MetLife, Inc. (NYSE:MET) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its position in shares of MetLife, Inc. (NYSE:MET) by 2.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 341,639 shares of the financial services provider’s stock after selling 7,381 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in MetLife were worth $25,319,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GoalVest Advisory LLC raised its holdings in MetLife by 73.3% in the 1st quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider’s stock valued at $29,000 after buying an additional 165 shares during the period. Criterion Capital Advisors LLC acquired a new position in shares of MetLife in the 4th quarter worth approximately $26,000. Planned Solutions Inc. purchased a new position in shares of MetLife during the 4th quarter worth approximately $28,000. Tennessee Valley Asset Management Partners acquired a new stake in MetLife in the 4th quarter valued at approximately $34,000. Finally, Rise Advisors LLC raised its position in MetLife by 114.7% in the first quarter. Rise Advisors LLC now owns 556 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 297 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MET has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on MetLife from $81.00 to $86.00 and gave the company an “overweight” rating in a report on Tuesday, July 2nd. Keefe, Bruyette & Woods cut their price target on shares of MetLife from $86.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday. Piper Sandler lowered their price objective on shares of MetLife from $85.00 to $82.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. Jefferies Financial Group dropped their price objective on shares of MetLife from $88.00 to $83.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, Wells Fargo & Company dropped their price target on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $80.23.

MetLife Stock Performance

Shares of NYSE MET traded up $1.24 during trading hours on Wednesday, reaching $71.16. The stock had a trading volume of 1,986,942 shares, compared to its average volume of 3,355,722. The firm has a market cap of $50.60 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 0.58 and a beta of 1.11. MetLife, Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $74.68. The firm has a 50-day moving average of $71.05 and a 200-day moving average of $70.35. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58.

MetLife (NYSE:MET) last announced its earnings results on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.83. MetLife had a net margin of 3.50% and a return on equity of 20.39%. The business had revenue of $17.02 billion for the quarter, compared to analyst estimates of $17.73 billion. During the same period last year, the firm posted $1.52 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities research analysts predict that MetLife, Inc. will post 8.62 earnings per share for the current year.

MetLife Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 7th were issued a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.06%. This is a boost from MetLife’s previous quarterly dividend of $0.52. The ex-dividend date was Monday, May 6th. MetLife’s dividend payout ratio is presently 74.91%.

MetLife declared that its board has initiated a share buyback program on Wednesday, May 1st that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

MetLife Company Profile

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.