Belpointe Asset Management LLC Has $477,000 Stake in MetLife, Inc. (NYSE:MET)

Belpointe Asset Management LLC boosted its position in MetLife, Inc. (NYSE:METFree Report) by 11.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 7,217 shares of the financial services provider’s stock after purchasing an additional 738 shares during the quarter. Belpointe Asset Management LLC’s holdings in MetLife were worth $477,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Avantax Advisory Services Inc. grew its holdings in MetLife by 14.2% during the 3rd quarter. Avantax Advisory Services Inc. now owns 11,580 shares of the financial services provider’s stock worth $729,000 after acquiring an additional 1,436 shares during the last quarter. Banque Cantonale Vaudoise grew its stake in shares of MetLife by 15.9% in the third quarter. Banque Cantonale Vaudoise now owns 9,023 shares of the financial services provider’s stock worth $568,000 after purchasing an additional 1,237 shares during the last quarter. NewEdge Wealth LLC acquired a new stake in MetLife in the third quarter valued at $214,000. Spire Wealth Management raised its position in MetLife by 3.0% during the 3rd quarter. Spire Wealth Management now owns 6,967 shares of the financial services provider’s stock worth $430,000 after purchasing an additional 201 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in MetLife by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,774,122 shares of the financial services provider’s stock worth $237,430,000 after buying an additional 22,031 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MET shares. Argus raised their price objective on MetLife from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Morgan Stanley upped their price objective on shares of MetLife from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Piper Sandler lowered their target price on shares of MetLife from $85.00 to $82.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. Keefe, Bruyette & Woods cut their price target on shares of MetLife from $87.00 to $86.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 7th. Finally, StockNews.com lowered MetLife from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $79.08.

Get Our Latest Report on MetLife

MetLife Stock Down 0.4 %

Shares of NYSE:MET opened at $70.04 on Friday. The firm has a market cap of $49.81 billion, a P/E ratio of 24.07, a PEG ratio of 0.59 and a beta of 1.12. MetLife, Inc. has a 52-week low of $52.97 and a 52-week high of $74.68. The business’s 50 day simple moving average is $71.84 and its two-hundred day simple moving average is $69.35. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16.

MetLife (NYSE:METGet Free Report) last issued its earnings results on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.83. The company had revenue of $17.02 billion for the quarter, compared to analysts’ expectations of $17.73 billion. MetLife had a return on equity of 20.39% and a net margin of 3.50%. MetLife’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the business earned $1.52 EPS. As a group, research analysts forecast that MetLife, Inc. will post 8.62 EPS for the current fiscal year.

MetLife Increases Dividend

The firm also recently disclosed 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. This is a boost from MetLife’s previous quarterly dividend of $0.52. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Monday, May 6th. MetLife’s dividend payout ratio (DPR) is currently 74.91%.

MetLife declared that its Board of Directors has authorized a share repurchase program on Wednesday, May 1st that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at MetLife

In related 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 value of $1,951,290.00. Following the transaction, 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 available through this hyperlink. In related news, EVP Bill Pappas sold 27,000 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 57,768 shares of the company’s stock, valued at approximately $4,174,893.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ramy Tadros sold 4,026 shares of MetLife stock in a transaction 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 transaction, the insider now directly owns 146,981 shares in the company, valued at $10,567,933.90. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

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.

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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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