5,967 Shares in MetLife, Inc. (NYSE:MET) Bought by Allen Wealth Management LLC

Allen Wealth Management LLC bought a new position in MetLife, Inc. (NYSE:MET) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 5,967 shares of the financial services provider’s stock, valued at approximately $395,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Regal Investment Advisors LLC bought a new position in shares of MetLife during the 4th quarter worth about $464,000. Elo Mutual Pension Insurance Co increased its holdings in shares of MetLife by 2.4% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 55,807 shares of the financial services provider’s stock worth $3,691,000 after purchasing an additional 1,325 shares during the period. Evercore Wealth Management LLC bought a new position in shares of MetLife during the 4th quarter worth about $243,000. Connectus Wealth LLC increased its holdings in shares of MetLife by 36.9% during the 4th quarter. Connectus Wealth LLC now owns 82,134 shares of the financial services provider’s stock worth $5,442,000 after purchasing an additional 22,158 shares during the period. Finally, Sompo Asset Management Co. Ltd. increased its holdings in shares of MetLife by 2.5% during the 4th quarter. Sompo Asset Management Co. Ltd. now owns 15,350 shares of the financial services provider’s stock worth $1,015,000 after purchasing an additional 380 shares during the period. Institutional investors own 89.81% of the company’s stock.

MetLife Price Performance

NYSE:MET traded up $0.01 on Friday, reaching $70.05. The stock had a trading volume of 2,387,056 shares, compared to its average volume of 2,589,718. The company has a market capitalization of $49.81 billion, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 0.59 and a beta of 1.12. MetLife, Inc. has a 1-year low of $52.97 and a 1-year high of $74.68. 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 fifty day moving average price of $71.76 and a 200-day moving average price of $69.50.

MetLife (NYSE:MET) last announced its 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 for the quarter, compared to analyst estimates of $17.73 billion. During the same period in the prior year, the business earned $1.52 earnings per share. MetLife’s quarterly revenue was up 5.5% on a year-over-year basis. Research analysts forecast that MetLife, Inc. will post 8.62 EPS for the current year.

MetLife Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 7th will be given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.11%. This is a positive change from MetLife’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, May 6th. MetLife’s dividend payout ratio is presently 74.91%.

MetLife announced that its board has authorized a share buyback program on Wednesday, May 1st that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have recently weighed in on MET. Keefe, Bruyette & Woods decreased their target price on shares of MetLife from $87.00 to $86.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 7th. Piper Sandler decreased their target price on shares of MetLife from $85.00 to $82.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. Argus lifted their target price on shares of MetLife from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Morgan Stanley lifted their target price on shares of MetLife from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, StockNews.com lowered shares of MetLife from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, MetLife has a consensus rating of “Moderate Buy” and a consensus price target of $79.08.

Insider Transactions at MetLife

In other news, insider Ramy Tadros sold 4,026 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $71.90, for a total transaction of $289,469.40. Following the transaction, the insider now directly owns 146,981 shares in the company, valued at $10,567,933.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Bill Pappas sold 27,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $72.27, for a total transaction of $1,951,290.00. Following the completion of the sale, the executive vice president now directly owns 57,768 shares of the company’s stock, valued at $4,174,893.36. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ramy Tadros sold 4,026 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total transaction of $289,469.40. Following the sale, the insider now directly owns 146,981 shares of the company’s stock, valued at $10,567,933.90. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

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.