Convergence Investment Partners LLC decreased its stake in shares of MetLife, Inc. (NYSE:MET – Free Report) by 34.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,246 shares of the financial services provider’s stock after selling 10,512 shares during the period. Convergence Investment Partners LLC’s holdings in MetLife were worth $1,432,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in MET. Commonwealth Retirement Investments LLC increased its stake in MetLife by 0.5% during the fourth quarter. Commonwealth Retirement Investments LLC now owns 26,953 shares of the financial services provider’s stock worth $2,128,000 after acquiring an additional 131 shares during the last quarter. CreativeOne Wealth LLC increased its position in MetLife by 1.3% during the 4th quarter. CreativeOne Wealth LLC now owns 10,156 shares of the financial services provider’s stock worth $802,000 after purchasing an additional 135 shares in the last quarter. Kathmere Capital Management LLC raised its holdings in MetLife by 2.4% in the first quarter. Kathmere Capital Management LLC now owns 5,813 shares of the financial services provider’s stock valued at $411,000 after buying an additional 136 shares during the period. Trust Co. of Toledo NA OH lifted its position in MetLife by 0.5% during the fourth quarter. Trust Co. of Toledo NA OH now owns 30,431 shares of the financial services provider’s stock valued at $2,402,000 after buying an additional 138 shares in the last quarter. Finally, Bridgewater Advisors Inc. grew its stake in MetLife by 3.5% during the fourth quarter. Bridgewater Advisors Inc. now owns 4,113 shares of the financial services provider’s stock worth $315,000 after buying an additional 140 shares during the period. Institutional investors and hedge funds own 94.99% of the company’s stock.
Trending Headlines about MetLife
Here are the key news stories impacting MetLife this week:
- Positive Sentiment: JPMorgan raised its price target on MetLife to $106 from $96 and reiterated an overweight rating, signaling confidence in further share price upside. Benzinga article
- Positive Sentiment: Analysts expect MetLife’s upcoming second-quarter results to show double-digit earnings growth, which could support the stock if results meet or beat expectations. Barchart article
- Neutral Sentiment: Several World Cup and MetLife Stadium headlines kept the MetLife name in the spotlight, but these stories appear tied to the venue rather than MetLife, Inc.’s insurance operations. New York Times article
MetLife Trading Up 0.3%
MetLife (NYSE:MET – Get Free Report) last released its quarterly earnings results 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. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The business had revenue of $14.18 billion during the quarter, compared to analyst estimates of $19.49 billion. During the same period last year, the business earned $1.96 EPS. The business’s revenue was up 2.7% on a year-over-year basis. Equities research analysts predict that MetLife, Inc. will post 9.94 EPS for the current fiscal year.
MetLife Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 4th will be given a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 4th. MetLife’s payout ratio is presently 45.93%.
Analyst Ratings Changes
MET has been the topic of a number of research reports. Morgan Stanley raised their target price on shares of MetLife from $93.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Bank of America lowered their price target on MetLife from $103.00 to $99.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. UBS Group raised their price objective on MetLife from $102.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Mizuho boosted their price objective on MetLife from $95.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Finally, Evercore set a $96.00 target price on MetLife in a research report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $99.29.
Get Our Latest Stock Report on MET
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.
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