Illinois Municipal Retirement Fund trimmed its stake in MetLife, Inc. (NYSE:MET – Free Report) by 14.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,890 shares of the financial services provider’s stock after selling 17,305 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in MetLife were worth $7,206,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently modified their holdings of the stock. Brighton Jones LLC lifted its stake in MetLife by 9.0% in the fourth quarter. Brighton Jones LLC now owns 4,240 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 351 shares during the last quarter. Caxton Associates LLP bought a new position in MetLife during the first quarter valued at $307,000. Empowered Funds LLC increased its position in MetLife by 187.6% in the first quarter. Empowered Funds LLC now owns 33,378 shares of the financial services provider’s stock worth $2,680,000 after buying an additional 21,771 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in MetLife in the second quarter worth $404,000. Finally, Jump Financial LLC bought a new stake in shares of MetLife in the second quarter valued at $444,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.
MetLife Price Performance
Shares of NYSE MET opened at $93.99 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.20 and a current ratio of 0.20. MetLife, Inc. has a fifty-two week low of $67.33 and a fifty-two week high of $94.86. The stock has a market cap of $60.48 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 0.71 and a beta of 0.78. The stock has a fifty day moving average of $85.80 and a 200-day moving average of $79.07.
MetLife Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Tuesday, August 4th will be issued a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 4th. MetLife’s dividend payout ratio is 45.93%.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on MET. Mizuho increased their price target on MetLife from $95.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Wells Fargo & Company boosted their price objective on MetLife from $95.00 to $101.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Bank of America dropped their price objective on shares of MetLife from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Barclays increased their target price on shares of MetLife from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Finally, Weiss Ratings upgraded shares of MetLife from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 15th. One equities research 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $98.57.
Check Out Our Latest Stock Analysis on MET
MetLife News Roundup
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 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.
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