Allspring Global Investments Holdings LLC Sells 58,865 Shares of MetLife, Inc. (NYSE:MET)

Allspring Global Investments Holdings LLC lowered its position in MetLife, Inc. (NYSE:MET) by 21.7% in the 4th quarter, Holdings Channel reports. The firm owned 212,059 shares of the financial services provider’s stock after selling 58,865 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in MetLife were worth $14,023,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MET. DHJJ Financial Advisors Ltd. purchased a new stake in shares of MetLife in the third quarter worth approximately $25,000. FWL Investment Management LLC purchased a new stake in MetLife in the fourth quarter worth $26,000. Quintet Private Bank Europe S.A. bought a new stake in shares of MetLife during the third quarter worth $28,000. Planned Solutions Inc. purchased a new stake in shares of MetLife during the fourth quarter valued at $28,000. Finally, Eagle Bay Advisors LLC bought a new position in shares of MetLife in the second quarter worth about $28,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Transactions at MetLife

In related news, EVP Bill Pappas sold 27,000 shares of the company’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 filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Bill Pappas sold 27,000 shares of MetLife stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $72.27, for a total value of $1,951,290.00. Following the completion of the sale, the executive vice president now directly owns 57,768 shares in the company, valued at approximately $4,174,893.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ramy Tadros sold 4,026 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $71.90, for a total transaction of $289,469.40. Following the transaction, the insider now owns 146,981 shares in the company, valued at approximately $10,567,933.90. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

MetLife Stock Down 1.0 %

NYSE:MET opened at $69.44 on Tuesday. The company’s 50-day simple moving average is $70.89 and its 200-day simple moving average is $66.62. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.16 and a current ratio of 0.16. MetLife, Inc. has a fifty-two week low of $48.95 and a fifty-two week high of $74.68. The stock has a market capitalization of $50.21 billion, a P/E ratio of 37.95, a P/E/G ratio of 0.53 and a beta of 1.04.

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

Wall Street Analyst Weigh In

MET has been the subject of several research reports. Keefe, Bruyette & Woods boosted their price objective on shares of MetLife from $82.00 to $87.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Morgan Stanley increased their price objective on MetLife from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Monday. Piper Sandler lifted their target price on MetLife from $74.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, April 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 report on Thursday, April 11th. Finally, The Goldman Sachs Group upgraded MetLife from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $70.00 to $80.00 in a report on Monday, January 8th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $79.23.

About MetLife

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.