MetLife, Inc. (NYSE:MET) Stock Position Lowered by Cornerstone Advisors LLC

Cornerstone Advisors LLC trimmed its position in shares of MetLife, Inc. (NYSE:METFree Report) by 6.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,700 shares of the financial services provider’s stock after selling 2,800 shares during the period. Cornerstone Advisors LLC’s holdings in MetLife were worth $2,758,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in MET. International Assets Investment Management LLC raised its position in MetLife by 678.4% during the fourth quarter. International Assets Investment Management LLC now owns 287,311 shares of the financial services provider’s stock valued at $19,000,000 after buying an additional 250,402 shares during the period. AustralianSuper Pty Ltd boosted its holdings in shares of MetLife by 19.2% during the fourth quarter. AustralianSuper Pty Ltd now owns 1,824,596 shares of the financial services provider’s stock worth $120,661,000 after purchasing an additional 293,925 shares during the period. Nordea Investment Management AB grew its position in MetLife by 9.9% during the fourth quarter. Nordea Investment Management AB now owns 2,664,012 shares of the financial services provider’s stock valued at $176,304,000 after purchasing an additional 240,564 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in MetLife by 13.1% in the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 742,302 shares of the financial services provider’s stock valued at $49,088,000 after buying an additional 86,091 shares during the period. Finally, Acadian Asset Management LLC lifted its position in MetLife by 50.0% in the 3rd quarter. Acadian Asset Management LLC now owns 8,856 shares of the financial services provider’s stock worth $557,000 after buying an additional 2,952 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MET. UBS Group dropped their price target on shares of MetLife from $87.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, February 5th. Wells Fargo & Company cut their price target on MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. Keefe, Bruyette & Woods reduced their price target on MetLife from $87.00 to $86.00 and set an “outperform” rating for the company in a report on Tuesday, May 7th. Piper Sandler dropped their price objective on MetLife from $85.00 to $82.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Finally, StockNews.com cut shares of MetLife from a “buy” rating to a “hold” rating in a research note on Saturday, May 11th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $78.85.

Get Our Latest Research Report on MetLife

Insider Activity

In related 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 transaction 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 approximately $4,174,893.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Bill Pappas sold 27,000 shares of the business’s stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ramy Tadros sold 4,026 shares of the firm’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 approximately $10,567,933.90. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

MetLife Stock Performance

NYSE:MET opened at $72.89 on Tuesday. The firm has a market capitalization of $51.83 billion, a PE ratio of 25.05, a PEG ratio of 0.62 and a beta of 1.03. MetLife, Inc. has a 1 year low of $49.38 and a 1 year high of $74.68. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The firm’s fifty day simple moving average is $72.20 and its 200 day simple moving average is $68.51.

MetLife (NYSE:METGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.83. MetLife had a return on equity of 20.39% and a net margin of 3.50%. The company had revenue of $17.02 billion for the quarter, compared to the consensus estimate of $17.73 billion. During the same period last year, the business posted $1.52 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that MetLife, Inc. will post 8.71 EPS for the current year.

MetLife Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 7th will be issued a dividend of $0.545 per share. The ex-dividend date of this dividend is Monday, May 6th. This is a positive change from MetLife’s previous quarterly dividend of $0.52. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.99%. MetLife’s payout ratio is 74.91%.

MetLife declared that its Board of Directors has initiated a share buyback program on Wednesday, May 1st that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

MetLife Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for MetLife (NYSE:MET)

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