Pictet Asset Management Holding SA Sells 42,605 Shares of MetLife, Inc. $MET

Pictet Asset Management Holding SA lessened its position in shares of MetLife, Inc. (NYSE:MET) by 12.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 288,779 shares of the financial services provider’s stock after selling 42,605 shares during the quarter. Pictet Asset Management Holding SA’s holdings in MetLife were worth $20,419,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Activest Wealth Management grew its stake in shares of MetLife by 205.8% during the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 212 shares during the period. Vermillion & White Wealth Management Group LLC lifted its stake in shares of MetLife by 790.0% in the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 316 shares during the period. Garton & Associates Financial Advisors LLC purchased a new position in shares of MetLife in the fourth quarter worth approximately $30,000. Sound Income Strategies LLC boosted its holdings in shares of MetLife by 58.9% in the fourth quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock worth $29,000 after buying an additional 142 shares during the last quarter. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in MetLife during the fourth quarter valued at approximately $31,000. Institutional investors own 94.99% of the company’s stock.

MetLife Stock Up 3.0%

Shares of MET opened at $87.17 on Thursday. The firm has a fifty day moving average price of $82.60 and a 200-day moving average price of $78.20. 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 firm has a market capitalization of $56.09 billion, a P/E ratio of 16.89, a P/E/G ratio of 0.63 and a beta of 0.78. MetLife, Inc. has a 12-month low of $67.33 and a 12-month high of $89.62.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.15. The company 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 firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $1.96 EPS. Equities research analysts expect that MetLife, Inc. will post 10 earnings per share for the current year.

MetLife Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 12th were issued a $0.5925 dividend. The ex-dividend date was Tuesday, May 12th. This is a positive change from MetLife’s previous quarterly dividend of $0.57. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.7%. MetLife’s dividend payout ratio (DPR) is presently 45.93%.

Key Stories Impacting MetLife

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: MetLife is being highlighted by market commentators as one of the best value stocks to buy right now, reinforcing investor interest in the company’s attractive valuation and income profile. Here is Why MetLife (MET) is One of the Best Value Stocks to Buy Right Now
• Positive Sentiment: MetLife recently launched the Non-Qualified Assignment Flex Agreement, a new funding solution that gives customers more flexible settlement options for non-physical injury claims, which could support business growth in its structured settlement-related offerings. Here is Why MetLife (MET) is One of the Best Value Stocks to Buy Right Now
• Neutral Sentiment: Several articles centered on World Cup matches and fan activity at MetLife Stadium, including ticket sales, match previews, and travel/parking coverage. These stories are more about the venue than MetLife, Inc.’s core insurance operations, so they are not likely to have a meaningful impact on MET shares.
• Negative Sentiment: There was also some attention on turf and weather concerns at MetLife Stadium during World Cup coverage, but this appears tied to stadium operations rather than the insurer’s fundamentals and should have limited direct impact on the stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MET. Keefe, Bruyette & Woods increased their price target on shares of MetLife from $87.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Morgan Stanley boosted their price objective on shares of MetLife from $89.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. TD Cowen decreased their target price on MetLife from $91.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Piper Sandler lifted their target price on MetLife from $86.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, June 24th. Finally, Weiss Ratings raised MetLife from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, MetLife has a consensus rating of “Moderate Buy” and a consensus price target of $95.62.

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.