Pictet Asset Management Holding SA Lowers Stake in MetLife, Inc. $MET

Key Points

• Pictet Asset Management Holding SA cut its MetLife stake by 12.9% in the first quarter, selling 42,605 shares and leaving it with 288,779 shares valued at about $20.4 million.
• MetLife reported better-than-expected earnings of $2.42 per share in its latest quarter, though revenue missed analyst estimates. Revenue still rose 2.7% year over year.
• The company raised its quarterly dividend to $0.5925 per share, and Wall Street remains constructive with a consensus Moderate Buy rating and an average price target of $95.62.

Pictet Asset Management Holding SA lowered its holdings in shares of MetLife, Inc. (NYSE:MET - Free Report) by 12.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 288,779 shares of the financial services provider's stock after selling 42,605 shares during the period. Pictet Asset Management Holding SA's holdings in MetLife were worth $20,419,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Activest Wealth Management boosted its position 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 worth $25,000 after purchasing an additional 212 shares in the last quarter. Vermillion & White Wealth Management Group LLC increased its position in MetLife by 790.0% during the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider's stock valued at $29,000 after buying an additional 316 shares in the last quarter. Sound Income Strategies LLC raised its stake in MetLife by 58.9% during the fourth quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider's stock valued at $29,000 after buying an additional 142 shares during the last quarter. Garton & Associates Financial Advisors LLC purchased a new position in MetLife during the fourth quarter valued at $30,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in MetLife in the fourth quarter worth $31,000. Institutional investors own 94.99% of the company's stock.

MetLife Price Performance

NYSE MET opened at $87.17 on Thursday. MetLife, Inc. has a one year low of $67.33 and a one year high of $89.62. The stock has a 50-day moving average of $82.60 and a 200 day moving average of $78.20. The company has a market capitalization of $56.09 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 0.63 and a beta of 0.78. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.20 and a current ratio of 0.20.

MetLife (NYSE:MET - Get Free Report) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share for the quarter, topping analysts' consensus estimates of $2.27 by $0.15. The business had revenue of $14.18 billion during the quarter, compared to analyst estimates of $19.49 billion. MetLife had a return on equity of 22.60% and a net margin of 4.66%.MetLife's revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.96 EPS. On average, sell-side analysts forecast that MetLife, Inc. will post 10 EPS for the current year.

MetLife Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 12th were issued a dividend of $0.5925 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This is a positive change from MetLife's previous quarterly dividend of $0.57. This represents a $2.37 annualized dividend and a dividend yield of 2.7%. MetLife's dividend payout ratio is presently 45.93%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Mizuho set a $95.00 price target on MetLife in a report on Friday, May 8th. Morgan Stanley upped their price target on shares of MetLife from $89.00 to $93.00 and gave the stock an "overweight" rating in a research note on Thursday, May 21st. TD Cowen reduced their price objective on shares of MetLife from $91.00 to $88.00 and set a "buy" rating for the company in a research note on Wednesday, March 11th. Evercore set a $96.00 target price on shares of MetLife in a report on Thursday, April 9th. Finally, Barclays upped their target price on shares of MetLife from $89.00 to $93.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. 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 company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $95.62.

Key Headlines Impacting MetLife

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: MetLife is being highlighted by market commentators as one of the best value stocks to buy right now, reinforcing investor interest in the company’s attractive valuation and income profile. Here is Why MetLife (MET) is One of the Best Value Stocks to Buy Right Now
• Positive Sentiment: MetLife recently launched the Non-Qualified Assignment Flex Agreement, a new funding solution that gives customers more flexible settlement options for non-physical injury claims, which could support business growth in its structured settlement-related offerings. Here is Why MetLife (MET) is One of the Best Value Stocks to Buy Right Now
• Neutral Sentiment: Several articles centered on World Cup matches and fan activity at MetLife Stadium, including ticket sales, match previews, and travel/parking coverage. These stories are more about the venue than MetLife, Inc.’s core insurance operations, so they are not likely to have a meaningful impact on MET shares.
• Negative Sentiment: There was also some attention on turf and weather concerns at MetLife Stadium during World Cup coverage, but this appears tied to stadium operations rather than the insurer’s fundamentals and should have limited direct impact on the stock.

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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