Kentucky Retirement Systems Insurance Trust Fund Sells 1,893 Shares of MetLife, Inc. (NYSE:MET)

Kentucky Retirement Systems Insurance Trust Fund lessened its position in MetLife, Inc. (NYSE:MET) by 8.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 large investors have also recently made changes to their positions in the company. Criterion Capital Advisors LLC bought a new position in shares of MetLife during the fourth quarter valued at approximately $26,000. Planned Solutions Inc. acquired a new stake in MetLife in the fourth quarter worth about $28,000. GoalVest Advisory LLC raised 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 purchasing an additional 165 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in MetLife during the 4th quarter worth approximately $34,000. Finally, Pineridge Advisors LLC purchased a new stake in shares of MetLife during the fourth quarter valued at $39,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

MetLife Price Performance

MetLife stock traded up $0.68 during mid-day 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 stock’s 50-day simple moving average is $71.68 and its 200-day simple moving average is $71.01. MetLife, Inc. has a 1 year low of $57.91 and a 1 year high of $76.90. 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 company has a market capitalization of $54.05 billion, a P/E ratio of 26.12, a P/E/G ratio of 0.66 and a beta of 1.11.

MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share for the quarter, meeting the consensus estimate of $1.83. The firm had revenue of $17.02 billion during the quarter, compared to the consensus estimate of $17.73 billion. MetLife had a return on equity of 20.39% and a net margin of 3.50%. MetLife’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the business posted $1.52 EPS. On average, equities analysts predict that MetLife, Inc. will post 8.59 EPS for the current year.

MetLife declared that its Board of Directors 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 often an indication that the company’s board of directors believes its stock is undervalued.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 6th will be issued 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 (DPR) is presently 74.91%.

Analyst Ratings Changes

Several research firms have recently commented on MET. Wells Fargo & Company dropped their price objective on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. Citigroup increased their price target on MetLife from $83.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Argus boosted their price objective on MetLife from $77.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. StockNews.com downgraded MetLife from a “buy” rating to a “hold” rating in a research note on Monday, July 1st. Finally, Morgan Stanley lifted their price target on MetLife from $82.00 to $83.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $81.08.

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.