Pzena Investment Management LLC Has $799.41 Million Holdings in MetLife, Inc. $MET

Pzena Investment Management LLC decreased its position in shares of MetLife, Inc. (NYSE:MET) by 4.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,303,819 shares of the financial services provider’s stock after selling 579,519 shares during the period. MetLife comprises 2.6% of Pzena Investment Management LLC’s portfolio, making the stock its 15th biggest position. Pzena Investment Management LLC’s holdings in MetLife were worth $799,406,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Activest Wealth Management grew its position in MetLife by 205.8% during the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 212 shares during the last quarter. Vermillion & White Wealth Management Group LLC raised its position in MetLife by 790.0% in the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 316 shares during the last quarter. Sound Income Strategies LLC boosted its stake in MetLife by 58.9% in the fourth quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 142 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in shares of MetLife during the fourth quarter worth $30,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of MetLife in the fourth quarter valued at $31,000. 94.99% of the stock is owned by institutional investors and hedge funds.

MetLife Trading Up 3.0%

Shares of NYSE MET opened at $87.17 on Thursday. MetLife, Inc. has a fifty-two week low of $67.33 and a fifty-two week high of $89.62. The firm has a market capitalization of $56.09 billion, a P/E ratio of 16.89, a P/E/G ratio of 0.63 and a beta of 0.78. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.20 and a quick ratio of 0.20. The company’s 50 day simple moving average is $82.60 and its 200 day simple moving average is $78.20.

MetLife (NYSE:MET) last released its 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. The firm had revenue of $14.18 billion during the quarter, compared to analyst estimates of $19.49 billion. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.96 EPS. On average, analysts predict that MetLife, Inc. will post 10 EPS for the current year.

MetLife Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 12th were paid a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.7%. This is a boost from MetLife’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Tuesday, May 12th. MetLife’s payout ratio is presently 45.93%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MET shares. Wells Fargo & Company upped their price target on shares of MetLife from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Barclays raised their price objective on shares of MetLife from $89.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Bank of America dropped their target price on shares of MetLife from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. UBS Group upped their target price on shares of MetLife from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. Finally, Wall Street Zen lowered shares of MetLife from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One research 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $95.62.

Key Headlines Impacting MetLife

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: MetLife is being highlighted by market commentators as one of the best value stocks to buy right now, reinforcing investor interest in the company’s attractive valuation and income profile. Here is Why MetLife (MET) is One of the Best Value Stocks to Buy Right Now
• Positive Sentiment: MetLife recently launched the Non-Qualified Assignment Flex Agreement, a new funding solution that gives customers more flexible settlement options for non-physical injury claims, which could support business growth in its structured settlement-related offerings. Here is Why MetLife (MET) is One of the Best Value Stocks to Buy Right Now
• Neutral Sentiment: Several articles centered on World Cup matches and fan activity at MetLife Stadium, including ticket sales, match previews, and travel/parking coverage. These stories are more about the venue than MetLife, Inc.’s core insurance operations, so they are not likely to have a meaningful impact on MET shares.
• Negative Sentiment: There was also some attention on turf and weather concerns at MetLife Stadium during World Cup coverage, but this appears tied to stadium operations rather than the insurer’s fundamentals and should have limited direct impact on the stock.

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.