MetLife, Inc. (NYSE:MET) Stock Holdings Lessened by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund cut its stake in shares of MetLife, Inc. (NYSE:MET) by 8.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,258 shares of the financial services provider’s stock after selling 1,893 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in MetLife were worth $1,501,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Criterion Capital Advisors LLC purchased a new stake in MetLife during the fourth quarter valued at about $26,000. Planned Solutions Inc. purchased a new stake in shares of MetLife in the 4th quarter valued at approximately $28,000. GoalVest Advisory LLC lifted its position in shares of MetLife by 73.3% in the 1st quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 165 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new position in MetLife during the 4th quarter worth approximately $34,000. Finally, Pineridge Advisors LLC purchased a new position in MetLife during the 4th quarter worth approximately $39,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on MetLife from $81.00 to $86.00 and gave the company an “overweight” rating in a report on Tuesday, July 2nd. StockNews.com lowered shares of MetLife from a “buy” rating to a “hold” rating in a research note on Monday, July 1st. Argus upped their price target on shares of MetLife from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Keefe, Bruyette & Woods reduced their price objective on MetLife from $86.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Finally, Morgan Stanley boosted their target price on MetLife from $82.00 to $83.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Two equities research 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.08.

MetLife Stock Performance

Shares of MET stock traded up $0.68 during trading on Friday, reaching $76.00. The company had a trading volume of 2,397,119 shares, compared to its average volume of 2,968,688. The company has a market capitalization of $54.05 billion, a PE ratio of 26.12, a PEG ratio of 0.66 and a beta of 1.11. 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 firm’s 50 day simple moving average is $71.68 and its two-hundred day simple moving average is $71.01. MetLife, Inc. has a one year low of $57.91 and a one year high of $76.90.

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

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 6th will be given a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Tuesday, August 6th. MetLife’s dividend payout ratio is currently 74.91%.

MetLife declared that its board has authorized a stock repurchase 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 reacquire up to 6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board 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.