Napa Wealth Management Purchases New Stake in MetLife, Inc. (NYSE:MET)

Napa Wealth Management bought a new position in MetLife, Inc. (NYSE:MET - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 41,071 shares of the financial services provider's stock, valued at approximately $2,716,000. MetLife accounts for about 1.5% of Napa Wealth Management's holdings, making the stock its 14th biggest position.

Other hedge funds also recently made changes to their positions in the company. Criterion Capital Advisors LLC purchased a new position in shares of MetLife in the fourth quarter worth $26,000. Planned Solutions Inc. purchased a new position in MetLife during the 4th quarter valued at $28,000. Quintet Private Bank Europe S.A. purchased a new position in MetLife during the 3rd quarter valued at $28,000. Tennessee Valley Asset Management Partners purchased a new position in MetLife during the 4th quarter valued at $34,000. Finally, Headlands Technologies LLC purchased a new position in MetLife during the 3rd quarter valued at $36,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MET has been the topic of a number of research reports. StockNews.com cut shares of MetLife from a "buy" rating to a "hold" rating in a report on Saturday, May 11th. Morgan Stanley upped their price target on shares of MetLife from $80.00 to $82.00 and gave the stock an "overweight" rating in a research note on Monday, April 15th. Argus boosted their target price on MetLife from $77.00 to $80.00 and gave the stock a "buy" rating in a research report on Wednesday, May 22nd. Piper Sandler decreased their target price on MetLife from $85.00 to $82.00 and set an "overweight" rating for the company in a research report on Monday, May 6th. Finally, Wells Fargo & Company decreased their target price on MetLife from $86.00 to $85.00 and set an "overweight" rating for the company in a research report on Friday, May 10th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $79.08.

Insider Buying and Selling

In related news, EVP Bill Pappas sold 27,000 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $72.27, for a total value of $1,951,290.00. Following the completion of the sale, the executive vice president now directly owns 57,768 shares of the company's stock, valued at approximately $4,174,893.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is currently owned by insiders.

MetLife Stock Performance

Shares of NYSE MET traded down $0.11 during midday trading on Friday, hitting $68.55. 2,302,378 shares of the company's stock traded hands, compared to its average volume of 2,720,064. MetLife, Inc. has a 1 year low of $52.97 and a 1 year high of $74.68. The stock has a market capitalization of $48.75 billion, a price-to-earnings ratio of 23.56, a price-to-earnings-growth ratio of 0.57 and a beta of 1.12. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a fifty day moving average of $71.33 and a 200 day moving average of $69.71.

MetLife (NYSE:MET - Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $1.83 EPS for the quarter, meeting the consensus estimate of $1.83. MetLife had a net margin of 3.50% and a return on equity of 20.39%. The firm had revenue of $17.02 billion during the quarter, compared to analyst estimates of $17.73 billion. During the same quarter in the prior year, the firm earned $1.52 EPS. The business's revenue for the quarter was up 5.5% compared to the same quarter last year. On average, analysts forecast that MetLife, Inc. will post 8.62 earnings per share for the current year.

MetLife Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, May 7th were issued a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 3.18%. This is a positive change from MetLife's previous quarterly dividend of $0.52. The ex-dividend date was Monday, May 6th. MetLife's dividend payout ratio is currently 74.91%.

MetLife announced that its board has initiated 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 purchase up to 6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's management believes its stock is 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.