MetLife, Inc. $MET Shares Sold by Boston Common Asset Management LLC

Boston Common Asset Management LLC trimmed its stake in shares of MetLife, Inc. (NYSE:MET) by 11.2% during the first quarter, HoldingsChannel reports. The fund owned 109,516 shares of the financial services provider’s stock after selling 13,810 shares during the quarter. Boston Common Asset Management LLC’s holdings in MetLife were worth $7,745,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MET. Activest Wealth Management raised its stake in shares of MetLife by 205.8% in the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 212 shares in the last quarter. Sound Income Strategies LLC grew its stake in MetLife by 58.9% in the fourth quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 142 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in MetLife in the fourth quarter worth about $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in MetLife in the fourth quarter valued at about $31,000. Finally, Prosperity Bancshares Inc acquired a new stake in MetLife during the fourth quarter valued at approximately $31,000. Institutional investors own 94.99% of the company’s stock.

More MetLife News

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: MetLife Stadium is hosting the World Cup final, which keeps the venue in the global spotlight and may highlight the company’s high-profile asset and brand visibility. FIFA insists MetLife Stadium’s pitch is ready for the World Cup final despite criticism
• Positive Sentiment: Heavy media coverage around ticket sales, fan guides, food and drink pricing, and kickoff details suggests strong interest and traffic around the event at MetLife Stadium. How to buy tickets to see Spain in World Cup Final at MetLife
• Neutral Sentiment: News about weather, heat, storms, air quality, and wildfire smoke could affect the event experience, but it does not directly change MetLife’s earnings outlook. World Cup final could be shaped by heat, storms and air quality at MetLife Stadium
• Neutral Sentiment: FIFA’s criticism of the pitch and the “money grab” controversy may create headline risk for the venue, but the impact on MetLife’s stock is likely limited unless the issue affects operations or reputation more broadly. NJ governor slams FIFA’s money grab over sales of MetLife World Cup pitch
• Negative Sentiment: Ongoing criticism about the field quality and pitch conditions at MetLife Stadium could dent the venue’s reputation, even though it is unlikely to materially affect MetLife’s insurance business. The MetLife trap: the controversial pitch threatening the final | OneFootball

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MET shares. Evercore set a $96.00 target price on MetLife in a report on Thursday, April 9th. Bank of America lowered their price target on MetLife from $103.00 to $99.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Piper Sandler upped their price target on MetLife from $86.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, June 24th. Weiss Ratings upgraded MetLife from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 15th. Finally, Barclays lifted their price objective on shares of MetLife from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. One equities 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.57.

MetLife Price Performance

Shares of NYSE MET opened at $93.99 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.20 and a quick ratio of 0.20. The firm has a market capitalization of $60.48 billion, a PE ratio of 18.21, a P/E/G ratio of 0.72 and a beta of 0.78. MetLife, Inc. has a 1-year low of $67.33 and a 1-year high of $94.86. The business’s fifty day moving average price is $85.80 and its two-hundred day moving average price is $79.07.

MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.15. The company had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $19.49 billion. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.96 earnings per share. On average, research analysts expect that MetLife, Inc. will post 9.94 EPS for the current year.

MetLife Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Tuesday, August 4th will be paid a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 4th. MetLife’s payout ratio is presently 45.93%.

MetLife Company Profile

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.