Mediolanum International Funds Ltd Sells 11,627 Shares of MetLife, Inc. $MET

Mediolanum International Funds Ltd cut its stake in shares of MetLife, Inc. (NYSE:MET) by 5.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 189,289 shares of the financial services provider’s stock after selling 11,627 shares during the quarter. Mediolanum International Funds Ltd’s holdings in MetLife were worth $12,923,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arjuna Capital lifted its holdings in MetLife by 1.1% during the first quarter. Arjuna Capital now owns 62,330 shares of the financial services provider’s stock valued at $4,408,000 after purchasing an additional 683 shares in the last quarter. Ascent Wealth Partners LLC increased its stake in shares of MetLife by 2.3% in the first quarter. Ascent Wealth Partners LLC now owns 25,627 shares of the financial services provider’s stock worth $1,812,000 after purchasing an additional 568 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of MetLife by 88.8% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,100 shares of the financial services provider’s stock valued at $149,000 after purchasing an additional 988 shares during the period. California Public Employees Retirement System raised its position in shares of MetLife by 2.4% during the 1st quarter. California Public Employees Retirement System now owns 1,063,550 shares of the financial services provider’s stock valued at $75,214,000 after purchasing an additional 24,552 shares during the period. Finally, Heartland Bank & Trust Co lifted its stake in shares of MetLife by 2.9% during the 1st quarter. Heartland Bank & Trust Co now owns 6,330 shares of the financial services provider’s stock valued at $448,000 after buying an additional 177 shares in the last quarter. 94.99% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting MetLife

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: MetLife Stadium is hosting the World Cup final, which keeps the venue in the global spotlight and may highlight the company’s high-profile asset and brand visibility. FIFA insists MetLife Stadium’s pitch is ready for the World Cup final despite criticism
• Positive Sentiment: Heavy media coverage around ticket sales, fan guides, food and drink pricing, and kickoff details suggests strong interest and traffic around the event at MetLife Stadium. How to buy tickets to see Spain in World Cup Final at MetLife
• Neutral Sentiment: News about weather, heat, storms, air quality, and wildfire smoke could affect the event experience, but it does not directly change MetLife’s earnings outlook. World Cup final could be shaped by heat, storms and air quality at MetLife Stadium
• Neutral Sentiment: FIFA’s criticism of the pitch and the “money grab” controversy may create headline risk for the venue, but the impact on MetLife’s stock is likely limited unless the issue affects operations or reputation more broadly. NJ governor slams FIFA’s money grab over sales of MetLife World Cup pitch
• Negative Sentiment: Ongoing criticism about the field quality and pitch conditions at MetLife Stadium could dent the venue’s reputation, even though it is unlikely to materially affect MetLife’s insurance business. The MetLife trap: the controversial pitch threatening the final | OneFootball

Analyst Upgrades and Downgrades

MET has been the subject of several recent analyst reports. UBS Group upped their target price on shares of MetLife from $102.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Weiss Ratings upgraded MetLife from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 15th. Barclays upped their price objective on MetLife from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Jefferies Financial Group increased their target price on MetLife from $97.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Finally, Morgan Stanley lifted their target price on MetLife from $93.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, MetLife currently has an average rating of “Moderate Buy” and an average price target of $98.57.

MetLife Stock Performance

MET opened at $93.99 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.20 and a current ratio of 0.20. The stock has a market capitalization of $60.48 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 0.72 and a beta of 0.78. The company has a fifty day moving average of $85.80 and a 200 day moving average of $79.07. MetLife, Inc. has a fifty-two week low of $67.33 and a fifty-two week high of $94.86.

MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.42 EPS for the quarter, topping the consensus estimate of $2.27 by $0.15. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The business had revenue of $14.18 billion for the quarter, compared to analysts’ expectations of $19.49 billion. During the same quarter in the previous year, the company earned $1.96 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts forecast that MetLife, Inc. will post 9.94 earnings per share for the current fiscal year.

MetLife Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 4th will be issued a $0.5925 dividend. This represents a $2.37 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 4th. MetLife’s payout ratio is 45.93%.

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.