MetLife, Inc. $MET Shares Sold by Boston Common Asset Management LLC

Key Points

• Boston Common Asset Management reduced its MetLife stake by 11.2% in the first quarter, selling 13,810 shares and leaving it with 109,516 shares worth about $7.75 million.
• MetLife beat earnings expectations in its latest quarterly report, posting $2.42 EPS versus the $2.27 consensus, though revenue came in below analyst estimates at $14.18 billion.
• The company also declared a quarterly dividend of $0.5925 per share, payable Sept. 8, implying an annualized yield of about 2.5%; analysts currently rate the stock a moderate buy with an average target price of $98.57.

Boston Common Asset Management LLC trimmed its position in MetLife, Inc. (NYSE:MET - Free Report) by 11.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,516 shares of the financial services provider's stock after selling 13,810 shares during the quarter. Boston Common Asset Management LLC's holdings in MetLife were worth $7,745,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its position in MetLife by 9.0% during the fourth quarter. Brighton Jones LLC now owns 4,240 shares of the financial services provider's stock valued at $347,000 after buying an additional 351 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of MetLife in the first quarter worth $307,000. Empowered Funds LLC raised its stake in shares of MetLife by 187.6% in the 1st quarter. Empowered Funds LLC now owns 33,378 shares of the financial services provider's stock valued at $2,680,000 after acquiring an additional 21,771 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of MetLife in the 2nd quarter valued at $404,000. Finally, Jump Financial LLC acquired a new position in shares of MetLife during the 2nd quarter valued at $444,000. Hedge funds and other institutional investors own 94.99% of the company's stock.

MetLife Stock Performance

NYSE:MET opened at $93.99 on Monday. The firm has a 50-day moving average of $85.80 and a two-hundred day moving average of $79.07. 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 stock has a market cap of $60.48 billion, a P/E ratio of 18.21, a PEG ratio of 0.72 and a beta of 0.78. MetLife, Inc. has a 1-year low of $67.33 and a 1-year high of $94.86.

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. MetLife had a return on equity of 22.60% and a net margin of 4.66%.The business had revenue of $14.18 billion for the quarter, compared to analyst estimates of $19.49 billion. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.96 earnings per share. On average, research analysts expect that MetLife, Inc. will post 9.94 earnings per share for the current fiscal year.

MetLife Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley upped their price target on shares of MetLife from $93.00 to $103.00 and gave the stock an "overweight" rating in a research report on Monday, July 6th. Bank of America cut their price objective on MetLife from $103.00 to $99.00 and set a "buy" rating on the stock in a research report on Tuesday, April 14th. Wall Street Zen cut MetLife from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings raised MetLife from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, June 15th. Finally, Keefe, Bruyette & Woods increased their target price on MetLife from $98.00 to $105.00 and gave the company an "outperform" rating in a research note on Monday, July 13th. One research 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $98.57.

Key Stories Impacting MetLife

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 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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