Envestnet Asset Management Inc. Sells 986,211 Shares of MetLife, Inc. (NYSE:MET)

Envestnet Asset Management Inc. lessened its stake in shares of MetLife, Inc. (NYSE:METFree Report) by 26.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,738,594 shares of the financial services provider’s stock after selling 986,211 shares during the period. Envestnet Asset Management Inc. owned 0.37% of MetLife worth $181,103,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MET. Norges Bank bought a new position in shares of MetLife during the 4th quarter valued at about $558,460,000. Pzena Investment Management LLC boosted its holdings in shares of MetLife by 118.1% during the 3rd quarter. Pzena Investment Management LLC now owns 10,108,992 shares of the financial services provider’s stock valued at $635,957,000 after purchasing an additional 5,474,449 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of MetLife by 806.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,607,195 shares of the financial services provider’s stock valued at $100,152,000 after purchasing an additional 1,429,840 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of MetLife during the 4th quarter valued at about $52,752,000. Finally, FMR LLC boosted its holdings in shares of MetLife by 54.1% during the 3rd quarter. FMR LLC now owns 2,126,683 shares of the financial services provider’s stock valued at $133,790,000 after purchasing an additional 746,643 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on MET shares. StockNews.com downgraded shares of MetLife from a “buy” rating to a “hold” rating in a report on Saturday, May 11th. Wells Fargo & Company lowered their price target on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Morgan Stanley increased their price target on shares of MetLife from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Piper Sandler lowered their price target on shares of MetLife from $85.00 to $82.00 and set an “overweight” rating for the company in a report on Monday, May 6th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of MetLife from $87.00 to $86.00 and set an “outperform” rating for the company in a report on Tuesday, May 7th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, MetLife currently has an average rating of “Moderate Buy” and a consensus target price of $79.08.

View Our Latest Analysis on MET

Insider Buying and Selling at MetLife

In other MetLife news, insider Ramy Tadros sold 4,026 shares of the company’s stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other MetLife news, EVP Bill Pappas sold 27,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 57,768 shares in the company, valued at $4,174,893.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ramy Tadros sold 4,026 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total transaction of $289,469.40. Following the completion of the transaction, the insider now owns 146,981 shares of the company’s stock, valued at approximately $10,567,933.90. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

MetLife Price Performance

Shares of MET opened at $70.05 on Friday. The firm has a market capitalization of $49.81 billion, a PE ratio of 24.08, a price-to-earnings-growth ratio of 0.59 and a beta of 1.12. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. MetLife, Inc. has a 1-year low of $52.97 and a 1-year high of $74.68. The company’s fifty day moving average price is $71.76 and its 200-day moving average price is $69.41.

MetLife (NYSE:METGet Free Report) last announced its quarterly earnings data 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 firm had revenue of $17.02 billion for the quarter, compared to analyst estimates of $17.73 billion. MetLife had a net margin of 3.50% and a return on equity of 20.39%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.52 earnings per share. On average, equities research analysts predict that MetLife, Inc. will post 8.62 EPS for the current year.

MetLife Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 7th will be issued a dividend of $0.545 per share. The ex-dividend date is Monday, May 6th. This is a positive change from MetLife’s previous quarterly dividend of $0.52. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.11%. MetLife’s payout ratio is 74.91%.

MetLife declared that its Board of Directors has authorized a share repurchase program on Wednesday, May 1st that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

MetLife Profile

(Free Report)

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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