Amalgamated Bank Reduces Stock Position in MetLife, Inc. (NYSE:MET)

Amalgamated Bank lowered its stake in shares of MetLife, Inc. (NYSE:MET) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 155,707 shares of the financial services provider’s stock after selling 7,521 shares during the quarter. Amalgamated Bank’s holdings in MetLife were worth $10,297,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in MET. Criterion Capital Advisors LLC acquired a new position in MetLife during the 4th quarter worth $26,000. Quintet Private Bank Europe S.A. bought a new position in MetLife during the 3rd quarter worth approximately $28,000. Planned Solutions Inc. bought a new stake in shares of MetLife in the 4th quarter valued at approximately $28,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of MetLife during the 4th quarter valued at approximately $34,000. Finally, Headlands Technologies LLC bought a new position in MetLife during the third quarter worth $36,000. Institutional investors own 89.81% of the company’s stock.

Insider Activity

In related news, insider Ramy Tadros sold 4,026 shares of the 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 completion of the sale, the insider now directly owns 146,981 shares of the company’s stock, valued at $10,567,933.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, 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 transaction of $289,469.40. Following the completion of the sale, the insider now directly owns 146,981 shares of the company’s stock, valued at $10,567,933.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Bill Pappas sold 27,000 shares of MetLife stock in a transaction dated 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 approximately $4,174,893.36. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

MetLife Price Performance

Shares of NYSE:MET traded up $0.28 during trading on Friday, reaching $70.52. The company had a trading volume of 3,361,215 shares, compared to its average volume of 3,164,878. MetLife, Inc. has a twelve month low of $48.95 and a twelve month high of $74.68. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market capitalization of $50.29 billion, a PE ratio of 24.23, a price-to-earnings-growth ratio of 0.53 and a beta of 1.03. The firm’s fifty day moving average is $71.64 and its 200 day moving average is $67.40.

MetLife (NYSE:MET) 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 analysts’ consensus estimates of $1.83. MetLife had a return on equity of 20.39% and a net margin of 3.50%. The firm had revenue of $17.02 billion during the quarter, compared to analyst estimates of $17.73 billion. During the same period last year, the company posted $1.52 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities analysts forecast that MetLife, Inc. will post 8.71 EPS for the current year.

MetLife declared that its board has approved a share repurchase program on Wednesday, May 1st that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

MetLife Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 7th will be given a $0.545 dividend. The ex-dividend date is Monday, May 6th. This is a boost from MetLife’s previous quarterly dividend of $0.52. This represents a $2.18 annualized dividend and a yield of 3.09%. MetLife’s payout ratio is 71.48%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MET shares. Piper Sandler boosted their target price on shares of MetLife from $74.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. StockNews.com upgraded shares of MetLife from a “hold” rating to a “buy” rating in a research note on Friday. Morgan Stanley raised their target price on shares of MetLife from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods raised their price target on MetLife from $82.00 to $87.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, Wells Fargo & Company upped 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. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, MetLife currently has an average rating of “Moderate Buy” and an average price target of $79.23.

MetLife Profile

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.