D.A. Davidson & CO. Cuts Stake in MetLife, Inc. $MET

D.A. Davidson & CO. lessened its stake in shares of MetLife, Inc. (NYSE:MET) by 13.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,030 shares of the financial services provider’s stock after selling 6,993 shares during the quarter. D.A. Davidson & CO.’s holdings in MetLife were worth $3,185,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Activest Wealth Management boosted its holdings 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 acquiring an additional 212 shares during the period. Garton & Associates Financial Advisors LLC purchased a new stake in shares of MetLife during the fourth quarter valued at approximately $30,000. Sound Income Strategies LLC raised its stake in shares of MetLife by 58.9% during the fourth quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 142 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of MetLife during the fourth quarter worth $31,000. Finally, Prosperity Bancshares Inc purchased a new position in shares of MetLife in the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.

MetLife News Summary

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on MET. Piper Sandler lifted their price target on shares of MetLife from $86.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 24th. Keefe, Bruyette & Woods boosted their price target on MetLife from $98.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. UBS Group raised their price objective on MetLife from $102.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Jefferies Financial Group lifted their price objective on MetLife from $97.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Finally, Atlantic Securities set a $103.00 price target on shares of MetLife in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $98.57.

MetLife Trading Down 0.0%

NYSE:MET opened at $93.99 on Monday. The company has a market cap of $60.48 billion, a PE ratio of 18.21, a P/E/G ratio of 0.72 and a beta of 0.78. The business’s 50 day moving average is $85.80 and its two-hundred day moving average is $79.07. 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 52 week low of $67.33 and a 52 week high of $94.86.

MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.15. MetLife had a return on equity of 22.60% and a net margin of 4.66%.The business had revenue of $14.18 billion for the quarter, compared to analyst estimates of $19.49 billion. During the same period in the prior year, the company posted $1.96 EPS. The business’s revenue was up 2.7% compared to the same quarter last year. On average, analysts predict that MetLife, Inc. will post 9.94 EPS for the current year.

MetLife Dividend Announcement

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

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.