Wealthfront Advisers LLC Has $4.32 Million Stock Position in MetLife, Inc. $MET

Wealthfront Advisers LLC lowered its holdings in shares of MetLife, Inc. (NYSE:MET) by 24.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,147 shares of the financial services provider’s stock after selling 19,732 shares during the quarter. Wealthfront Advisers LLC’s holdings in MetLife were worth $4,324,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of MET. Norges Bank acquired a new position in MetLife during the fourth quarter worth $639,986,000. Vanguard Group Inc. boosted its stake in shares of MetLife by 12.1% during the 4th quarter. Vanguard Group Inc. now owns 72,555,335 shares of the financial services provider’s stock worth $5,727,518,000 after acquiring an additional 7,805,814 shares in the last quarter. Pzena Investment Management LLC increased its holdings in shares of MetLife by 22.9% during the 4th quarter. Pzena Investment Management LLC now owns 11,883,338 shares of the financial services provider’s stock valued at $938,071,000 after acquiring an additional 2,211,315 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of MetLife by 105.3% during the 3rd quarter. AQR Capital Management LLC now owns 3,305,620 shares of the financial services provider’s stock valued at $271,424,000 after acquiring an additional 1,695,563 shares during the last quarter. Finally, Man Group plc raised its stake in shares of MetLife by 325.5% in the 2nd quarter. Man Group plc now owns 1,344,551 shares of the financial services provider’s stock valued at $108,129,000 after acquiring an additional 1,028,554 shares in the last quarter. 94.99% of the stock is currently owned by institutional investors.

MetLife Stock Performance

MET opened at $93.99 on Monday. The firm has a market capitalization of $60.48 billion, a P/E ratio of 18.21, a price-to-earnings-growth ratio of 0.72 and a beta of 0.78. The stock’s 50 day moving average price is $85.80 and its two-hundred day moving average price 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 12-month low of $67.33 and a 12-month high of $94.86.

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

MetLife Announces Dividend

The business also recently announced 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 of this dividend 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 45.93%.

Wall Street Analyst Weigh In

MET has been the subject of a number of recent analyst reports. Mizuho upped their target price on MetLife from $95.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Wall Street Zen lowered shares of MetLife from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Atlantic Securities set a $103.00 price objective on shares of MetLife in a research note on Wednesday. Keefe, Bruyette & Woods upped their price objective on shares of MetLife from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Finally, Weiss Ratings upgraded shares of MetLife from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 15th. One investment 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $98.57.

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

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.