Greenleaf Trust Reduces Holdings in MetLife, Inc. (NYSE:MET)

Greenleaf Trust cut its holdings in MetLife, Inc. (NYSE:MET) by 0.5% during the fourth quarter, HoldingsChannel reports. The fund owned 32,246 shares of the financial services provider’s stock after selling 158 shares during the period. Greenleaf Trust’s holdings in MetLife were worth $2,132,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MET. Norges Bank purchased a new position in shares of MetLife during the 4th quarter worth $444,205,000. Pzena Investment Management LLC raised its holdings in MetLife by 118.1% in the 3rd quarter. Pzena Investment Management LLC now owns 10,108,992 shares of the financial services provider’s stock valued at $635,957,000 after buying an additional 5,474,449 shares during the period. Moneta Group Investment Advisors LLC acquired a new position in MetLife in the fourth quarter valued at about $234,761,000. DekaBank Deutsche Girozentrale increased its position in shares of MetLife by 806.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,607,195 shares of the financial services provider’s stock valued at $100,152,000 after acquiring an additional 1,429,840 shares during the last quarter. Finally, Ensign Peak Advisors Inc raised its stake in shares of MetLife by 309.7% in the 1st quarter. Ensign Peak Advisors Inc now owns 1,364,265 shares of the financial services provider’s stock valued at $95,881,000 after acquiring an additional 1,031,277 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

MET has been the subject of a number of research analyst reports. Piper Sandler increased their price objective on shares of MetLife from $74.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. UBS Group lowered their price target on MetLife from $87.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, February 5th. Wells Fargo & Company boosted their price objective on MetLife from $83.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Morgan Stanley raised their target price on MetLife from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of MetLife from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $79.23.

MetLife Stock Performance

Shares of MET traded up $1.16 during midday trading on Friday, reaching $71.11. 3,346,091 shares of the stock were exchanged, compared to its average volume of 2,499,338. MetLife, Inc. has a twelve month low of $48.95 and a twelve month high of $74.68. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market capitalization of $51.41 billion, a price-to-earnings ratio of 38.86, a PEG ratio of 0.53 and a beta of 1.04. The business’s 50-day moving average price is $71.12 and its 200 day moving average price is $66.77.

MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $1.93 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.02). The firm had revenue of $18.72 billion for the quarter, compared to analyst estimates of $18.07 billion. MetLife had a return on equity of 19.48% and a net margin of 2.36%. On average, sell-side analysts expect that MetLife, Inc. will post 8.71 EPS for the current fiscal year.

Insider Activity at MetLife

In other MetLife news, insider Ramy Tadros sold 4,026 shares of MetLife stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total value of $289,469.40. Following the transaction, the insider now directly owns 146,981 shares in the company, valued at approximately $10,567,933.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other MetLife news, EVP Bill Pappas sold 27,000 shares of MetLife stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $72.27, for a total value of $1,951,290.00. Following the sale, the executive vice president now owns 57,768 shares of the company’s stock, valued at approximately $4,174,893.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ramy Tadros sold 4,026 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total value of $289,469.40. Following the transaction, the insider now directly owns 146,981 shares of the company’s stock, valued at $10,567,933.90. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.

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.