive vice president now directly owns 57,768 shares of the company’s stock, valued at $4,174,893.36. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Ramy Tadros sold 4,026 shares of MetLife stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total value of $289,469.40. Following the sale, the insider now directly owns 146,981 shares in the company, valued at $10,567,933.90. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.

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.