KBC Group NV Sells 65,545 Shares of MetLife, Inc. $MET

Key Points

• KBC Group NV reduced its MetLife stake by 4.6% in the first quarter, selling 65,545 shares and leaving it with 1,355,024 shares valued at about $95.8 million.
• Several analysts remain bullish on MetLife, with recent target-price increases from JPMorgan, Jefferies, KBW, UBS, and Mizuho. The stock carries a Moderate Buy consensus and an average price target of $98.57.
• MetLife reported Q1 EPS of $2.42, beating estimates, and announced a quarterly dividend of $0.5925 per share to be paid on September 8, implying a 2.5% yield.

KBC Group NV trimmed its position in shares of MetLife, Inc. (NYSE:MET - Free Report) by 4.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,355,024 shares of the financial services provider's stock after selling 65,545 shares during the quarter. KBC Group NV owned 0.21% of MetLife worth $95,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of MET. Activest Wealth Management lifted its holdings in MetLife by 205.8% in the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 212 shares during the period. Garton & Associates Financial Advisors LLC bought a new stake in shares of MetLife during the 4th quarter valued at about $30,000. Sound Income Strategies LLC increased its position 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 valued at $29,000 after purchasing an additional 142 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of MetLife in the 4th quarter worth approximately $31,000. Finally, Prosperity Bancshares Inc purchased a new position in shares of MetLife in the fourth quarter worth approximately $31,000. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MET shares. JPMorgan Chase & Co. boosted their target price on shares of MetLife from $95.00 to $96.00 and gave the company an "overweight" rating in a research report on Tuesday, May 12th. Jefferies Financial Group increased their price target on shares of MetLife from $97.00 to $103.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Keefe, Bruyette & Woods lifted their price target on shares of MetLife from $98.00 to $105.00 and gave the stock an "outperform" rating in a research note on Monday, July 13th. UBS Group boosted their price objective on shares of MetLife from $102.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. Finally, Mizuho upped their price objective on MetLife from $95.00 to $102.00 and gave the stock an "outperform" rating in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, MetLife currently has a consensus rating of "Moderate Buy" and a consensus target price of $98.57.

MetLife Trading Down 0.0%

Shares of NYSE:MET opened at $93.99 on Monday. The stock has a 50 day moving average of $85.80 and a 200 day moving average of $79.07. The company has a market cap of $60.48 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 0.72 and a beta of 0.78. MetLife, Inc. has a 12-month low of $67.33 and a 12-month high of $94.86. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.53.

MetLife (NYSE:MET - Get Free Report) last released its earnings results on Wednesday, May 6th. The financial services provider reported $2.42 EPS for the quarter, topping analysts' consensus estimates of $2.27 by $0.15. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The company had revenue of $14.18 billion for the quarter, compared to analysts' expectations of $19.49 billion. During the same quarter last year, the business earned $1.96 EPS. The firm's revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts expect that MetLife, Inc. will post 9.94 EPS for the current year.

MetLife Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 4th will be given a dividend of $0.5925 per share. This represents a $2.37 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Tuesday, August 4th. MetLife's dividend payout ratio (DPR) is presently 45.93%.

Key MetLife News

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: MetLife Stadium is hosting the World Cup final, which keeps the venue in the global spotlight and may highlight the company’s high-profile asset and brand visibility. FIFA insists MetLife Stadium’s pitch is ready for the World Cup final despite criticism
• Positive Sentiment: Heavy media coverage around ticket sales, fan guides, food and drink pricing, and kickoff details suggests strong interest and traffic around the event at MetLife Stadium. How to buy tickets to see Spain in World Cup Final at MetLife
• Neutral Sentiment: News about weather, heat, storms, air quality, and wildfire smoke could affect the event experience, but it does not directly change MetLife’s earnings outlook. World Cup final could be shaped by heat, storms and air quality at MetLife Stadium
• Neutral Sentiment: FIFA’s criticism of the pitch and the “money grab” controversy may create headline risk for the venue, but the impact on MetLife’s stock is likely limited unless the issue affects operations or reputation more broadly. NJ governor slams FIFA’s money grab over sales of MetLife World Cup pitch
• Negative Sentiment: Ongoing criticism about the field quality and pitch conditions at MetLife Stadium could dent the venue’s reputation, even though it is unlikely to materially affect MetLife’s insurance business. The MetLife trap: the controversial pitch threatening the final | OneFootball

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.

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