State of New Jersey Common Pension Fund D Sells 2,236 Shares of MetLife, Inc. (NYSE:MET)

State of New Jersey Common Pension Fund D trimmed its stake in MetLife, Inc. (NYSE:MET) by 0.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 363,149 shares of the financial services provider’s stock after selling 2,236 shares during the period. State of New Jersey Common Pension Fund D’s holdings in MetLife were worth $24,015,000 as of its most recent SEC filing.

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

MetLife Price Performance

NYSE MET traded down $0.82 during trading on Thursday, hitting $71.90. 2,866,782 shares of the stock traded hands, compared to its average volume of 3,506,602. The company has a market capitalization of $51.99 billion, a P/E ratio of 39.74, a price-to-earnings-growth ratio of 0.54 and a beta of 1.04. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.53. The firm has a 50-day simple moving average of $71.36 and a 200-day simple moving average of $67.06. MetLife, Inc. has a 12-month low of $48.95 and a 12-month high of $74.68.

MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $1.93 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.02). The company had revenue of $18.72 billion during the quarter, compared to the consensus estimate of $18.07 billion. MetLife had a return on equity of 19.48% and a net margin of 2.36%. As a group, analysts predict that MetLife, Inc. will post 8.71 EPS for the current 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 given a $0.545 dividend. This is an increase from MetLife’s previous quarterly dividend of $0.52. This represents a $2.18 annualized dividend and a yield of 3.03%. The ex-dividend date is Monday, May 6th. MetLife’s payout ratio is currently 113.66%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Morgan Stanley boosted their target price 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. Piper Sandler increased their price target on MetLife from $74.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Wells Fargo & Company upped their target price on shares of MetLife from $83.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. UBS Group lowered their price objective on shares of MetLife from $87.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, February 5th. Finally, The Goldman Sachs Group upgraded shares of MetLife from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $70.00 to $80.00 in a report on Monday, January 8th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $79.23.

Insider Buying and Selling at MetLife

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

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.