Carnegie Capital Asset Management LLC reduced its stake in Metlife Inc (NYSE:MET) by 24.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,419 shares of the financial services provider’s stock after selling 2,732 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Metlife were worth $257,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Capital Analysts LLC raised its holdings in Metlife by 6.2% in the 1st quarter. Capital Analysts LLC now owns 37,859 shares of the financial services provider’s stock worth $1,157,000 after purchasing an additional 2,219 shares during the period. Citizens Financial Group Inc RI raised its holdings in Metlife by 10.9% in the 1st quarter. Citizens Financial Group Inc RI now owns 4,688 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 461 shares during the period. Swiss National Bank raised its holdings in Metlife by 20.9% in the 1st quarter. Swiss National Bank now owns 3,033,876 shares of the financial services provider’s stock worth $92,746,000 after purchasing an additional 524,100 shares during the period. Point View Wealth Management Inc. raised its holdings in Metlife by 6.6% in the 1st quarter. Point View Wealth Management Inc. now owns 41,313 shares of the financial services provider’s stock worth $1,263,000 after purchasing an additional 2,555 shares during the period. Finally, BRYN MAWR TRUST Co bought a new position in Metlife in the 1st quarter worth $485,000. 74.04% of the stock is currently owned by institutional investors.
A number of brokerages recently commented on MET. Royal Bank of Canada raised their target price on Metlife from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Credit Suisse Group decreased their target price on Metlife from $60.00 to $46.00 and set an “outperform” rating on the stock in a report on Monday, April 27th. Citigroup raised Metlife from a “sell” rating to a “neutral” rating and decreased their price target for the company from $46.00 to $32.00 in a report on Monday, March 16th. ValuEngine cut Metlife from a “sell” rating to a “strong sell” rating in a report on Thursday, April 23rd. Finally, Piper Sandler decreased their price target on Metlife from $38.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, April 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $42.25.
NYSE:MET opened at $33.34 on Friday. The stock has a market cap of $30.40 billion, a PE ratio of 3.55 and a beta of 1.33. The business’s 50-day simple moving average is $32.93 and its two-hundred day simple moving average is $43.33. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.21. Metlife Inc has a 52 week low of $22.85 and a 52 week high of $53.28.
Metlife (NYSE:MET) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.14. The firm had revenue of $15.54 billion during the quarter, compared to analyst estimates of $16.38 billion. Metlife had a return on equity of 8.85% and a net margin of 12.37%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $1.48 earnings per share. Sell-side analysts anticipate that Metlife Inc will post 5.39 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 8th will be given a dividend of $0.46 per share. This is a positive change from Metlife’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, May 7th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 5.52%. Metlife’s dividend payout ratio (DPR) is presently 30.11%.
Metlife Company Profile
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; 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, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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