Valley Wealth Managers Inc. Grows Stock Position in MetLife, Inc. $MET

Valley Wealth Managers Inc. raised its position in MetLife, Inc. (NYSE:MET) by 4.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 314,184 shares of the financial services provider’s stock after acquiring an additional 13,904 shares during the quarter. Valley Wealth Managers Inc.’s holdings in MetLife were worth $22,219,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Activest Wealth Management boosted its stake in shares of MetLife by 205.8% in the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 212 shares during the period. Garton & Associates Financial Advisors LLC acquired a new position in MetLife in the 4th quarter worth $30,000. Sound Income Strategies LLC lifted its holdings in MetLife by 58.9% in the 4th quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock worth $29,000 after buying an additional 142 shares in the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in MetLife in the 4th quarter valued at about $31,000. Finally, Prosperity Bancshares Inc purchased a new position in MetLife in the 4th quarter valued at about $31,000. 94.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MET. Wells Fargo & Company lifted their target price on MetLife from $95.00 to $101.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Evercore set a $96.00 price target on MetLife in a report on Thursday, April 9th. Morgan Stanley raised their price objective on MetLife from $93.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Bank of America dropped their price objective on MetLife from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Finally, Barclays upped their target price on MetLife from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.57.

Key Stories Impacting MetLife

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 Stock Up 0.3%

MET stock opened at $93.99 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.20 and a quick ratio of 0.20. MetLife, Inc. has a 1-year low of $67.33 and a 1-year high of $94.86. The firm has a fifty day moving average price of $85.80 and a two-hundred day moving average price of $79.07. The firm has a market cap of $60.48 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 0.72 and a beta of 0.78.

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, topping analysts’ consensus estimates of $2.27 by $0.15. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The company had revenue of $14.18 billion for the quarter, compared to the consensus estimate of $19.49 billion. During the same period last year, the firm posted $1.96 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts predict that MetLife, Inc. will post 9.94 EPS for the current year.

MetLife Announces Dividend

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