Carret Asset Management LLC Sells 390 Shares of MetLife, Inc. (NYSE:MET)

Carret Asset Management LLC lessened its holdings in shares of MetLife, Inc. (NYSE:MET) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 56,669 shares of the financial services provider’s stock after selling 390 shares during the period. Carret Asset Management LLC’s holdings in MetLife were worth $3,748,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Criterion Capital Advisors LLC bought a new stake in shares of MetLife in the 4th quarter worth $26,000. Planned Solutions Inc. bought a new stake in shares of MetLife in the 4th quarter worth $28,000. Quintet Private Bank Europe S.A. bought a new stake in shares of MetLife in the 3rd quarter worth $28,000. Tennessee Valley Asset Management Partners bought a new stake in shares of MetLife in the 4th quarter worth $34,000. Finally, Headlands Technologies LLC bought a new stake in shares of MetLife in the 3rd quarter worth $36,000. Institutional investors own 89.81% of the company’s stock.

Insider Transactions at MetLife

In related news, EVP Bill Pappas sold 27,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $72.27, for a total value of $1,951,290.00. Following the sale, the executive vice president now directly owns 57,768 shares of the company’s stock, valued at $4,174,893.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Ramy Tadros sold 4,026 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $71.90, for a total value of $289,469.40. Following the sale, the insider now directly owns 146,981 shares of the company’s stock, valued at $10,567,933.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bill Pappas sold 27,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $72.27, for a total transaction of $1,951,290.00. Following the completion of the sale, the executive vice president now directly owns 57,768 shares in the company, valued at $4,174,893.36. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

MetLife Price Performance

Shares of MetLife stock traded up $0.50 on Wednesday, reaching $72.72. The stock had a trading volume of 2,060,451 shares, compared to its average volume of 3,514,421. MetLife, Inc. has a 1 year low of $48.95 and a 1 year high of $74.68. The company has a market cap of $52.58 billion, a P/E ratio of 39.74, a price-to-earnings-growth ratio of 0.54 and a beta of 1.04. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average is $71.28 and its two-hundred day moving average is $67.02.

MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $1.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.02). MetLife had a return on equity of 19.48% and a net margin of 2.36%. The firm had revenue of $18.72 billion during the quarter, compared to analysts’ expectations of $18.07 billion. As a group, research analysts anticipate that MetLife, Inc. will post 8.71 EPS for the current year.

MetLife Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 7th will be issued a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.00%. This is an increase from MetLife’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, May 6th. MetLife’s dividend payout ratio is presently 113.66%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MET. Keefe, Bruyette & Woods upped their target price on shares of MetLife from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. The Goldman Sachs Group upgraded shares of MetLife from a “neutral” rating to a “buy” rating and increased their price target for the company from $70.00 to $80.00 in a research report on Monday, January 8th. Piper Sandler increased their price target on shares of MetLife from $74.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. UBS Group reduced their price target on shares of MetLife from $87.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, February 5th. Finally, Wells Fargo & Company increased their price target on shares of MetLife from $83.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, MetLife presently has a consensus rating of “Moderate Buy” and an average price target of $79.23.

MetLife Company Profile

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.