Candriam S.C.A. Decreases Stake in MetLife, Inc. $MET

Candriam S.C.A. lessened its holdings in shares of MetLife, Inc. (NYSE:MET) by 26.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 270,687 shares of the financial services provider’s stock after selling 95,048 shares during the period. Candriam S.C.A.’s holdings in MetLife were worth $21,770,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in MET. Impax Asset Management Group plc increased its holdings in shares of MetLife by 8.3% in the 2nd quarter. Impax Asset Management Group plc now owns 64,728 shares of the financial services provider’s stock valued at $5,205,000 after purchasing an additional 4,935 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its position in MetLife by 0.3% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 86,691 shares of the financial services provider’s stock worth $6,972,000 after buying an additional 302 shares during the period. Bailard Inc. increased its holdings in MetLife by 3.6% in the second quarter. Bailard Inc. now owns 8,417 shares of the financial services provider’s stock valued at $677,000 after buying an additional 296 shares in the last quarter. Wealth Alliance LLC lifted its position in shares of MetLife by 6.6% during the 2nd quarter. Wealth Alliance LLC now owns 3,079 shares of the financial services provider’s stock valued at $248,000 after acquiring an additional 191 shares during the period. Finally, Forsta AP Fonden boosted its stake in shares of MetLife by 32.3% during the 2nd quarter. Forsta AP Fonden now owns 279,200 shares of the financial services provider’s stock worth $22,453,000 after acquiring an additional 68,100 shares in the last quarter. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Trading Down 1.0%

MetLife stock opened at $79.44 on Friday. The stock has a 50-day moving average price of $79.84 and a 200 day moving average price of $78.90. MetLife, Inc. has a 52 week low of $65.21 and a 52 week high of $89.05. The stock has a market cap of $52.35 billion, a PE ratio of 13.47, a P/E/G ratio of 0.70 and a beta of 0.87. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.57.

MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.07. The company had revenue of $12.46 billion for the quarter, compared to analysts’ expectations of $18.64 billion. MetLife had a net margin of 5.83% and a return on equity of 19.88%. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period last year, the company earned $1.95 EPS. Equities research analysts predict that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 4th will be issued a $0.5675 dividend. The ex-dividend date is Tuesday, November 4th. This represents a $2.27 annualized dividend and a yield of 2.9%. MetLife’s payout ratio is 42.75%.

Analyst Ratings Changes

Several equities analysts recently issued reports on MET shares. Piper Sandler cut MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 price objective for the company. in a report on Friday, September 19th. Wolfe Research upgraded MetLife to a “strong-buy” rating in a research report on Tuesday, September 16th. Jefferies Financial Group boosted their price objective on shares of MetLife from $100.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Keefe, Bruyette & Woods dropped their target price on shares of MetLife from $92.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, Cowen reaffirmed a “buy” rating on shares of MetLife in a report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, MetLife has an average rating of “Moderate Buy” and a consensus target price of $95.00.

MetLife Company 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.