SVB Wealth LLC Trims Holdings in MetLife, Inc. (NYSE:MET)

SVB Wealth LLC trimmed its holdings in shares of MetLife, Inc. (NYSE:MET) by 4.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,865 shares of the financial services provider’s stock after selling 445 shares during the period. SVB Wealth LLC’s holdings in MetLife were worth $652,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FWL Investment Management LLC purchased a new position in MetLife during the fourth quarter worth about $26,000. Quintet Private Bank Europe S.A. purchased a new position in MetLife during the third quarter worth about $28,000. Planned Solutions Inc. purchased a new position in MetLife during the fourth quarter worth about $28,000. Eagle Bay Advisors LLC bought a new stake in MetLife during the second quarter worth about $28,000. Finally, Studio Investment Management LLC bought a new stake in MetLife during the fourth quarter worth about $29,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at MetLife

In other news, EVP Bill Pappas sold 27,000 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was 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 of the company’s stock, valued at approximately $4,174,893.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Ramy Tadros sold 4,026 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Bill Pappas sold 27,000 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was 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 directly owns 57,768 shares of the company’s stock, valued at approximately $4,174,893.36. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MET shares. The Goldman Sachs Group raised MetLife from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $70.00 to $80.00 in a research note on Monday, January 8th. UBS Group dropped their price target on MetLife from $87.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, February 5th. Morgan Stanley lifted their price target on MetLife from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Wells Fargo & Company lifted their price target on MetLife from $83.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Piper Sandler boosted their target price on MetLife from $74.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, MetLife presently has an average rating of “Moderate Buy” and an average price target of $79.23.

MetLife Stock Up 1.7 %

Shares of NYSE:MET opened at $71.11 on Friday. The stock’s 50-day moving average is $71.12 and its 200 day moving average is $66.77. The company has a market cap of $51.41 billion, a PE ratio of 38.86, a P/E/G ratio of 0.53 and a beta of 1.04. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.16 and a quick ratio of 0.16. MetLife, Inc. has a 1 year low of $48.95 and a 1 year high of $74.68.

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

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.