MetLife, Inc. (NYSE:MET) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lessened its stake in MetLife, Inc. (NYSE:MET) by 26.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 67,489 shares of the financial services provider’s stock after selling 24,087 shares during the quarter. Mackenzie Financial Corp’s holdings in MetLife were worth $4,463,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. FWL Investment Management LLC acquired a new position in MetLife in the 4th quarter worth about $26,000. Quintet Private Bank Europe S.A. acquired a new position in MetLife in the 3rd quarter worth about $28,000. Planned Solutions Inc. acquired a new position in MetLife in the 4th quarter worth about $28,000. Eagle Bay Advisors LLC acquired a new position in MetLife in the 2nd quarter worth about $28,000. Finally, Studio Investment Management LLC acquired a new position in MetLife in the 4th quarter worth about $29,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

MetLife Trading Up 1.7 %

Shares of MetLife stock opened at $71.11 on Monday. The firm has a market capitalization of $51.41 billion, a price-to-earnings ratio of 38.86, a PEG ratio of 0.53 and a beta of 1.04. 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 0.53, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a 50 day moving average of $71.12 and a 200 day moving average of $66.86.

MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $1.93 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.02). The business had revenue of $18.72 billion during the quarter, compared to analysts’ expectations of $18.07 billion. MetLife had a return on equity of 19.48% and a net margin of 2.36%. As a group, research analysts predict that MetLife, Inc. will post 8.71 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Bill Pappas sold 27,000 shares of the 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 completion of the transaction, the executive vice president now directly owns 57,768 shares in the company, valued at $4,174,893.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other MetLife news, EVP Bill Pappas sold 27,000 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $72.27, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ramy Tadros sold 4,026 shares of the company’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 transaction, the insider now owns 146,981 shares in the company, valued at $10,567,933.90. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Wells Fargo & Company boosted their price objective on MetLife from $83.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Morgan Stanley boosted their price objective on MetLife from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. The Goldman Sachs Group upgraded MetLife from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $70.00 to $80.00 in a research note on Monday, January 8th. Keefe, Bruyette & Woods boosted their price objective on MetLife from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Finally, Piper Sandler boosted their price objective on MetLife from $74.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.