University of Texas Texas AM Investment Management Co. Buys New Stake in MetLife, Inc. (NYSE:MET)

University of Texas Texas AM Investment Management Co. purchased a new position in shares of MetLife, Inc. (NYSE:MET) in the 4th quarter, Holdings Channel reports. The firm purchased 50,668 shares of the financial services provider’s stock, valued at approximately $4,149,000.

Other institutional investors also recently made changes to their positions in the company. Transce3nd LLC purchased a new stake in MetLife during the 4th quarter worth about $26,000. Quarry LP acquired a new stake in MetLife during the fourth quarter worth approximately $31,000. Sierra Ocean LLC acquired a new position in MetLife in the 4th quarter valued at $32,000. Graney & King LLC acquired a new stake in shares of MetLife during the fourth quarter worth $34,000. Finally, Values First Advisors Inc. purchased a new stake in shares of MetLife in the fourth quarter valued at $36,000. 94.99% of the stock is owned by institutional investors and hedge funds.

MetLife Stock Down 0.4%

Shares of MetLife stock opened at $77.60 on Friday. The company has a fifty day moving average price of $76.98 and a 200 day moving average price of $81.13. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.54. MetLife, Inc. has a twelve month low of $65.21 and a twelve month high of $89.05. The stock has a market cap of $52.09 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 0.65 and a beta of 0.85.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.04). The company had revenue of $18.57 billion during the quarter, compared to analyst estimates of $18.06 billion. MetLife had a net margin of 6.19% and a return on equity of 20.42%. MetLife’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.83 EPS. Equities research analysts forecast that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.

MetLife Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 6th will be given a dividend of $0.5675 per share. This is a boost from MetLife’s previous quarterly dividend of $0.55. The ex-dividend date is Tuesday, May 6th. This represents a $2.27 annualized dividend and a dividend yield of 2.93%. MetLife’s dividend payout ratio (DPR) is presently 36.91%.

MetLife declared that its Board of Directors has approved a stock repurchase program on Wednesday, April 30th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 5.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have commented on MET shares. Piper Sandler lifted their price target on MetLife from $92.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods lowered their target price on shares of MetLife from $98.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. BMO Capital Markets started coverage on shares of MetLife in a report on Thursday, January 23rd. They issued a “market perform” rating and a $97.00 price target on the stock. Morgan Stanley boosted their price objective on shares of MetLife from $94.00 to $99.00 and gave the company an “overweight” rating in a research note on Monday. Finally, UBS Group increased their target price on MetLife from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, April 2nd. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, MetLife has a consensus rating of “Moderate Buy” and a consensus target price of $94.17.

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.