Allspring Global Investments Holdings LLC Sells 58,865 Shares of MetLife, Inc. (NYSE:MET)

Allspring Global Investments Holdings LLC decreased its position in MetLife, Inc. (NYSE:MET) by 21.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 212,059 shares of the financial services provider’s stock after selling 58,865 shares during the period. Allspring Global Investments Holdings LLC’s holdings in MetLife were worth $14,023,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FWL Investment Management LLC bought a new position in shares of MetLife during the fourth quarter valued at about $26,000. DHJJ Financial Advisors Ltd. bought a new position in MetLife during the 3rd quarter valued at approximately $25,000. Studio Investment Management LLC purchased a new stake in MetLife in the 4th quarter worth approximately $29,000. Planned Solutions Inc. bought a new stake in shares of MetLife in the 4th quarter worth approximately $28,000. Finally, Eagle Bay Advisors LLC purchased a new position in shares of MetLife during the second quarter valued at approximately $28,000. 89.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at MetLife

In other news, insider Ramy Tadros sold 4,026 shares of the business’s stock in a transaction 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 transaction, the insider now owns 146,981 shares in the company, valued at $10,567,933.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Bill Pappas sold 27,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $72.27, for a total transaction of $1,951,290.00. Following the sale, the executive vice president now owns 57,768 shares of the company’s stock, valued at approximately $4,174,893.36. The sale was disclosed in a legal filing with the SEC, which is accessible through 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 shares were sold at an average price of $71.90, for a total transaction of $289,469.40. Following the transaction, the insider now directly owns 146,981 shares of the company’s stock, valued at $10,567,933.90. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

MetLife Stock Performance

Shares of MetLife stock opened at $69.44 on Tuesday. MetLife, Inc. has a 1 year low of $48.95 and a 1 year high of $74.68. The firm’s 50-day moving average is $70.89 and its 200 day moving average is $66.62. The stock has a market cap of $50.21 billion, a price-to-earnings ratio of 37.95, a PEG ratio of 0.53 and a beta of 1.04. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.16 and a quick ratio of 0.16.

MetLife (NYSE:MET) last issued its earnings results on Wednesday, January 31st. The financial services provider reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.02). The firm 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%. Sell-side analysts anticipate that MetLife, Inc. will post 8.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MET has been the topic of several recent analyst reports. UBS Group cut their price target 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. Morgan Stanley increased 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. Piper Sandler lifted their price objective on MetLife from $74.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Wells Fargo & Company increased their target price on MetLife from $83.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, The Goldman Sachs Group upgraded MetLife from a “neutral” rating to a “buy” rating and lifted their price target for the company from $70.00 to $80.00 in a research report on Monday, January 8th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $79.23.

About MetLife

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.