Meyer Handelman Co. Sells 6,400 Shares of MetLife, Inc. $MET

Meyer Handelman Co. lowered its holdings in MetLife, Inc. (NYSE:MET) by 18.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,635 shares of the financial services provider’s stock after selling 6,400 shares during the quarter. Meyer Handelman Co.’s holdings in MetLife were worth $1,954,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Trustmark Bank Trust Department boosted its stake in MetLife by 4.6% during the 3rd quarter. Trustmark Bank Trust Department now owns 2,870 shares of the financial services provider’s stock valued at $236,000 after purchasing an additional 127 shares during the last quarter. Commonwealth Retirement Investments LLC raised its stake in shares of MetLife by 0.5% in the fourth quarter. Commonwealth Retirement Investments LLC now owns 26,953 shares of the financial services provider’s stock worth $2,128,000 after purchasing an additional 131 shares during the last quarter. CreativeOne Wealth LLC lifted its holdings in shares of MetLife by 1.3% in the fourth quarter. CreativeOne Wealth LLC now owns 10,156 shares of the financial services provider’s stock valued at $802,000 after purchasing an additional 135 shares in the last quarter. Trust Co. of Toledo NA OH boosted its position in shares of MetLife by 0.5% during the fourth quarter. Trust Co. of Toledo NA OH now owns 30,431 shares of the financial services provider’s stock valued at $2,402,000 after buying an additional 138 shares during the last quarter. Finally, Bridgewater Advisors Inc. grew its holdings in MetLife by 3.5% during the fourth quarter. Bridgewater Advisors Inc. now owns 4,113 shares of the financial services provider’s stock worth $315,000 after buying an additional 140 shares in the last quarter. Institutional investors and hedge funds own 94.99% of the company’s stock.

MetLife Stock Performance

NYSE:MET opened at $84.51 on Friday. The business’s 50-day moving average price is $81.93 and its two-hundred day moving average price is $78.02. The stock has a market cap of $54.38 billion, a P/E ratio of 16.38, a PEG ratio of 0.63 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 twelve month low of $67.33 and a twelve month high of $89.62.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.15. The company had revenue of $14.18 billion during the quarter, compared to analysts’ expectations of $19.49 billion. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.96 EPS. As a group, equities analysts predict that MetLife, Inc. will post 9.98 EPS for the current fiscal year.

MetLife Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 12th were given a dividend of $0.5925 per share. This represents a $2.37 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Tuesday, May 12th. This is a positive change from MetLife’s previous quarterly dividend of $0.57. MetLife’s payout ratio is presently 45.93%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MET shares. Keefe, Bruyette & Woods increased their price target on MetLife from $87.00 to $98.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Mizuho set a $95.00 price target on shares of MetLife in a research report on Friday, May 8th. UBS Group boosted their price target on shares of MetLife from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, April 9th. JPMorgan Chase & Co. upped their price objective on shares of MetLife from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Finally, Piper Sandler boosted their target price on MetLife from $86.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.62.

Key Stories Impacting MetLife

Here are the key news stories impacting MetLife this week:

• Negative Sentiment: World Cup coverage has highlighted complaints from players about the turf at MetLife Stadium, with some praising other venues and “trashing MetLife,” reinforcing criticism of the stadium’s field conditions. World Cup players split on turf, praising SoFi while trashing MetLife
• Negative Sentiment: Additional reports said NFL players blasted the MetLife turf, keeping the criticism of the stadium in the spotlight and potentially weighing on brand perception. NFL players blast MetLife turf as World Cup grass fuels debate
• Neutral Sentiment: There were also upbeat event-related headlines, including fans packing MetLife Stadium for World Cup matches and excitement around high-profile games, which supports strong attendance and traffic but does not directly change MetLife’s fundamentals. Ecuador, Germany fans pack MetLife for World Cup group match
• Neutral Sentiment: MetLife also had corporate visibility from a new study on resilience and confidence, plus coverage of its broader “confident futures” initiative, but these are mainly brand/PR updates rather than clear near-term stock movers. New MetLife Study Reveals a 72% “Confidence Gap” in Ability to Recover from Life’s Setbacks
• Neutral Sentiment: Reports about ticket prices, offsite tailgates, weather delays, and player arrivals at MetLife Stadium are mostly event noise and do not materially affect the insurer’s core business. What do tickets cost for the England vs. Panama World Cup match at MetLife?

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.