JARISLOWSKY FRASER Ltd Reduces Stock Position in MetLife, Inc. (NYSE:MET)

JARISLOWSKY FRASER Ltd trimmed its position in MetLife, Inc. (NYSE:METFree Report) by 17.4% in the 4th quarter, HoldingsChannel reports. The firm owned 51,495 shares of the financial services provider’s stock after selling 10,815 shares during the quarter. JARISLOWSKY FRASER Ltd’s holdings in MetLife were worth $3,405,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Criterion Capital Advisors LLC purchased a new position in MetLife during the 4th quarter worth approximately $26,000. Quintet Private Bank Europe S.A. purchased a new position in shares of MetLife during the third quarter worth $28,000. Planned Solutions Inc. acquired a new position in MetLife during the fourth quarter valued at $28,000. Tennessee Valley Asset Management Partners purchased a new stake in MetLife in the fourth quarter valued at $34,000. Finally, Headlands Technologies LLC purchased a new stake in MetLife in the third quarter valued at $36,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Transactions at MetLife

In related news, insider Ramy Tadros sold 4,026 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total value of $289,469.40. Following the completion of the sale, the insider now owns 146,981 shares of the company’s stock, valued at $10,567,933.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other MetLife news, EVP Bill Pappas sold 27,000 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $72.27, for a total value of $1,951,290.00. Following the transaction, the executive vice president now directly owns 57,768 shares in the company, valued at approximately $4,174,893.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ramy Tadros sold 4,026 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total transaction of $289,469.40. Following the sale, the insider now owns 146,981 shares of the company’s stock, valued at approximately $10,567,933.90. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

MetLife Price Performance

Shares of MET traded down $1.09 during trading hours on Tuesday, hitting $71.45. 544,460 shares of the stock were exchanged, compared to its average volume of 3,409,800. The stock’s 50-day moving average price is $72.22 and its two-hundred day moving average price is $68.94. MetLife, Inc. has a 12-month low of $49.38 and a 12-month high of $74.68. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market cap of $50.81 billion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 0.61 and a beta of 1.03.

MetLife (NYSE:METGet Free Report) last released its earnings results on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.83. The business had revenue of $17.02 billion during the quarter, compared to analyst estimates of $17.73 billion. MetLife had a net margin of 3.50% and a return on equity of 20.39%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.52 earnings per share. Research analysts expect that MetLife, Inc. will post 8.62 earnings per share for the current year.

MetLife announced that its board has initiated a stock repurchase program on Wednesday, May 1st that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

MetLife Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 7th will be paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 3.05%. This is a positive change from MetLife’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, May 6th. MetLife’s dividend payout ratio (DPR) is 74.91%.

Analysts Set New Price Targets

A number of analysts have recently commented on MET shares. Morgan Stanley upped their target price on MetLife from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. UBS Group cut their target price on shares of MetLife from $87.00 to $82.00 and set a “buy” rating for the company in a report on Monday, February 5th. Wells Fargo & Company lowered their price target on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. StockNews.com cut shares of MetLife from a “buy” rating to a “hold” rating in a report on Saturday, May 11th. Finally, Piper Sandler lowered their target price on shares of MetLife from $85.00 to $82.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $79.08.

Read Our Latest Analysis on MET

MetLife Company Profile

(Free Report)

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-and long-term disability, individual disability, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.

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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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