Truist Financial Corp Has $50.51 Million Position in MetLife, Inc. (NYSE:MET)

Truist Financial Corp reduced its holdings in MetLife, Inc. (NYSE:MET - Free Report) by 6.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 629,051 shares of the financial services provider's stock after selling 43,722 shares during the period. Truist Financial Corp owned approximately 0.09% of MetLife worth $50,506,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Capital Investment Advisory Services LLC lifted its holdings in MetLife by 21.1% in the first quarter. Capital Investment Advisory Services LLC now owns 21,400 shares of the financial services provider's stock valued at $1,718,000 after buying an additional 3,724 shares during the period. Impax Asset Management Group plc lifted its holdings in MetLife by 3.6% in the first quarter. Impax Asset Management Group plc now owns 59,793 shares of the financial services provider's stock valued at $4,801,000 after buying an additional 2,057 shares during the period. Argyle Capital Management LLC lifted its holdings in MetLife by 4.8% in the first quarter. Argyle Capital Management LLC now owns 37,203 shares of the financial services provider's stock valued at $2,987,000 after buying an additional 1,720 shares during the period. Strategic Blueprint LLC lifted its holdings in MetLife by 14.6% in the first quarter. Strategic Blueprint LLC now owns 3,508 shares of the financial services provider's stock valued at $282,000 after buying an additional 448 shares during the period. Finally, Catalyst Capital Advisors LLC lifted its holdings in MetLife by 45.2% in the first quarter. Catalyst Capital Advisors LLC now owns 1,580 shares of the financial services provider's stock valued at $127,000 after buying an additional 492 shares during the period. 94.99% of the stock is currently owned by institutional investors and hedge funds.

MetLife Stock Down 0.8%

Shares of MET stock opened at $79.50 on Friday. The firm has a fifty day moving average of $78.74 and a 200-day moving average of $80.11. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.55. MetLife, Inc. has a 12-month low of $65.21 and a 12-month high of $89.05. The company has a market capitalization of $53.37 billion, a price-to-earnings ratio of 12.93, a P/E/G ratio of 0.68 and a beta of 0.85.

MetLife (NYSE:MET - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.00 by ($0.04). MetLife had a return on equity of 20.89% and a net margin of 6.08%. The company had revenue of $18.57 billion for the quarter, compared to the consensus estimate of $18.06 billion. During the same period in the prior year, the company earned $1.83 EPS. The firm's revenue was up 15.6% on a year-over-year basis. As a group, equities research analysts predict that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.

MetLife announced that its Board of Directors has initiated a stock buyback program on Wednesday, April 30th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 5.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

MetLife Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 6th were given a dividend of $0.5675 per share. This is an increase from MetLife's previous quarterly dividend of $0.55. The ex-dividend date was Tuesday, May 6th. This represents a $2.27 annualized dividend and a dividend yield of 2.86%. MetLife's dividend payout ratio is currently 36.91%.

Wall Street Analyst Weigh In

Several brokerages have commented on MET. Wall Street Zen downgraded shares of MetLife from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Barclays lowered their target price on shares of MetLife from $95.00 to $88.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Morgan Stanley upped their target price on shares of MetLife from $94.00 to $99.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. UBS Group upped their target price on shares of MetLife from $94.00 to $98.00 and gave the company a "buy" rating in a research note on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods lowered their target price on shares of MetLife from $98.00 to $95.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $94.17.

MetLife Company Profile

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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