RBA Wealth Management LLC Buys 1,307 Shares of MetLife, Inc. (NYSE:MET)

RBA Wealth Management LLC boosted its stake in shares of MetLife, Inc. (NYSE:MET) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,349 shares of the financial services provider’s stock after purchasing an additional 1,307 shares during the quarter. MetLife comprises approximately 2.3% of RBA Wealth Management LLC’s investment portfolio, making the stock its 15th biggest position. RBA Wealth Management LLC’s holdings in MetLife were worth $5,658,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Criterion Capital Advisors LLC acquired a new position in MetLife during the fourth quarter worth about $26,000. Planned Solutions Inc. bought a new stake in MetLife in the fourth quarter valued at approximately $28,000. GoalVest Advisory LLC boosted its holdings in shares of MetLife by 73.3% during the 1st quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider’s stock worth $29,000 after buying an additional 165 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new position in shares of MetLife during the fourth quarter worth approximately $34,000. Finally, Pineridge Advisors LLC acquired a new position in shares of MetLife during the fourth quarter worth approximately $39,000. 89.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MET shares. Wells Fargo & Company reduced their price objective on MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. Jefferies Financial Group decreased their price objective on MetLife from $88.00 to $83.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Morgan Stanley upped their target price on MetLife from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Monday, April 15th. JPMorgan Chase & Co. increased their target price on MetLife from $81.00 to $86.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods lowered their price target on MetLife from $87.00 to $86.00 and set an “outperform” rating on the stock in a report on Tuesday, May 7th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $80.23.

MetLife Stock Performance

Shares of NYSE MET traded up $0.12 during midday trading on Thursday, reaching $70.16. 2,244,243 shares of the company were exchanged, compared to its average volume of 3,086,974. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. MetLife, Inc. has a 1 year low of $56.13 and a 1 year high of $74.68. The stock has a fifty day simple moving average of $71.17 and a 200 day simple moving average of $70.20. The stock has a market cap of $49.89 billion, a P/E ratio of 24.11, a PEG ratio of 0.59 and a beta of 1.11.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.83. MetLife had a return on equity of 20.39% and a net margin of 3.50%. The company had revenue of $17.02 billion for the quarter, compared to analyst estimates of $17.73 billion. During the same quarter in the previous year, the company earned $1.52 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, research analysts forecast that MetLife, Inc. will post 8.61 earnings per share for the current fiscal year.

MetLife Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 7th were paid a $0.545 dividend. This is a boost from MetLife’s previous quarterly dividend of $0.52. This represents a $2.18 annualized dividend and a yield of 3.11%. The ex-dividend date was Monday, May 6th. MetLife’s payout ratio is presently 74.91%.

MetLife announced that its board has approved a stock buyback program 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 programs are often a sign that the company’s board believes its shares are undervalued.

MetLife Company 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.