MetLife, Inc. (NYSE:MET) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC lessened its stake in shares of MetLife, Inc. (NYSE:MET) by 1.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 55,969 shares of the financial services provider’s stock after selling 700 shares during the period. Carret Asset Management LLC’s holdings in MetLife were worth $4,148,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Marcum Wealth LLC increased its holdings in shares of MetLife by 4.7% in the 1st quarter. Marcum Wealth LLC now owns 3,436 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 153 shares in the last quarter. GoalVest Advisory LLC increased its position in MetLife by 73.3% during the first quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 165 shares during the last quarter. Great Valley Advisor Group Inc. raised its position in shares of MetLife by 1.9% in the 4th quarter. Great Valley Advisor Group Inc. now owns 8,898 shares of the financial services provider’s stock worth $588,000 after buying an additional 167 shares during the period. Austin Private Wealth LLC grew its holdings in shares of MetLife by 4.1% during the 4th quarter. Austin Private Wealth LLC now owns 4,367 shares of the financial services provider’s stock worth $289,000 after purchasing an additional 170 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its stake in MetLife by 10.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,815 shares of the financial services provider’s stock worth $135,000 after buying an additional 176 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on MET shares. JPMorgan Chase & Co. boosted their target price on shares of MetLife from $81.00 to $86.00 and gave the stock an “overweight” rating in a research report on Tuesday. Argus upped their target price on shares of MetLife from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Piper Sandler cut their price objective on shares of MetLife from $85.00 to $82.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Jefferies Financial Group cut their target price on MetLife from $88.00 to $83.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Finally, StockNews.com cut shares of MetLife from a “buy” rating to a “hold” rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, MetLife presently has an average rating of “Moderate Buy” and a consensus price target of $80.23.

MetLife Stock Performance

Shares of MetLife stock traded up $0.12 during trading on Wednesday, hitting $70.16. 2,235,842 shares of the stock were exchanged, compared to its average volume of 3,385,685. MetLife, Inc. has a 1-year low of $56.13 and a 1-year high of $74.68. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $49.89 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 0.59 and a beta of 1.11. The company has a fifty day moving average price of $71.22 and a 200-day moving average price of $70.20.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.83. The business had revenue of $17.02 billion for the quarter, compared to analyst estimates of $17.73 billion. MetLife had a return on equity of 20.39% and a net margin of 3.50%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.52 EPS. As a group, equities analysts predict that MetLife, Inc. will post 8.61 EPS for the current fiscal year.

MetLife Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 7th were issued a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date was Monday, May 6th. This is a boost from MetLife’s previous quarterly dividend of $0.52. MetLife’s payout ratio is currently 74.91%.

MetLife announced that its board has authorized a stock buyback program on Wednesday, May 1st that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

MetLife 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.