OLD National Bancorp IN Decreases Position in MetLife, Inc. (NYSE:MET)

OLD National Bancorp IN cut its position in MetLife, Inc. (NYSE:MET) by 7.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 10,125 shares of the financial services provider’s stock after selling 850 shares during the period. OLD National Bancorp IN’s holdings in MetLife were worth $670,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MET. Criterion Capital Advisors LLC purchased a new position in MetLife in the fourth quarter worth about $26,000. Quintet Private Bank Europe S.A. bought a new stake in shares of MetLife in the third quarter worth approximately $28,000. Planned Solutions Inc. bought a new stake in shares of MetLife in the fourth quarter worth approximately $28,000. Tennessee Valley Asset Management Partners bought a new stake in shares of MetLife in the fourth quarter worth approximately $34,000. Finally, Headlands Technologies LLC bought a new stake in shares of MetLife in the third quarter worth approximately $36,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at MetLife

In related news, insider Ramy Tadros sold 4,026 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $71.90, for a total transaction of $289,469.40. Following the sale, the insider now owns 146,981 shares of the company’s stock, valued at $10,567,933.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Bill Pappas sold 27,000 shares of the stock in a transaction on Monday, March 18th. The shares were 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 $4,174,893.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ramy Tadros sold 4,026 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $71.90, for a total transaction of $289,469.40. Following the completion of the sale, the insider now directly owns 146,981 shares in the company, valued at approximately $10,567,933.90. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Keefe, Bruyette & Woods lifted 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. Piper Sandler lifted their price target on shares of MetLife from $74.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Morgan Stanley boosted their target price on shares of MetLife from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. UBS Group cut their target price on shares of MetLife from $87.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, February 5th. Finally, Wells Fargo & Company boosted their target price on shares of MetLife from $83.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, MetLife has an average rating of “Moderate Buy” and a consensus target price of $79.23.

MetLife Price Performance

MET stock opened at $72.23 on Wednesday. MetLife, Inc. has a one year low of $48.95 and a one year high of $74.68. The company’s fifty day moving average price is $71.28 and its 200-day moving average price is $67.02. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market capitalization of $52.22 billion, a PE ratio of 39.47, a price-to-earnings-growth ratio of 0.54 and a beta of 1.04.

MetLife (NYSE:MET) last released its 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). MetLife had a return on equity of 19.48% and a net margin of 2.36%. The company had revenue of $18.72 billion during the quarter, compared to analysts’ expectations of $18.07 billion. On average, equities analysts anticipate that MetLife, Inc. will post 8.71 EPS for the current fiscal year.

MetLife Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 7th will be issued a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 3.02%. This is an increase from MetLife’s previous quarterly dividend of $0.52. MetLife’s payout ratio is 113.66%.

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.