MetLife, Inc. $MET Position Trimmed by Wealthfront Advisers LLC

Key Points

• Wealthfront Advisers cut its MetLife stake by 24.4% in the first quarter, selling 19,732 shares and leaving it with 61,147 shares valued at about $4.3 million.
• Analysts remain mostly constructive on the stock, with MetLife carrying an average rating of “Moderate Buy” and an average price target of $98.57 after several firms raised or adjusted targets.
• MetLife recently reported EPS of $2.42, beating expectations, and announced a quarterly dividend of $0.5925 per share, implying an annualized yield of about 2.5%.

Wealthfront Advisers LLC lowered its stake in MetLife, Inc. (NYSE:MET - Free Report) by 24.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 61,147 shares of the financial services provider's stock after selling 19,732 shares during the period. Wealthfront Advisers LLC's holdings in MetLife were worth $4,324,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of MET. Activest Wealth Management lifted its holdings in shares of MetLife by 205.8% during the fourth 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 last quarter. Sound Income Strategies LLC increased its stake in 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 purchasing an additional 142 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in MetLife during the 4th quarter worth about $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in MetLife during the fourth quarter valued at about $31,000. Finally, Prosperity Bancshares Inc purchased a new stake in MetLife during the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 94.99% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lifted their target price on shares of MetLife from $98.00 to $105.00 and gave the stock an "outperform" rating in a research report on Monday, July 13th. Bank of America decreased their price objective on shares of MetLife from $103.00 to $99.00 and set a "buy" rating for the company in a research note on Tuesday, April 14th. Evercore set a $96.00 price objective on shares of MetLife in a research report on Thursday, April 9th. Piper Sandler boosted their target price on shares of MetLife from $86.00 to $90.00 and gave the company a "neutral" rating in a research note on Wednesday, June 24th. Finally, Atlantic Securities set a $103.00 target price on MetLife in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $98.57.

MetLife News Roundup

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

MetLife Price Performance

NYSE MET opened at $93.99 on Monday. 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 capitalization of $60.48 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 0.72 and a beta of 0.78. The company has a 50 day simple moving average of $85.80 and a 200-day simple moving average of $79.07. MetLife, Inc. has a 52-week low of $67.33 and a 52-week high of $94.86.

MetLife (NYSE:MET - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.42 EPS for the quarter, beating 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 firm had revenue of $14.18 billion for the quarter, compared to the consensus estimate of $19.49 billion. During the same period in the previous year, the firm posted $1.96 earnings per share. The firm's revenue was up 2.7% on a year-over-year basis. Equities research analysts predict that MetLife, Inc. will post 9.94 earnings per share for the current fiscal year.

MetLife Announces Dividend

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

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