Valley Wealth Managers Inc. Increases Position in MetLife, Inc. $MET

Valley Wealth Managers Inc. increased its position in shares of MetLife, Inc. (NYSE:MET) by 4.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 314,184 shares of the financial services provider’s stock after acquiring an additional 13,904 shares during the quarter. Valley Wealth Managers Inc.’s holdings in MetLife were worth $22,219,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of MetLife during the 4th quarter worth $639,986,000. Vanguard Group Inc. increased its stake in MetLife by 12.1% in the fourth quarter. Vanguard Group Inc. now owns 72,555,335 shares of the financial services provider’s stock valued at $5,727,518,000 after purchasing an additional 7,805,814 shares during the last quarter. Pzena Investment Management LLC lifted its position in MetLife by 22.9% during the fourth quarter. Pzena Investment Management LLC now owns 11,883,338 shares of the financial services provider’s stock worth $938,071,000 after buying an additional 2,211,315 shares during the period. AQR Capital Management LLC lifted its position in MetLife by 105.3% during the third quarter. AQR Capital Management LLC now owns 3,305,620 shares of the financial services provider’s stock worth $271,424,000 after buying an additional 1,695,563 shares during the period. Finally, Man Group plc boosted its stake in MetLife by 325.5% in the 2nd quarter. Man Group plc now owns 1,344,551 shares of the financial services provider’s stock worth $108,129,000 after buying an additional 1,028,554 shares during the last quarter. 94.99% of the stock is currently owned by institutional investors and hedge funds.

MetLife Trading Up 0.3%

Shares of MET stock opened at $93.99 on Friday. The stock has a market cap of $60.48 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 0.72 and a beta of 0.78. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.53. MetLife, Inc. has a fifty-two week low of $67.33 and a fifty-two week high of $94.86. The firm’s 50 day moving average price is $85.80 and its two-hundred day moving average price is $79.07.

MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.15. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The company had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $19.49 billion. During the same period in the previous year, the firm earned $1.96 earnings per share. MetLife’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts anticipate that MetLife, Inc. will post 9.94 EPS for the current year.

MetLife Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Tuesday, August 4th will be issued a $0.5925 dividend. This represents a $2.37 annualized dividend and a yield of 2.5%. The ex-dividend date is Tuesday, August 4th. MetLife’s dividend payout ratio is currently 45.93%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Atlantic Securities set a $103.00 price target on shares of MetLife in a research report on Wednesday. Jefferies Financial Group lifted their price target on shares of MetLife from $97.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 10th. Piper Sandler boosted their price objective on shares of MetLife from $86.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. Weiss Ratings raised MetLife from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 15th. Finally, Bank of America reduced their target price on MetLife from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, MetLife has a consensus rating of “Moderate Buy” and a consensus target price of $98.57.

More MetLife News

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: MetLife Stadium is hosting the World Cup final, which keeps the venue in the global spotlight and may highlight the company’s high-profile asset and brand visibility. FIFA insists MetLife Stadium’s pitch is ready for the World Cup final despite criticism
• Positive Sentiment: Heavy media coverage around ticket sales, fan guides, food and drink pricing, and kickoff details suggests strong interest and traffic around the event at MetLife Stadium. How to buy tickets to see Spain in World Cup Final at MetLife
• Neutral Sentiment: News about weather, heat, storms, air quality, and wildfire smoke could affect the event experience, but it does not directly change MetLife’s earnings outlook. World Cup final could be shaped by heat, storms and air quality at MetLife Stadium
• Neutral Sentiment: FIFA’s criticism of the pitch and the “money grab” controversy may create headline risk for the venue, but the impact on MetLife’s stock is likely limited unless the issue affects operations or reputation more broadly. NJ governor slams FIFA’s money grab over sales of MetLife World Cup pitch
• Negative Sentiment: Ongoing criticism about the field quality and pitch conditions at MetLife Stadium could dent the venue’s reputation, even though it is unlikely to materially affect MetLife’s insurance business. The MetLife trap: the controversial pitch threatening the final | OneFootball

MetLife Company Profile

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.