California State Teachers Retirement System Lowers Stock Holdings in MetLife, Inc. $MET

Key Points

• California State Teachers Retirement System reduced its MetLife stake by 2.9%, selling 27,269 shares and retaining 907,511 shares valued at approximately $64.2 million. Institutional investors collectively own 94.99% of MetLife.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $100.50. Several firms recently raised their targets to between $101 and $103.
• MetLife reported quarterly EPS of $2.42, exceeding estimates of $2.27, and declared a quarterly dividend of $0.5925 per share, equivalent to an annualized yield of about 2.4%.

California State Teachers Retirement System lowered its stake in MetLife, Inc. (NYSE:MET - Free Report) by 2.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 907,511 shares of the financial services provider's stock after selling 27,269 shares during the period. California State Teachers Retirement System owned approximately 0.14% of MetLife worth $64,179,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Activest Wealth Management increased its stake in 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 buying an additional 212 shares during the period. Sound Income Strategies LLC lifted its stake in shares of MetLife by 58.9% in the 4th quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider's stock worth $29,000 after acquiring an additional 142 shares during the period. Garton & Associates Financial Advisors LLC purchased a new stake in shares of MetLife in the fourth quarter valued at about $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of MetLife in the fourth quarter valued at about $31,000. Finally, Prosperity Bancshares Inc acquired a new stake in shares of MetLife in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 94.99% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on MET. Jefferies Financial Group lifted their price objective on MetLife from $97.00 to $103.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Weiss Ratings upgraded MetLife from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, June 15th. Wells Fargo & Company raised their price target on MetLife from $95.00 to $101.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Evercore set a $96.00 price target on MetLife in a report on Thursday, April 9th. Finally, Mizuho upped their price objective on MetLife from $95.00 to $102.00 and gave the company an "outperform" rating in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $100.50.

MetLife Stock Performance

NYSE:MET opened at $97.17 on Friday. 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 cap of $62.52 billion, a PE ratio of 18.83, a P/E/G ratio of 0.74 and a beta of 0.78. The firm has a 50 day simple moving average of $88.43 and a 200-day simple moving average of $80.02. MetLife, Inc. has a 1-year low of $67.33 and a 1-year high of $97.80.

MetLife (NYSE:MET - Get Free Report) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.27 by $0.15. The firm had revenue of $14.18 billion for the quarter, compared to analyst estimates of $19.49 billion. MetLife had a net margin of 4.66% and a return on equity of 22.60%. MetLife's revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.96 earnings per share. On average, equities analysts expect that MetLife, Inc. will post 9.89 EPS for the current year.

MetLife Announces Dividend

The firm also recently declared 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 dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, August 4th. MetLife's dividend payout ratio is currently 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.

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