MetLife, Inc. $MET Stock Position Decreased by Private Management Group Inc.

Key Points

• Private Management Group cut its MetLife stake by 17.5% in the third quarter, selling 61,250 shares and ending the period with 288,376 shares valued at about $27.2 million.
• Analysts remain broadly positive: 14 rate the stock Buy and one rates it Hold, with a consensus price target of $106.62.
• MetLife beat quarterly earnings and revenue estimates, with revenue up 18.2% year over year. The company also authorized up to $3 billion in share repurchases and declared a quarterly dividend of $0.5925 per share.

Private Management Group Inc. lowered its holdings in MetLife, Inc. (NYSE:MET - Free Report) by 17.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 288,376 shares of the financial services provider's stock after selling 61,250 shares during the period. Private Management Group Inc.'s holdings in MetLife were worth $27,153,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Mowery & Schoenfeld Wealth Management LLC purchased a new position in MetLife in the 2nd quarter valued at approximately $26,000. Burk Holdings LLC purchased a new stake in shares of MetLife during the second quarter worth $27,000. Nvwm LLC increased its position in shares of MetLife by 655.3% during the third quarter. Nvwm LLC now owns 287 shares of the financial services provider's stock worth $27,000 after acquiring an additional 249 shares during the period. Highland Investment Advisors LLC acquired a new stake in shares of MetLife in the second quarter valued at $30,000. Finally, Elevation Wealth Partners LLC raised its stake in shares of MetLife by 123.5% in the third quarter. Elevation Wealth Partners LLC now owns 362 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 200 shares in the last quarter. 94.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MET has been the subject of several analyst reports. Morgan Stanley boosted their target price on MetLife from $103.00 to $111.00 and gave the stock an "overweight" rating in a research note on Monday, August 24th. Atlantic Securities set a $103.00 price target on MetLife in a report on Wednesday, July 15th. Bank of America reduced their price target on MetLife from $106.00 to $103.00 and set a "buy" rating on the stock in a research report on Wednesday, July 15th. Argus lifted their price objective on MetLife from $93.00 to $109.00 and gave the company a "buy" rating in a research note on Wednesday, September 2nd. Finally, TD Cowen boosted their price objective on MetLife from $110.00 to $114.00 and gave the stock a "buy" rating in a research report on Wednesday, October 21st. Fourteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $106.62.

MetLife Price Performance

MetLife stock opened at $101.80 on Tuesday. The stock has a market cap of $65.50 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 0.97 and a beta of 0.79. The company has a fifty day simple moving average of $98.26 and a 200-day simple moving average of $86.39. MetLife, Inc. has a 12-month low of $67.33 and a 12-month high of $106.72. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.52.

MetLife (NYSE:MET - Get Free Report) last issued its earnings results on Wednesday, November 4th. The financial services provider reported $2.78 EPS for the quarter, topping analysts' consensus estimates of $2.77 by $0.01. The firm had revenue of $20.52 billion during the quarter, compared to the consensus estimate of $19.86 billion. MetLife had a net margin of 6.21% and a return on equity of 24.45%. The company's revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.34 earnings per share. Equities analysts expect that MetLife, Inc. will post 9.93 EPS for the current fiscal year.

MetLife declared that its board has approved a share repurchase plan on Wednesday, August 5th that allows the company to buy back $3 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 4.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its shares are undervalued.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Tuesday, November 3rd will be issued a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, November 3rd. MetLife's payout ratio is 30.90%.

MetLife Profile

MetLife, Inc is a global financial services company best known for providing insurance, employee benefits and retirement-related products. Its offerings include life, dental and disability insurance, annuities, and products and services designed to help individuals and employers plan for financial protection and retirement.

The company serves individuals, businesses and institutions in the United States and international markets, including countries in Latin America, Asia, Europe and the Middle East.

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