KBC Group NV Cuts Stake in MetLife, Inc. $MET

KBC Group NV lessened its holdings in shares of MetLife, Inc. (NYSE:MET) by 4.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,355,024 shares of the financial services provider’s stock after selling 65,545 shares during the quarter. KBC Group NV’s holdings in MetLife were worth $95,828,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in MET. SEB Asset Management AB purchased a new stake in MetLife during the 1st quarter valued at approximately $45,033,000. Swiss National Bank lifted its holdings in shares of MetLife by 6.1% in the first quarter. Swiss National Bank now owns 1,643,600 shares of the financial services provider’s stock worth $116,235,000 after buying an additional 94,500 shares in the last quarter. Valley Wealth Managers Inc. boosted its position in shares of MetLife by 4.6% during the first quarter. Valley Wealth Managers Inc. now owns 314,184 shares of the financial services provider’s stock worth $22,219,000 after acquiring an additional 13,904 shares during the last quarter. AIA Group Ltd grew its stake in MetLife by 150.0% during the first quarter. AIA Group Ltd now owns 191,638 shares of the financial services provider’s stock valued at $13,553,000 after acquiring an additional 114,997 shares in the last quarter. Finally, Arjuna Capital grew its stake 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 acquiring an additional 683 shares in the last quarter. 94.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of MetLife from $98.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Jefferies Financial Group boosted 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. Bank of America dropped their price target on MetLife from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Atlantic Securities set a $103.00 price target on MetLife in a report on Wednesday. Finally, Piper Sandler lifted their price objective on MetLife from $86.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, MetLife has an average rating of “Moderate Buy” and an average target price of $98.57.

MetLife Stock Performance

Shares of NYSE:MET opened at $93.99 on Monday. MetLife, Inc. has a 52 week low of $67.33 and a 52 week high of $94.86. The stock has a market capitalization of $60.48 billion, a P/E ratio of 18.21, a PEG ratio of 0.72 and a beta of 0.78. The firm has a fifty day simple moving average of $85.80 and a two-hundred day simple moving average of $79.07. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.53.

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

MetLife Announces Dividend

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

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 Company 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.