Atlantic Union Bankshares Corp Has $718,000 Stock Position in MetLife, Inc. (NYSE:MET)

Atlantic Union Bankshares Corp cut its holdings in shares of MetLife, Inc. (NYSE:MET) by 7.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,939 shares of the financial services provider’s stock after selling 745 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in MetLife were worth $718,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in MetLife by 33.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,663,239 shares of the financial services provider’s stock valued at $2,019,427,000 after acquiring an additional 6,213,923 shares during the last quarter. Geode Capital Management LLC grew its position in shares of MetLife by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 11,931,536 shares of the financial services provider’s stock valued at $973,901,000 after acquiring an additional 158,107 shares during the period. Norges Bank bought a new position in MetLife in the 4th quarter valued at $730,716,000. Bank of New York Mellon Corp raised its position in shares of MetLife by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 8,862,835 shares of the financial services provider’s stock valued at $711,597,000 after buying an additional 36,177 shares in the last quarter. Finally, Northern Trust Corp raised its position in MetLife by 15.7% in the 4th quarter. Northern Trust Corp now owns 7,052,202 shares of the financial services provider’s stock worth $577,434,000 after purchasing an additional 958,458 shares during the period. 94.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MET has been the topic of several research reports. Piper Sandler boosted their price objective on shares of MetLife from $92.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 2nd. Wall Street Zen lowered shares of MetLife from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. JPMorgan Chase & Co. raised their target price on shares of MetLife from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods lowered their price target on shares of MetLife from $95.00 to $94.00 and set an “outperform” rating on the stock in a report on Wednesday, July 9th. Finally, UBS Group boosted their target price on shares of MetLife from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, April 2nd. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, MetLife currently has a consensus rating of “Moderate Buy” and an average price target of $95.50.

MetLife Stock Down 0.2%

Shares of MET stock opened at $77.18 on Monday. The stock’s 50 day simple moving average is $78.96 and its 200 day simple moving average is $79.82. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.16 and a current ratio of 0.16. MetLife, Inc. has a twelve month low of $65.21 and a twelve month high of $89.05. The company has a market capitalization of $51.81 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 0.63 and a beta of 0.85.

MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $1.96 EPS for the quarter, missing the consensus estimate of $2.00 by ($0.04). MetLife had a net margin of 6.08% and a return on equity of 20.89%. The company had revenue of $18.57 billion during the quarter, compared to analyst estimates of $18.06 billion. During the same period in the prior year, the firm earned $1.83 EPS. MetLife’s quarterly revenue was up 15.6% compared to the same quarter last year. As a group, research analysts predict that MetLife, Inc. will post 9.65 EPS for the current year.

MetLife announced that its board has initiated a share buyback plan on Wednesday, April 30th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 5th will be given a dividend of $0.5675 per share. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Tuesday, August 5th. MetLife’s dividend payout ratio is currently 36.91%.

MetLife 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.