Point72 Europe London LLP Sells 21,200 Shares of MetLife, Inc. $MET

Key Points

• Point72 Europe London LLP has reduced its holdings in MetLife, Inc. by 18.0%, selling 21,200 shares and retaining a total of 96,664 shares valued at approximately $7,761,000.
• MetLife's recent earnings report showed earnings per share of $2.02, falling short of analyst expectations of $2.32, and the company reported a 2.7% decrease in revenue year-over-year.
• The firm has announced a quarterly dividend of $0.5675 per share, resulting in an annualized dividend yield of 2.8%, with a dividend payout ratio of 38.47%.

Point72 Europe London LLP reduced its holdings in shares of MetLife, Inc. (NYSE:MET - Free Report) by 18.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 96,664 shares of the financial services provider's stock after selling 21,200 shares during the quarter. Point72 Europe London LLP's holdings in MetLife were worth $7,761,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Ball & Co Wealth Management Inc. bought a new position in MetLife in the fourth quarter valued at $25,000. North Capital Inc. acquired a new position in shares of MetLife during the 1st quarter worth about $26,000. Quarry LP bought a new position in shares of MetLife in the 4th quarter valued at about $31,000. Motco increased its position in shares of MetLife by 105.5% in the first quarter. Motco now owns 413 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 212 shares during the last quarter. Finally, WPG Advisers LLC bought a new stake in MetLife during the first quarter worth about $46,000. Institutional investors own 94.99% of the company's stock.

MetLife Stock Performance

Shares of NYSE MET opened at $81.41 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market cap of $54.14 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 0.73 and a beta of 0.85. The stock's fifty day moving average price is $78.17 and its two-hundred day moving average price is $78.41. MetLife, Inc. has a one year low of $65.21 and a one year high of $89.05.

MetLife (NYSE:MET - Get Free Report) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share for the quarter, missing analysts' consensus estimates of $2.32 by ($0.30). MetLife had a return on equity of 19.88% and a net margin of 5.83%.The firm had revenue of $17.34 billion for the quarter, compared to analyst estimates of $18.58 billion. During the same period in the prior year, the business posted $2.28 EPS. The firm's quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities analysts forecast that MetLife, Inc. will post 9.65 EPS for the current year.

MetLife Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 5th will be given a dividend of $0.5675 per share. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Tuesday, August 5th. MetLife's dividend payout ratio is presently 38.47%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MET. Morgan Stanley decreased their price target on MetLife from $98.00 to $94.00 and set an "overweight" rating for the company in a research note on Monday, August 18th. UBS Group decreased their target price on shares of MetLife from $94.00 to $91.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Barclays upped their price target on shares of MetLife from $88.00 to $94.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Wells Fargo & Company reissued an "overweight" rating and issued a $97.00 price objective (up previously from $94.00) on shares of MetLife in a research report on Thursday, July 10th. Finally, Wall Street Zen lowered shares of MetLife from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $95.60.

About MetLife

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-and long-term disability, individual disability, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.

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