MetLife, Inc. $MET Shares Sold by Candriam S.C.A.

Candriam S.C.A. lowered its position in MetLife, Inc. (NYSE:MET) by 36.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,742 shares of the financial services provider’s stock after selling 44,938 shares during the period. Candriam S.C.A.’s holdings in MetLife were worth $7,536,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MET. Nvwm LLC lifted its holdings in MetLife by 655.3% during the third quarter. Nvwm LLC now owns 287 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 249 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new position in MetLife in the second quarter valued at about $26,000. Burk Holdings LLC acquired a new position in MetLife in the second quarter valued at about $27,000. Highland Investment Advisors LLC bought a new stake in shares of MetLife in the second quarter worth about $30,000. Finally, Elevation Wealth Partners LLC increased its holdings in shares of MetLife by 123.5% in the third quarter. Elevation Wealth Partners LLC now owns 362 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 94.99% of the company’s stock.

MetLife Price Performance

Shares of NYSE MET opened at $101.80 on Tuesday. The firm has a market cap of $65.50 billion, a PE ratio of 13.27, a PEG ratio of 0.97 and a beta of 0.79. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.52. MetLife, Inc. has a 1-year low of $67.33 and a 1-year high of $106.72. The company has a fifty day moving average price of $98.26 and a 200 day moving average price of $86.39.

MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.01. The firm had revenue of $20.52 billion for the quarter, compared to the consensus estimate of $19.86 billion. MetLife had a return on equity of 24.45% and a net margin of 6.21%. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter last year, the business posted $2.34 EPS. Research analysts predict that MetLife, Inc. will post 9.93 earnings per share for the current fiscal year.

MetLife announced that its board has initiated a share buyback plan on Wednesday, August 5th that allows the company to buy back $3 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 4.8% of its shares through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

MetLife Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Tuesday, November 3rd will be paid a $0.5925 dividend. The ex-dividend date is Tuesday, November 3rd. This represents a $2.37 annualized dividend and a yield of 2.3%. MetLife’s payout ratio is presently 30.90%.

Analysts Set New Price Targets

A number of research firms have recently commented on MET. Morgan Stanley raised their price target on MetLife from $103.00 to $111.00 and gave the stock an “overweight” rating in a research report on Monday, August 24th. Jefferies Financial Group boosted their price objective on MetLife from $103.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Bank of America lowered their target price on MetLife from $106.00 to $103.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Atlantic Securities set a $103.00 target price on MetLife in a research note on Wednesday, July 15th. Finally, UBS Group raised their target price on shares of MetLife from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, October 6th. Fourteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $106.62.

MetLife Profile

MetLife, Inc is a global financial services company best known for providing insurance, employee benefits and retirement-related products. Its offerings include life, dental and disability insurance, annuities, and products and services designed to help individuals and employers plan for financial protection and retirement.

The company serves individuals, businesses and institutions in the United States and international markets, including countries in Latin America, Asia, Europe and the Middle East.