MetLife, Inc. $MET Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of MetLife, Inc. (NYSE:MET) by 25.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,576,785 shares of the financial services provider’s stock after selling 1,241,561 shares during the period. Bank of New York Mellon Corp’s holdings in MetLife were worth $252,950,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of MET. Nordea Investment Management AB raised its stake in shares of MetLife by 2.6% during the 4th quarter. Nordea Investment Management AB now owns 4,630,165 shares of the financial services provider’s stock worth $366,524,000 after purchasing an additional 117,545 shares in the last quarter. AIA Group Ltd increased its holdings in MetLife by 93.5% in the third quarter. AIA Group Ltd now owns 33,714 shares of the financial services provider’s stock worth $2,777,000 after buying an additional 16,288 shares during the last quarter. Strs Ohio raised its position in MetLife by 16.6% during the fourth quarter. Strs Ohio now owns 326,091 shares of the financial services provider’s stock valued at $25,742,000 after acquiring an additional 46,469 shares in the last quarter. PFA Pension Forsikringsaktieselskab acquired a new stake in MetLife in the fourth quarter valued at approximately $81,494,000. Finally, Evergreen Capital Management LLC grew its position in MetLife by 195.8% in the fourth quarter. Evergreen Capital Management LLC now owns 33,260 shares of the financial services provider’s stock worth $2,626,000 after acquiring an additional 22,016 shares in the last quarter. 94.99% of the stock is owned by institutional investors and hedge funds.

Key Headlines 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

MetLife Price Performance

Shares of MET opened at $93.99 on Friday. The stock has a 50 day simple moving average of $85.80 and a 200 day simple moving average of $79.07. MetLife, Inc. has a 52-week low of $67.33 and a 52-week high of $94.86. 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 firm has a market capitalization of $60.48 billion, a PE ratio of 18.21, a P/E/G ratio of 0.71 and a beta of 0.78.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.15. The business had revenue of $14.18 billion for 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 in the previous year, the firm posted $1.96 earnings per share. Sell-side analysts predict that MetLife, Inc. will post 9.94 EPS for the current fiscal year.

MetLife Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Tuesday, August 4th will be given a $0.5925 dividend. The ex-dividend date is Tuesday, August 4th. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.5%. MetLife’s dividend payout ratio (DPR) is presently 45.93%.

Analyst Upgrades and Downgrades

MET has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised their price target on MetLife from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Morgan Stanley upped their price objective on shares of MetLife from $93.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Mizuho boosted their price target on MetLife from $95.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Wells Fargo & Company raised their price objective on MetLife from $95.00 to $101.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, Wall Street Zen downgraded MetLife from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $98.57.

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.