Savant Capital LLC Trims Position in MetLife, Inc. $MET

by · The Markets Daily

Savant Capital LLC reduced its stake in MetLife, Inc. (NYSE:MET – Free Report) by 46.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,006 shares of the financial services provider’s stock after selling 14,531 shares during the period. Savant Capital LLC’s holdings in MetLife were worth $1,342,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Providence Capital Advisors LLC purchased a new stake in MetLife in the 3rd quarter valued at about $6,649,000. Nordea Investment Management AB raised its holdings in MetLife by 2.6% in the 4th quarter. Nordea Investment Management AB now owns 4,630,165 shares of the financial services provider’s stock valued at $366,524,000 after buying an additional 117,545 shares during the period. Varma Mutual Pension Insurance Co raised its holdings in MetLife by 21.9% in the 3rd quarter. Varma Mutual Pension Insurance Co now owns 137,956 shares of the financial services provider’s stock valued at $11,363,000 after buying an additional 24,800 shares during the period. Lansforsakringar Fondforvaltning AB publ raised its holdings in MetLife by 6.5% in the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 187,358 shares of the financial services provider’s stock valued at $15,433,000 after buying an additional 11,469 shares during the period. Finally, Lighthouse Investment Partners LLC purchased a new stake in MetLife in the 3rd quarter valued at about $8,091,000. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Stock Performance

Shares of MetLife stock opened at $81.96 on Tuesday. MetLife, Inc. has a one year low of $67.33 and a one year high of $85.29. The company has a market cap of $52.74 billion, a PE ratio of 15.88, a P/E/G ratio of 0.62 and a beta of 0.78. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.20 and a current ratio of 0.20. The business has a 50-day simple moving average of $76.75 and a 200-day simple moving average of $76.88.

MetLife (NYSE:MET – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.42 EPS for the quarter, topping 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 business had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $19.49 billion. During the same period in the previous year, the company posted $1.96 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts forecast that MetLife, Inc. will post 9.96 EPS for the current fiscal year.

MetLife Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 12th will be given a dividend of $0.5925 per share. This is a boost from MetLife’s previous quarterly dividend of $0.57. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, May 12th. MetLife’s dividend payout ratio is presently 45.93%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of MetLife from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Barclays boosted their price objective on shares of MetLife from $89.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Mizuho set a $95.00 price objective on shares of MetLife in a report on Friday, May 8th. Piper Sandler boosted their price target on shares of MetLife from $81.00 to $86.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Finally, JPMorgan Chase & Co. boosted their price target on shares of MetLife from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $95.31.

Check Out Our Latest Report on MET

MetLife Profile

(Free Report)

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.

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