Tower Research Capital LLC TRC Has $5.98 Million Stock Position in MetLife, Inc. (NYSE:MET)

Tower Research Capital LLC TRC increased its position in shares of MetLife, Inc. (NYSE:MET - Free Report) by 104.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 90,446 shares of the financial services provider's stock after buying an additional 46,127 shares during the period. Tower Research Capital LLC TRC's holdings in MetLife were worth $5,981,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Criterion Capital Advisors LLC bought a new stake in shares of MetLife in the fourth quarter valued at about $26,000. Planned Solutions Inc. acquired a new position in MetLife during the fourth quarter worth about $28,000. Quintet Private Bank Europe S.A. acquired a new position in MetLife during the third quarter worth about $28,000. Tennessee Valley Asset Management Partners acquired a new position in MetLife during the fourth quarter worth about $34,000. Finally, Headlands Technologies LLC acquired a new position in shares of MetLife in the third quarter valued at approximately $36,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MET. Argus increased 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. StockNews.com lowered MetLife from a "buy" rating to a "hold" rating in a research report on Saturday, May 11th. Wells Fargo & Company decreased their price objective on MetLife from $86.00 to $85.00 and set an "overweight" rating for the company in a report on Friday, May 10th. Keefe, Bruyette & Woods cut their target price on MetLife from $87.00 to $86.00 and set an "outperform" rating for the company in a research note on Tuesday, May 7th. Finally, Piper Sandler cut their target price on MetLife from $85.00 to $82.00 and set an "overweight" rating for the company in a research note on Monday, May 6th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, MetLife currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.08.

MetLife Stock Down 0.4 %

Shares of MET traded down $0.29 during trading hours on Thursday, hitting $70.04. The company had a trading volume of 1,639,150 shares, compared to its average volume of 3,394,268. The company's fifty day moving average price is $71.84 and its two-hundred day moving average price is $69.35. MetLife, Inc. has a one year low of $52.97 and a one year high of $74.68. The company has a market capitalization of $49.81 billion, a PE ratio of 24.07, a price-to-earnings-growth ratio of 0.59 and a beta of 1.12. 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 (NYSE:MET - Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share for the quarter, meeting the consensus estimate of $1.83. MetLife had a return on equity of 20.39% and a net margin of 3.50%. The business had revenue of $17.02 billion for the quarter, compared to the consensus estimate of $17.73 billion. During the same quarter in the previous year, the business earned $1.52 EPS. The company's quarterly revenue was up 5.5% compared to the same quarter last year. As a group, equities analysts forecast that MetLife, Inc. will post 8.62 earnings per share for the current fiscal year.

MetLife Increases Dividend

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

MetLife announced that its Board of Directors has authorized a share buyback plan on Wednesday, May 1st that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

Insider Activity at MetLife

In related news, insider Ramy Tadros sold 4,026 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total value of $289,469.40. Following the completion of 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 at this hyperlink. In other MetLife news, EVP Bill Pappas sold 27,000 shares of the firm's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $72.27, for a total value of $1,951,290.00. Following the sale, the executive vice president now directly owns 57,768 shares in the company, valued at $4,174,893.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ramy Tadros sold 4,026 shares of MetLife stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total value of $289,469.40. Following the sale, the insider now owns 146,981 shares in the company, valued at approximately $10,567,933.90. The disclosure for this sale can be found here. Insiders own 0.31% of the company's stock.

MetLife 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.