Truist Financial Corp Has $113.44 Million Stake in MetLife, Inc. (NYSE:MET)

Truist Financial Corp lowered its position in MetLife, Inc. (NYSE:MET - Free Report) by 11.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,715,392 shares of the financial services provider's stock after selling 220,911 shares during the quarter. Truist Financial Corp owned 0.23% of MetLife worth $113,439,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in MET. Criterion Capital Advisors LLC purchased a new stake in MetLife during the 4th quarter worth about $26,000. Quintet Private Bank Europe S.A. acquired a new stake in MetLife in the 3rd quarter worth about $28,000. Planned Solutions Inc. acquired a new stake in MetLife in the 4th quarter worth about $28,000. Tennessee Valley Asset Management Partners acquired a new stake in MetLife in the 4th quarter worth about $34,000. Finally, Headlands Technologies LLC acquired a new stake in MetLife in the 3rd quarter worth about $36,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

MetLife Stock Down 2.1 %

MetLife stock traded down $1.48 during midday trading on Friday, hitting $70.42. 5,650,572 shares of the company were exchanged, compared to its average volume of 2,506,510. The company's fifty day moving average price is $71.44 and its 200-day moving average price is $67.19. The company has a market cap of $50.92 billion, a PE ratio of 38.48, a price-to-earnings-growth ratio of 0.54 and a beta of 1.04. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.16 and a quick ratio of 0.16. MetLife, Inc. has a fifty-two week low of $48.95 and a fifty-two week high of $74.68.

MetLife (NYSE:MET - Get Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $1.93 EPS for the quarter, missing analysts' consensus estimates of $1.95 by ($0.02). The company had revenue of $18.72 billion for the quarter, compared to the consensus estimate of $18.07 billion. MetLife had a return on equity of 19.48% and a net margin of 2.36%. On average, research analysts predict that MetLife, Inc. will post 8.71 EPS for the current fiscal year.

MetLife Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Tuesday, May 7th will be paid a dividend of $0.545 per share. This is an increase from MetLife's previous quarterly dividend of $0.52. This represents a $2.18 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Monday, May 6th. MetLife's dividend payout ratio is presently 113.66%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. The Goldman Sachs Group raised MetLife from a "neutral" rating to a "buy" rating and raised their price target for the stock from $70.00 to $80.00 in a research note on Monday, January 8th. UBS Group reduced their price objective on MetLife from $87.00 to $82.00 and set a "buy" rating on the stock in a research note on Monday, February 5th. Piper Sandler lifted their price objective on MetLife from $74.00 to $85.00 and gave the company an "overweight" rating in a research note on Friday, April 5th. Keefe, Bruyette & Woods lifted their price objective on MetLife from $82.00 to $87.00 and gave the company an "outperform" rating in a research note on Wednesday, April 10th. Finally, Morgan Stanley lifted their price objective on MetLife from $80.00 to $82.00 and gave the company an "overweight" rating in a research note on Monday, April 15th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, MetLife presently has a consensus rating of "Moderate Buy" and an average price target of $79.23.

Insiders Place Their Bets

In other MetLife news, insider Ramy Tadros sold 4,026 shares of the business's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total transaction of $289,469.40. Following the completion of the transaction, the insider now owns 146,981 shares in the company, valued at approximately $10,567,933.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Bill Pappas sold 27,000 shares of the company's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $72.27, for a total value of $1,951,290.00. Following the completion of the sale, the executive vice president now owns 57,768 shares in the company, valued at $4,174,893.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ramy Tadros sold 4,026 shares of the company's stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $71.90, for a total value of $289,469.40. Following the completion of the sale, the insider now owns 146,981 shares of the company's stock, valued at approximately $10,567,933.90. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.

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.