Evolve Private Wealth LLC Decreases Stake in MetLife, Inc. $MET

Evolve Private Wealth LLC lessened its holdings in shares of MetLife, Inc. (NYSE:MET) by 83.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,870 shares of the financial services provider’s stock after selling 33,428 shares during the quarter. Evolve Private Wealth LLC’s holdings in MetLife were worth $486,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in MetLife during the fourth quarter worth approximately $639,986,000. Vanguard Group Inc. raised its stake in shares of MetLife by 12.1% in the 4th quarter. Vanguard Group Inc. now owns 72,555,335 shares of the financial services provider’s stock valued at $5,727,518,000 after acquiring an additional 7,805,814 shares during the period. Pzena Investment Management LLC lifted its holdings in shares of MetLife by 22.9% during the 4th quarter. Pzena Investment Management LLC now owns 11,883,338 shares of the financial services provider’s stock valued at $938,071,000 after acquiring an additional 2,211,315 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of MetLife by 105.3% during the 3rd quarter. AQR Capital Management LLC now owns 3,305,620 shares of the financial services provider’s stock valued at $271,424,000 after acquiring an additional 1,695,563 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in MetLife by 173.4% during the 3rd quarter. First Trust Advisors LP now owns 1,641,253 shares of the financial services provider’s stock worth $135,190,000 after purchasing an additional 1,040,894 shares during the period. 94.99% of the stock is owned by institutional investors and hedge funds.

MetLife Stock Performance

MetLife stock opened at $84.51 on Friday. MetLife, Inc. has a 52 week low of $67.33 and a 52 week high of $89.62. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.53. The stock has a market cap of $54.38 billion, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 0.63 and a beta of 0.78. The stock has a 50 day moving average of $81.93 and a 200-day moving average of $78.02.

MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.15. The business had revenue of $14.18 billion during 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%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.96 earnings per share. On average, analysts expect that MetLife, Inc. will post 9.98 EPS for the current fiscal year.

MetLife Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 12th were issued a dividend of $0.5925 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.37 annualized dividend and a yield of 2.8%. This is an increase from MetLife’s previous quarterly dividend of $0.57. MetLife’s dividend payout ratio (DPR) is 45.93%.

MetLife News Summary

Here are the key news stories impacting MetLife this week:

• Negative Sentiment: World Cup coverage has highlighted complaints from players about the turf at MetLife Stadium, with some praising other venues and “trashing MetLife,” reinforcing criticism of the stadium’s field conditions. World Cup players split on turf, praising SoFi while trashing MetLife
• Negative Sentiment: Additional reports said NFL players blasted the MetLife turf, keeping the criticism of the stadium in the spotlight and potentially weighing on brand perception. NFL players blast MetLife turf as World Cup grass fuels debate
• Neutral Sentiment: There were also upbeat event-related headlines, including fans packing MetLife Stadium for World Cup matches and excitement around high-profile games, which supports strong attendance and traffic but does not directly change MetLife’s fundamentals. Ecuador, Germany fans pack MetLife for World Cup group match
• Neutral Sentiment: MetLife also had corporate visibility from a new study on resilience and confidence, plus coverage of its broader “confident futures” initiative, but these are mainly brand/PR updates rather than clear near-term stock movers. New MetLife Study Reveals a 72% “Confidence Gap” in Ability to Recover from Life’s Setbacks
• Neutral Sentiment: Reports about ticket prices, offsite tailgates, weather delays, and player arrivals at MetLife Stadium are mostly event noise and do not materially affect the insurer’s core business. What do tickets cost for the England vs. Panama World Cup match at MetLife?

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MET shares. TD Cowen cut their price objective on MetLife from $91.00 to $88.00 and set a “buy” rating on the stock in a research report on Wednesday, March 11th. JPMorgan Chase & Co. upped their target price on MetLife from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Piper Sandler increased their target price on MetLife from $86.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday. Evercore set a $96.00 target price on MetLife in a report on Thursday, April 9th. Finally, Weiss Ratings raised MetLife from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 15th. 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $95.62.

About MetLife

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.