Sterling Capital Management LLC Has $25.91 Million Stock Holdings in MetLife, Inc. $MET

Key Points

• Sterling Capital Management LLC cut its MetLife stake by 11.2% in the first quarter, selling 46,119 shares and ending with 366,401 shares valued at about $25.9 million.
• MetLife recently raised its quarterly dividend to $0.5925 per share from $0.57, which works out to an annualized dividend of $2.37 and a yield of about 2.8%.
• Analysts remain broadly constructive on the stock, with a consensus rating of Moderate Buy and an average price target of $95.62; several firms, including Barclays, UBS, and Morgan Stanley, recently lifted their targets.

Sterling Capital Management LLC reduced its holdings in MetLife, Inc. (NYSE:MET - Free Report) by 11.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 366,401 shares of the financial services provider's stock after selling 46,119 shares during the quarter. Sterling Capital Management LLC owned approximately 0.06% of MetLife worth $25,912,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MET. Activest Wealth Management raised its position in MetLife by 205.8% during 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 during the last quarter. Vermillion & White Wealth Management Group LLC raised its position in shares of MetLife by 790.0% during the third quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider's stock worth $29,000 after acquiring an additional 316 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new position in shares of MetLife during the fourth quarter worth about $30,000. Sound Income Strategies LLC lifted its stake in shares of MetLife by 58.9% in the fourth quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider's stock worth $29,000 after acquiring an additional 142 shares during the period. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in MetLife in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 94.99% of the company's stock.

Key Headlines Impacting MetLife

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: MetLife Stadium is hosting major World Cup activity, including packed matches, celebrity appearances, and heavy media coverage, which keeps the MetLife name in front of a global audience and may support brand awareness. Article Title
• Positive Sentiment: Local business activity around World Cup events at MetLife Stadium suggests strong demand tied to the venue, reinforcing the stadium’s role as a major event destination and potentially benefiting MetLife’s public profile. Article Title
• Neutral Sentiment: Reports say fewer people than expected are taking trains and buses to MetLife Stadium for a World Cup match, which may indicate softer-than-hoped transit traffic but does not directly affect MetLife’s insurance business. Article Title
• Negative Sentiment: Several articles highlight criticism of MetLife Stadium’s turf and field conditions during World Cup play, which could create negative publicity around the MetLife name even though it is tied to the venue rather than the company’s core operations. Article Title

MetLife Stock Performance

NYSE:MET opened at $86.07 on Friday. The company has a fifty day moving average of $82.10 and a 200-day moving average of $78.08. The firm has a market capitalization of $55.38 billion, a P/E ratio of 16.68, a P/E/G ratio of 0.63 and a beta of 0.78. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.53. MetLife, Inc. has a twelve month low of $67.33 and a twelve month high of $89.62.

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 (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.15. The business had revenue of $14.18 billion for the quarter, compared to analyst estimates of $19.49 billion. MetLife had a net margin of 4.66% and a return on equity of 22.60%. MetLife's revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.96 earnings per share. As a group, sell-side analysts anticipate 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 given a dividend of $0.5925 per share. This is a boost from MetLife's previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.8%. MetLife's payout ratio is currently 45.93%.

Analysts Set New Price Targets

Several research analysts have issued reports on MET shares. Barclays raised their price target on shares of MetLife from $89.00 to $93.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. UBS Group increased their price objective on shares of MetLife from $98.00 to $102.00 and gave the stock a "buy" rating in a research report on Thursday, April 9th. Morgan Stanley boosted their target price on shares of MetLife from $89.00 to $93.00 and gave the company an "overweight" rating in a report on Thursday, May 21st. Wall Street Zen cut shares of MetLife from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, TD Cowen decreased their price target on MetLife from $91.00 to $88.00 and set a "buy" rating for the company in a report on Wednesday, March 11th. One investment 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 data from MarketBeat.com, MetLife has a consensus rating of "Moderate Buy" and an average target price of $95.62.

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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