MetLife, Inc. $MET Shares Sold by Pitcairn Co.

Pitcairn Co. trimmed its position in shares of MetLife, Inc. (NYSE:MET) by 30.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,189 shares of the financial services provider’s stock after selling 7,432 shares during the quarter. Pitcairn Co.’s holdings in MetLife were worth $1,382,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of MET. Allworth Financial LP lifted its holdings in MetLife by 13.4% in the second quarter. Allworth Financial LP now owns 10,893 shares of the financial services provider’s stock valued at $876,000 after acquiring an additional 1,285 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of MetLife by 188.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 417,515 shares of the financial services provider’s stock valued at $33,577,000 after purchasing an additional 272,619 shares in the last quarter. Kathmere Capital Management LLC increased its holdings in shares of MetLife by 88.2% in the 2nd quarter. Kathmere Capital Management LLC now owns 6,328 shares of the financial services provider’s stock valued at $509,000 after purchasing an additional 2,965 shares in the last quarter. McElhenny Sheffield Capital Management LLC acquired a new stake in shares of MetLife in the second quarter valued at about $1,608,000. Finally, Zurich Insurance Group Ltd FI purchased a new stake in MetLife during the first quarter worth about $12,060,000. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Price Performance

Shares of NYSE:MET opened at $82.08 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.18 and a current ratio of 0.18. The business’s fifty day moving average price is $78.47 and its two-hundred day moving average price is $78.76. The stock has a market cap of $54.08 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 0.79 and a beta of 0.76. MetLife, Inc. has a one year low of $65.21 and a one year high of $88.09.

MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.07. The business had revenue of $12.46 billion for the quarter, compared to the consensus estimate of $18.64 billion. MetLife had a return on equity of 21.00% and a net margin of 5.30%.The business’s revenue was down 5.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.95 earnings per share. On average, analysts forecast that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 4th were paid a dividend of $0.5675 per share. This represents a $2.27 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, November 4th. MetLife’s dividend payout ratio (DPR) is currently 42.75%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MET shares. Wolfe Research raised shares of MetLife to a “strong-buy” rating in a report on Tuesday, September 16th. UBS Group lowered their price target on MetLife from $96.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Cowen reaffirmed a “buy” rating on shares of MetLife in a report on Friday, August 22nd. Piper Sandler lowered MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 target price on the stock. in a report on Friday, September 19th. Finally, Keefe, Bruyette & Woods dropped their price target on MetLife from $92.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, MetLife presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.60.

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.