Carnegie Capital Asset Management LLC Reduces Stock Position in Metlife Inc (NYSE:MET)

Carnegie Capital Asset Management LLC lowered its stake in shares of Metlife Inc (NYSE:MET) by 24.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,419 shares of the financial services provider’s stock after selling 2,732 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Metlife were worth $257,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Capital Analysts LLC lifted its position in shares of Metlife by 6.2% during the first quarter. Capital Analysts LLC now owns 37,859 shares of the financial services provider’s stock worth $1,157,000 after acquiring an additional 2,219 shares in the last quarter. Citizens Financial Group Inc RI lifted its position in shares of Metlife by 10.9% during the first quarter. Citizens Financial Group Inc RI now owns 4,688 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 461 shares in the last quarter. Swiss National Bank lifted its position in shares of Metlife by 20.9% during the first quarter. Swiss National Bank now owns 3,033,876 shares of the financial services provider’s stock worth $92,746,000 after acquiring an additional 524,100 shares in the last quarter. Point View Wealth Management Inc. lifted its position in shares of Metlife by 6.6% during the first quarter. Point View Wealth Management Inc. now owns 41,313 shares of the financial services provider’s stock worth $1,263,000 after acquiring an additional 2,555 shares in the last quarter. Finally, BRYN MAWR TRUST Co purchased a new stake in shares of Metlife during the first quarter worth $485,000. Hedge funds and other institutional investors own 74.04% of the company’s stock.

A number of equities research analysts recently issued reports on MET shares. Credit Suisse Group lowered their price objective on Metlife from $60.00 to $46.00 and set an “outperform” rating on the stock in a research report on Monday, April 27th. Piper Sandler lowered their price objective on Metlife from $38.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, April 3rd. Citigroup upgraded Metlife from a “sell” rating to a “neutral” rating and lowered their price objective for the stock from $46.00 to $32.00 in a research report on Monday, March 16th. Wells Fargo & Co lowered their price objective on Metlife from $59.00 to $44.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Finally, ValuEngine cut Metlife from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $42.25.

NYSE MET opened at $33.34 on Friday. Metlife Inc has a 1 year low of $22.85 and a 1 year high of $53.28. The stock has a market capitalization of $30.40 billion, a PE ratio of 3.55 and a beta of 1.33. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.16 and a quick ratio of 0.16. The business’s 50-day moving average is $32.93 and its 200 day moving average is $43.33.

Metlife (NYSE:MET) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.14. The business had revenue of $15.54 billion during the quarter, compared to analyst estimates of $16.38 billion. Metlife had a return on equity of 8.85% and a net margin of 12.37%. Metlife’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.48 EPS. As a group, equities research analysts anticipate that Metlife Inc will post 5.39 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 8th will be given a dividend of $0.46 per share. This is a positive change from Metlife’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, May 7th. This represents a $1.84 dividend on an annualized basis and a yield of 5.52%. Metlife’s dividend payout ratio is presently 30.11%.

Metlife Profile

MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; 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, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.

See Also: Liquidity

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Institutional Ownership by Quarter for Metlife (NYSE:MET)

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