Evolve Private Wealth LLC Acquires Shares of 40,298 MetLife, Inc. $MET

Key Points

• Evolve Private Wealth LLC opened a new position in MetLife during the fourth quarter, buying 40,298 shares valued at about $3.18 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding about 94.99% of MetLife’s stock.
• Analysts have turned more constructive on the stock: several firms raised price targets, and the consensus rating is Moderate Buy with a target price of about $95.31. MetLife also recently beat EPS estimates and increased its quarterly dividend to $0.5925 per share.

Evolve Private Wealth LLC acquired a new stake in MetLife, Inc. (NYSE:MET - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 40,298 shares of the financial services provider's stock, valued at approximately $3,181,000.

Several other hedge funds have also bought and sold shares of MET. Activest Wealth Management lifted 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 during the period. Vermillion & White Wealth Management Group LLC raised its position in shares of MetLife by 790.0% in the third quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider's stock worth $29,000 after acquiring an additional 316 shares during the period. Sound Income Strategies LLC boosted its stake in shares of MetLife by 58.9% during 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 in the last quarter. Prosperity Bancshares Inc purchased a new position in shares of MetLife in the 4th quarter valued at about $31,000. Finally, Foster Dykema Cabot & Partners LLC acquired a new position in MetLife in the 3rd quarter worth about $32,000. Hedge funds and other institutional investors own 94.99% of the company's stock.

Key MetLife News

Here are the key news stories impacting MetLife this week:

• Negative Sentiment: France’s coach and players criticized the MetLife Stadium turf, with repeated comparisons to a hard surface and renewed questions about whether the pitch is suitable for elite soccer. This keeps attention on operational issues at the venue and may pressure sentiment around the MetLife brand. Article Title
• Negative Sentiment: Additional reports highlight backlash over the stadium’s surface, including comments from Adrien Rabiot and other observers, reinforcing concerns that the field conditions could draw more negative publicity as the tournament continues. Article Title
• Negative Sentiment: Travel and commuter headaches around World Cup matches at MetLife Stadium were also reported, including congestion and concerns about unsold train tickets, adding another layer of operational criticism tied to the venue. Article Title
• Neutral Sentiment: Some coverage noted that NJ Transit received mixed to positive feedback from parts of the crowd, suggesting the transportation situation may be manageable despite earlier concerns. Article Title
• Neutral Sentiment: The World Cup final being scheduled at MetLife Stadium keeps the venue in the global spotlight, but the headline itself is not directly related to MetLife’s insurance operations or near-term fundamentals. Article Title

Analysts Set New Price Targets

Several brokerages have recently weighed in on MET. Barclays upped their target price on MetLife from $89.00 to $93.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Mizuho set a $95.00 price target on shares of MetLife in a report on Friday, May 8th. Keefe, Bruyette & Woods increased their price objective on shares of MetLife from $87.00 to $98.00 and gave the company an "outperform" rating in a report on Wednesday, May 13th. Weiss Ratings upgraded shares of MetLife from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday. Finally, Wells Fargo & Company upped their price target on shares of MetLife from $90.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 12th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $95.31.

MetLife Price Performance

Shares of MET stock opened at $85.96 on Thursday. The company has a market capitalization of $55.31 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 0.66 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 firm's 50-day moving average is $80.52 and its two-hundred day moving average is $77.65. MetLife, Inc. has a 12 month low of $67.33 and a 12 month high of $89.62.

MetLife (NYSE:MET - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.42 EPS for the quarter, topping the consensus estimate of $2.27 by $0.15. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The firm had revenue of $14.18 billion for the quarter, compared to analyst estimates of $19.49 billion. During the same period in the prior year, the business posted $1.96 EPS. The business's revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts predict that MetLife, Inc. will post 9.98 earnings per share for the current year.

MetLife Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 12th were issued a $0.5925 dividend. This represents a $2.37 annualized dividend and a yield of 2.8%. 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%.

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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