Federated Hermes Inc. Cuts Stock Position in MetLife, Inc. (NYSE:MET)

Federated Hermes Inc. lowered its holdings in MetLife, Inc. (NYSE:MET) by 18.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 113,305 shares of the financial services provider’s stock after selling 25,587 shares during the period. Federated Hermes Inc.’s holdings in MetLife were worth $7,493,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Livforsakringsbolaget Skandia Omsesidigt boosted its position in MetLife by 41.6% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,051 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 603 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of MetLife by 3.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 83,280 shares of the financial services provider’s stock worth $5,507,000 after acquiring an additional 2,844 shares during the period. Scissortail Wealth Management LLC bought a new position in shares of MetLife during the 4th quarter worth $303,000. Tyche Wealth Partners LLC bought a new position in shares of MetLife during the 4th quarter worth $256,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of MetLife by 15.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 272,742 shares of the financial services provider’s stock worth $18,036,000 after acquiring an additional 37,065 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

MetLife Stock Performance

NYSE:MET opened at $72.72 on Thursday. The business’s 50-day moving average price is $71.36 and its two-hundred day moving average price is $67.06. MetLife, Inc. has a twelve month low of $48.95 and a twelve month high of $74.68. The stock has a market cap of $52.58 billion, a P/E ratio of 39.74, a PEG ratio of 0.54 and a beta of 1.04. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.53.

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

MetLife Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Tuesday, May 7th will be issued a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.00%. This is a boost from MetLife’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, May 6th. MetLife’s dividend payout ratio (DPR) is currently 113.66%.

Insider Activity at MetLife

In related news, EVP Bill Pappas sold 27,000 shares of the firm’s stock in a transaction dated 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 directly owns 57,768 shares of the company’s stock, valued at approximately $4,174,893.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 stock was sold at an average price of $71.90, for a total transaction of $289,469.40. Following the transaction, the insider now directly owns 146,981 shares in the company, valued at approximately $10,567,933.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Bill Pappas sold 27,000 shares of the firm’s 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 transaction, the executive vice president now 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 insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. UBS Group cut 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. Wells Fargo & Company increased 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. The Goldman Sachs Group raised MetLife from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $70.00 to $80.00 in a report on Monday, January 8th. Keefe, Bruyette & Woods increased their price objective on MetLife from $82.00 to $87.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, Morgan Stanley increased their price objective on MetLife from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.23.

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.