5,995 MetLife, Inc. $MET Shares Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC reduced its position in shares of MetLife, Inc. (NYSE:MET) by 22.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,772 shares of the financial services provider’s stock after selling 5,995 shares during the quarter. Verdence Capital Advisors LLC’s holdings in MetLife were worth $1,956,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MET. BlackRock Inc. bought a new stake in MetLife in the 2nd quarter worth $4,381,692,000. Pzena Investment Management LLC purchased a new position in shares of MetLife in the second quarter valued at about $941,792,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of MetLife by 5.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,026,518 shares of the financial services provider’s stock valued at $509,904,000 after acquiring an additional 336,794 shares during the period. Bank of America Corp DE bought a new position in shares of MetLife during the second quarter valued at about $455,424,000. Finally, Legal & General Group Plc bought a new position in shares of MetLife during the second quarter valued at about $326,904,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.

MetLife Trading Up 0.0%

NYSE:MET opened at $100.08 on Wednesday. The firm’s fifty day simple moving average is $97.39 and its 200 day simple moving average is $85.36. MetLife, Inc. has a twelve month low of $67.33 and a twelve month high of $103.65.

MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.43 EPS for the quarter, topping the consensus estimate of $2.30 by $0.13. The company had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $19.67 billion. During the same quarter last year, the company posted $2.02 earnings per share. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, analysts expect that MetLife, Inc. will post 9.94 EPS for the current year.

MetLife Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Tuesday, November 3rd will be paid a dividend of $0.5925 per share. The ex-dividend date of this dividend is Tuesday, November 3rd. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.4%.

MetLife announced that its Board of Directors has approved a stock buyback program on Wednesday, August 5th that authorizes the company to repurchase $3 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 4.8% of its shares through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MET. Mizuho dropped their target price on shares of MetLife from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Wednesday, October 7th. UBS Group boosted their price target on MetLife from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, October 6th. Piper Sandler upgraded MetLife from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $99.00 to $110.00 in a report on Tuesday, September 22nd. Wall Street Zen raised MetLife from a “hold” rating to a “buy” rating in a research report on Sunday, September 27th. Finally, Wells Fargo & Company increased their price objective on MetLife from $109.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.44.

MetLife Company Profile

MetLife, Inc (NYSE: MET) is a global financial services company that provides insurance, retirement, and employee benefits solutions to individuals, employers, and institutions. Its offerings include life insurance, dental and vision coverage, accident and disability insurance, annuities, retirement savings products, and related financial services.

Through its institutional and workplace businesses, MetLife helps employers provide benefits and retirement programs to their employees. The company also serves individual customers with protection and income products.