Perkins Coie Trust Co Sells 201 Shares of MetLife, Inc. (NYSE:MET)

Perkins Coie Trust Co lessened its holdings in shares of MetLife, Inc. (NYSE:METFree Report) by 0.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,220 shares of the financial services provider’s stock after selling 201 shares during the quarter. Perkins Coie Trust Co’s holdings in MetLife were worth $3,796,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MET. FMR LLC boosted its position in MetLife by 54.1% during the third quarter. FMR LLC now owns 2,126,683 shares of the financial services provider’s stock worth $133,790,000 after purchasing an additional 746,643 shares during the period. Pearl River Capital LLC purchased a new stake in shares of MetLife in the third quarter worth about $244,000. V Square Quantitative Management LLC lifted its holdings in shares of MetLife by 1,279.7% in the third quarter. V Square Quantitative Management LLC now owns 3,187 shares of the financial services provider’s stock worth $200,000 after buying an additional 2,956 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of MetLife by 50.0% in the third quarter. Acadian Asset Management LLC now owns 8,856 shares of the financial services provider’s stock worth $557,000 after buying an additional 2,952 shares in the last quarter. Finally, LPL Financial LLC lifted its holdings in shares of MetLife by 13.5% in the third quarter. LPL Financial LLC now owns 707,885 shares of the financial services provider’s stock worth $44,533,000 after buying an additional 84,061 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

MetLife Trading Up 1.2 %

Shares of MetLife stock traded up $0.85 on Monday, hitting $72.12. The stock had a trading volume of 2,742,973 shares, compared to its average volume of 3,385,530. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. MetLife, Inc. has a one year low of $53.04 and a one year high of $74.68. The stock has a market cap of $51.29 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 0.59 and a beta of 1.12. The stock’s 50-day simple moving average is $71.21 and its two-hundred day simple moving average is $69.99.

MetLife (NYSE:METGet Free Report) last issued its earnings results on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.83. MetLife had a net margin of 3.50% and a return on equity of 20.39%. The firm had revenue of $17.02 billion for the quarter, compared to analysts’ expectations of $17.73 billion. During the same quarter last year, the business earned $1.52 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts predict that MetLife, Inc. will post 8.62 EPS for the current year.

MetLife Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, May 7th were issued a $0.545 dividend. The ex-dividend date of this dividend was Monday, May 6th. This represents a $2.18 annualized dividend and a yield of 3.02%. This is a boost from MetLife’s previous quarterly dividend of $0.52. MetLife’s payout ratio is 74.91%.

MetLife declared that its Board of Directors has approved a stock repurchase plan on Wednesday, May 1st that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Argus increased their price target on shares of MetLife from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Morgan Stanley raised their target price on shares of MetLife from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a research note on Tuesday, June 18th. Piper Sandler lowered their target price 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. Finally, Wells Fargo & Company lowered their target price on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.08.

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MetLife Profile

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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.

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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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