MetLife, Inc. $MET Shares Sold by Forum Financial Management LP

Forum Financial Management LP lessened its position in shares of MetLife, Inc. (NYSE:MET) by 64.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,253 shares of the financial services provider’s stock after selling 13,342 shares during the quarter. Forum Financial Management LP’s holdings in MetLife were worth $513,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Private Wealth Management Group LLC boosted its holdings in shares of MetLife by 102.0% in the first quarter. Private Wealth Management Group LLC now owns 602 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 304 shares during the period. Patton Fund Management Inc. increased its holdings in shares of MetLife by 9.7% in the 1st quarter. Patton Fund Management Inc. now owns 3,212 shares of the financial services provider’s stock valued at $227,000 after acquiring an additional 283 shares during the period. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of MetLife by 103.0% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 6,870 shares of the financial services provider’s stock valued at $486,000 after acquiring an additional 3,486 shares during the period. Janney Montgomery Scott LLC raised its position in MetLife by 8.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 532,758 shares of the financial services provider’s stock valued at $37,677,000 after purchasing an additional 43,157 shares during the last quarter. Finally, Trilogy Capital Inc. boosted its stake in MetLife by 2.9% during the 1st quarter. Trilogy Capital Inc. now owns 39,557 shares of the financial services provider’s stock worth $2,797,000 after purchasing an additional 1,123 shares during the period. Institutional investors and hedge funds own 94.99% of the company’s stock.

Key Headlines Impacting MetLife

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: CNBC highlighted MetLife as an insurance stock with strong momentum and noted it may still be underpriced relative to its life insurance and benefits fundamentals, which could support investor sentiment. This insurance stock is on an impressive run. How to ride the momentum with less risk
• Positive Sentiment: MetLife issued a preliminary update showing Q2 variable investment income is expected to land between $220 million and $270 million, which gives investors a fresh read on a key earnings driver. MetLife Issues Cautious Update on Variable Investment Income
• Neutral Sentiment: Several articles about World Cup matches at MetLife Stadium, ticket sales, weather, travel, and parking are driving attention to the venue, but they are unlikely to materially affect MetLife’s insurance business or stock valuation.
• Neutral Sentiment: Coverage of France’s complaints about the MetLife Stadium turf adds some controversy around the venue, but this is more of a sports headline than a meaningful corporate issue for MetLife shareholders.

MetLife Trading Down 1.5%

Shares of MET stock opened at $84.68 on Wednesday. The business’s fifty day moving average price is $82.41 and its 200 day moving average price is $78.17. The firm has a market capitalization of $54.48 billion, a PE ratio of 16.41, a P/E/G ratio of 0.64 and a beta of 0.78. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.20 and a quick ratio of 0.20. MetLife, Inc. has a 1-year low of $67.33 and a 1-year high of $89.62.

MetLife (NYSE:MET) last released its earnings results on Wednesday, May 6th. The financial services provider reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.15. MetLife had a return on equity of 22.60% and a net margin of 4.66%.The company had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $19.49 billion. During the same quarter last year, the company earned $1.96 earnings per share. MetLife’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts forecast that MetLife, Inc. will post 10 EPS for the current fiscal year.

MetLife Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 12th were paid a $0.5925 dividend. This represents a $2.37 annualized dividend and a dividend yield of 2.8%. This is a positive change from MetLife’s previous quarterly dividend of $0.57. The ex-dividend date was Tuesday, May 12th. MetLife’s dividend payout ratio (DPR) is 45.93%.

Analysts Set New Price Targets

Several brokerages have issued reports on MET. Piper Sandler raised their price objective on shares of MetLife from $86.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. JPMorgan Chase & Co. upped their target price on shares of MetLife from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Evercore set a $96.00 target price on shares of MetLife in a research note on Thursday, April 9th. Barclays raised their price target on MetLife from $89.00 to $93.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, TD Cowen reduced their price objective on MetLife from $91.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, MetLife presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.62.

About MetLife

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.