Catalyst Financial Partners LLC Sells 777 Shares of MetLife, Inc. (NYSE:MET)

Catalyst Financial Partners LLC trimmed its stake in MetLife, Inc. (NYSE:MET) by 16.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,839 shares of the financial services provider’s stock after selling 777 shares during the period. Catalyst Financial Partners LLC’s holdings in MetLife were worth $254,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MET. Criterion Capital Advisors LLC bought a new stake in shares of MetLife during the 4th quarter worth $26,000. Quintet Private Bank Europe S.A. bought a new position in MetLife in the 3rd quarter worth approximately $28,000. Planned Solutions Inc. acquired a new position in shares of MetLife during the fourth quarter worth approximately $28,000. Tennessee Valley Asset Management Partners bought a new stake in shares of MetLife in the fourth quarter valued at approximately $34,000. Finally, Headlands Technologies LLC bought a new position in MetLife during the third quarter worth $36,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

MetLife Price Performance

MET stock traded up $0.40 during midday trading on Wednesday, reaching $71.66. 2,549,530 shares of the company’s stock traded hands, compared to its average volume of 3,542,523. The company has a 50-day simple moving average of $71.76 and a two-hundred day simple moving average of $67.65. 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 1-year low of $48.95 and a 1-year high of $74.68. The company has a market cap of $50.96 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 0.56 and a beta of 1.03.

MetLife (NYSE:MET) last announced its earnings results on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.83. The company had revenue of $17.02 billion during the quarter, compared to analyst estimates of $17.73 billion. MetLife had a return on equity of 20.39% and a net margin of 3.50%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company posted $1.52 earnings per share. On average, analysts anticipate that MetLife, Inc. will post 8.69 earnings per share for the current year.

MetLife declared that its board has initiated a stock buyback program on Wednesday, May 1st that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

MetLife Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 7th will be given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.04%. This is a positive change from MetLife’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, May 6th. MetLife’s dividend payout ratio is presently 71.48%.

Insider Activity at MetLife

In other MetLife news, EVP Bill Pappas sold 27,000 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $72.27, for a total transaction of $1,951,290.00. Following the transaction, the executive vice president now owns 57,768 shares of the company’s stock, valued at approximately $4,174,893.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Ramy Tadros sold 4,026 shares of MetLife stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $71.90, for a total transaction of $289,469.40. Following the completion of the sale, the insider now owns 146,981 shares in the company, valued at approximately $10,567,933.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction, 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. 0.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on MET. Morgan Stanley raised their price target on shares of MetLife from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Wells Fargo & Company lifted their price target on shares of MetLife from $83.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. UBS Group dropped their price objective on shares of MetLife from $87.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, February 5th. Piper Sandler decreased their target price on shares of MetLife from $85.00 to $82.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $78.92.

MetLife 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.