Strs Ohio Sells 68,348 Shares of MetLife, Inc. $MET

Strs Ohio lessened its holdings in MetLife, Inc. (NYSE:MET) by 21.0% in the first quarter, HoldingsChannel reports. The fund owned 257,743 shares of the financial services provider’s stock after selling 68,348 shares during the period. Strs Ohio’s holdings in MetLife were worth $18,228,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of MET. Activest Wealth Management raised its stake in MetLife by 205.8% in the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 212 shares in the last quarter. Vermillion & White Wealth Management Group LLC grew its position in shares of MetLife by 790.0% during the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 316 shares in the last quarter. Sound Income Strategies LLC grew its position in shares of MetLife by 58.9% during the 4th quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 142 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new position in shares of MetLife during the fourth quarter worth approximately $30,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of MetLife in the fourth quarter valued at approximately $31,000. 94.99% of the stock is currently owned by institutional investors and hedge funds.

MetLife Stock Performance

NYSE MET opened at $89.90 on Friday. The firm’s 50 day simple moving average is $83.11 and its 200 day simple moving average is $78.34. The firm has a market capitalization of $57.84 billion, a price-to-earnings ratio of 17.42, a P/E/G ratio of 0.68 and a beta of 0.78. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.53. MetLife, Inc. has a 1 year low of $67.33 and a 1 year high of $90.06.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.42 EPS for the quarter, beating 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 business 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 business earned $1.96 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. As a group, research analysts expect that MetLife, Inc. will post 9.98 earnings per share for the current fiscal year.

MetLife Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 12th were issued a dividend of $0.5925 per share. This is an increase from MetLife’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.6%. MetLife’s payout ratio is presently 45.93%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. TD Cowen cut their price target on MetLife from $91.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, March 11th. Weiss Ratings raised MetLife from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 15th. Wells Fargo & Company upped their target price on MetLife from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Mizuho set a $95.00 target price on MetLife in a report on Friday, May 8th. Finally, Barclays raised their price target on MetLife from $89.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.62.

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.