MetLife, Inc. $MET Position Lowered by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC reduced its position in MetLife, Inc. (NYSE:MET) by 35.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,956 shares of the financial services provider’s stock after selling 7,772 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in MetLife were worth $987,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in MetLife by 9.0% during the fourth quarter. Brighton Jones LLC now owns 4,240 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 351 shares during the last quarter. Caxton Associates LLP bought a new stake in MetLife during the first quarter valued at $307,000. Empowered Funds LLC raised its holdings in shares of MetLife by 187.6% during the first quarter. Empowered Funds LLC now owns 33,378 shares of the financial services provider’s stock worth $2,680,000 after purchasing an additional 21,771 shares during the period. Sivia Capital Partners LLC bought a new position in shares of MetLife in the 2nd quarter worth about $404,000. Finally, Jump Financial LLC acquired a new position in shares of MetLife in the 2nd quarter valued at about $444,000. Institutional investors and hedge funds own 94.99% of the company’s stock.

More MetLife News

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: MetLife is being highlighted by market commentators as one of the best value stocks to buy right now, reinforcing investor interest in the company’s attractive valuation and income profile. Here is Why MetLife (MET) is One of the Best Value Stocks to Buy Right Now
• Positive Sentiment: MetLife recently launched the Non-Qualified Assignment Flex Agreement, a new funding solution that gives customers more flexible settlement options for non-physical injury claims, which could support business growth in its structured settlement-related offerings. Here is Why MetLife (MET) is One of the Best Value Stocks to Buy Right Now
• Neutral Sentiment: Several articles centered on World Cup matches and fan activity at MetLife Stadium, including ticket sales, match previews, and travel/parking coverage. These stories are more about the venue than MetLife, Inc.’s core insurance operations, so they are not likely to have a meaningful impact on MET shares.
• Negative Sentiment: There was also some attention on turf and weather concerns at MetLife Stadium during World Cup coverage, but this appears tied to stadium operations rather than the insurer’s fundamentals and should have limited direct impact on the stock.

Analyst Ratings Changes

Several research firms recently weighed in on MET. Piper Sandler increased their price objective on shares of MetLife from $86.00 to $90.00 and gave the stock a “neutral” rating in a research note 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. TD Cowen lowered their target price on MetLife from $91.00 to $88.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. Morgan Stanley increased their price target on MetLife from $89.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, May 21st. Finally, Barclays boosted their price objective on MetLife from $89.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $95.62.

MetLife Stock Performance

Shares of NYSE MET opened at $87.17 on Thursday. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.53. The stock has a 50 day simple moving average of $82.60 and a 200-day simple moving average of $78.20. The company has a market cap of $56.09 billion, a PE ratio of 16.89, a P/E/G ratio of 0.63 and a beta of 0.78. MetLife, Inc. has a 12-month low of $67.33 and a 12-month high of $89.62.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $2.42 EPS for the quarter, beating the consensus estimate of $2.27 by $0.15. The firm had revenue of $14.18 billion for the quarter, compared to analysts’ expectations of $19.49 billion. MetLife had a return on equity of 22.60% and a net margin of 4.66%.The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $1.96 EPS. On average, equities research analysts forecast that MetLife, Inc. will post 10 EPS for the current year.

MetLife Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 12th were issued a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.7%. This is a positive change from MetLife’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Tuesday, May 12th. MetLife’s dividend payout ratio is 45.93%.

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.