MetLife, Inc. (NYSE:MET) EVP Sells $202,732.72 in Stock

Posted by MarketBeat News on Mar 7th, 2023

MetLife, Inc. (NYSE:MET – Get Rating) EVP Bill Pappas sold 2,857 shares of the stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $70.96, for a total transaction of $202,732.72. Following the completion of the sale, the executive vice president now owns 48,915 shares of the company’s stock, valued at approximately $3,471,008.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Bill Pappas also recently made the following trade(s):

On Monday, February 27th, Bill Pappas sold 11,345 shares of MetLife stock. The shares were sold at an average price of $71.96, for a total transaction of $816,386.20.
On Wednesday, December 7th, Bill Pappas sold 5,000 shares of MetLife stock. The stock was sold at an average price of $75.55, for a total transaction of $377,750.00.

MetLife Trading Down 0.9 %

Shares of NYSE:MET opened at $69.69 on Tuesday. The company’s 50-day moving average price is $71.53 and its two-hundred day moving average price is $70.15. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.13 and a quick ratio of 0.13. MetLife, Inc. has a one year low of $57.41 and a one year high of $77.36. The stock has a market capitalization of $53.97 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 0.66 and a beta of 1.08.

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MetLife (NYSE:MET – Get Rating) last issued its quarterly earnings results on Wednesday, February 1st. The financial services provider reported $1.55 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.19). MetLife had a return on equity of 15.64% and a net margin of 3.63%. The business had revenue of $15.84 billion for the quarter, compared to the consensus estimate of $17.21 billion. During the same period last year, the firm earned $2.17 earnings per share. The company’s quarterly revenue was down 21.6% compared to the same quarter last year. On average, equities analysts forecast that MetLife, Inc. will post 8.28 EPS for the current fiscal year.

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 14th. Shareholders of record on Tuesday, February 7th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, February 6th. This represents a $2.00 annualized dividend and a yield of 2.87%. MetLife’s dividend payout ratio (DPR) is presently 68.26%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of MetLife from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, January 6th. The Goldman Sachs Group cut shares of MetLife from a “buy” rating to a “neutral” rating and cut their price target for the stock from $80.00 to $78.00 in a research note on Monday, January 9th. Jefferies Financial Group cut shares of MetLife from a “buy” rating to a “hold” rating and cut their target price for the company from $86.00 to $82.00 in a research note on Friday, December 9th. Morgan Stanley lifted their target price on shares of MetLife from $88.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 2nd. Finally, Wells Fargo & Company lifted their target price on shares of MetLife from $81.00 to $83.00 and gave the company an “overweight” rating in a research note on Wednesday, January 18th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, MetLife currently has a consensus rating of “Moderate Buy” and an average price target of $80.36.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Center for Financial Planning Inc. acquired a new position in shares of MetLife during the 3rd quarter worth about $25,000. FWL Investment Management LLC acquired a new position in shares of MetLife during the 4th quarter worth about $26,000. Jones Financial Companies Lllp increased its stake in shares of MetLife by 1,065.8% during the 2nd quarter. Jones Financial Companies Lllp now owns 443 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 405 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in shares of MetLife during the 2nd quarter worth about $28,000. Finally, Richard W. Paul & Associates LLC acquired a new position in shares of MetLife during the 4th quarter worth about $29,000. 88.15% of the stock is currently owned by institutional investors and hedge funds.

About MetLife

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MetLife, Inc provides insurance and financial services to individual and institutional customers. It offers life insurance, annuities, automobile and homeowner’s insurance and retail banking services to individuals as well as group insurance, reinsurance and retirement and savings products and services.