Apollon Wealth Management LLC Has $1.13 Million Position in MetLife, Inc. (NYSE:MET)

Apollon Wealth Management LLC boosted its stake in MetLife, Inc. (NYSE:MET) by 85.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 17,014 shares of the financial services provider’s stock after buying an additional 7,851 shares during the period. Apollon Wealth Management LLC’s holdings in MetLife were worth $1,125,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. International Assets Investment Management LLC increased its position in MetLife by 678.4% during the 4th quarter. International Assets Investment Management LLC now owns 287,311 shares of the financial services provider’s stock worth $19,000,000 after buying an additional 250,402 shares during the period. AustralianSuper Pty Ltd increased its stake in MetLife by 19.2% during the 4th quarter. AustralianSuper Pty Ltd now owns 1,824,596 shares of the financial services provider’s stock worth $120,661,000 after acquiring an additional 293,925 shares during the period. Nordea Investment Management AB raised its holdings in MetLife by 9.9% in the 4th quarter. Nordea Investment Management AB now owns 2,664,012 shares of the financial services provider’s stock valued at $176,304,000 after acquiring an additional 240,564 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in shares of MetLife by 13.1% during the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 742,302 shares of the financial services provider’s stock valued at $49,088,000 after acquiring an additional 86,091 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in shares of MetLife by 50.0% during the 3rd quarter. Acadian Asset Management LLC now owns 8,856 shares of the financial services provider’s stock worth $557,000 after purchasing an additional 2,952 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

MetLife Trading Up 0.6 %

MET opened at $71.66 on Thursday. The company’s 50 day moving average price is $71.76 and its two-hundred day moving average price is $67.65. The firm has a market capitalization of $50.96 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 0.56 and a beta of 1.03. MetLife, Inc. has a fifty-two week low of $48.95 and a fifty-two week high of $74.68. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16.

MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.83. The business 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 in the prior year, the business posted $1.52 earnings per share. As a group, research analysts predict that MetLife, Inc. will post 8.69 earnings per share for the current year.

MetLife announced that its Board of Directors has approved a share buyback plan 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 stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

MetLife Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 7th will be paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.04%. This is an increase from MetLife’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, May 6th. MetLife’s payout ratio is currently 71.48%.

Insider Activity at MetLife

In other news, insider Ramy Tadros sold 4,026 shares of MetLife stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $71.90, for a total value of $289,469.40. Following the completion of the sale, the insider now owns 146,981 shares in the company, valued at approximately $10,567,933.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Ramy Tadros sold 4,026 shares of the firm’s 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 completion of the sale, the insider now directly owns 146,981 shares in the company, valued at approximately $10,567,933.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Bill Pappas sold 27,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 57,768 shares in the company, valued at $4,174,893.36. The disclosure for this sale can be found here. 0.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MET has been the subject of several recent analyst reports. StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. UBS Group reduced their price target on shares of MetLife from $87.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. Wells Fargo & Company lifted their price target on MetLife from $83.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods dropped their price objective on MetLife from $87.00 to $86.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Piper Sandler decreased their target price on MetLife from $85.00 to $82.00 and set an “overweight” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.92.

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.