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

Forum Financial Management LP decreased its holdings in shares of MetLife, Inc. (NYSE:MET) by 64.8% in the 1st quarter, according to the company in its most recent Form 13F 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 at the end of the most recent quarter.

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

MetLife News Roundup

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 Stock Down 1.5%

Shares of NYSE MET opened at $84.68 on Wednesday. The company has a market capitalization of $54.48 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth 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. The business has a 50-day moving average of $82.41 and a two-hundred day moving average of $78.17. MetLife, Inc. has a 1 year low of $67.33 and a 1 year high of $89.62.

MetLife (NYSE:MET) last released its quarterly earnings data 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 business had revenue of $14.18 billion for the quarter, compared to the consensus estimate of $19.49 billion. During the same quarter in the prior year, the business posted $1.96 EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts forecast that MetLife, Inc. will post 10 earnings per share for the current fiscal year.

MetLife Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 12th were given a dividend of $0.5925 per share. The ex-dividend date was Tuesday, May 12th. This represents a $2.37 annualized dividend and a dividend yield of 2.8%. This is a boost from MetLife’s previous quarterly dividend of $0.57. MetLife’s payout ratio is presently 45.93%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Mizuho set a $95.00 target price on MetLife in a research note on Friday, May 8th. Keefe, Bruyette & Woods boosted their price target on shares of MetLife from $87.00 to $98.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. increased their price target on shares of MetLife from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Wells Fargo & Company raised their price objective on shares of MetLife from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Finally, Piper Sandler lifted their price objective on shares of MetLife from $86.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.62.

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.