Stock Yards Bank & Trust Co. Trims Position in MetLife, Inc. (NYSE:MET)

Stock Yards Bank & Trust Co. trimmed its position in shares of MetLife, Inc. (NYSE:MET) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,340 shares of the financial services provider’s stock after selling 471 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in MetLife were worth $485,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Criterion Capital Advisors LLC acquired a new position in shares of MetLife during the fourth quarter worth about $26,000. Planned Solutions Inc. acquired a new position in shares of MetLife during the fourth quarter worth about $28,000. Quintet Private Bank Europe S.A. acquired a new position in shares of MetLife during the third quarter worth about $28,000. Tennessee Valley Asset Management Partners acquired a new position in shares of MetLife during the fourth quarter worth about $34,000. Finally, Headlands Technologies LLC acquired a new position in shares of MetLife during the third quarter worth about $36,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

MetLife Stock Up 0.4 %

Shares of NYSE MET opened at $72.23 on Wednesday. MetLife, Inc. has a 12-month low of $48.95 and a 12-month high of $74.68. 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. 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 firm’s 50-day moving average is $71.28 and its two-hundred day moving average is $67.02.

MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.02). MetLife had a net margin of 2.36% and a return on equity of 19.48%. The business had revenue of $18.72 billion during the quarter, compared to analysts’ expectations of $18.07 billion. Equities analysts anticipate that MetLife, Inc. will post 8.71 EPS for the current fiscal year.

MetLife Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders 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 dividend payout ratio is 113.66%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MET shares. Wells Fargo & Company boosted their price target on shares of MetLife from $83.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Piper Sandler upped their target price 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. The Goldman Sachs Group upgraded shares of MetLife from a “neutral” rating to a “buy” rating and upped their target price for the stock from $70.00 to $80.00 in a research report on Monday, January 8th. UBS Group lowered their target price on shares of MetLife from $87.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. Finally, Keefe, Bruyette & Woods upped their target price on shares of MetLife from $82.00 to $87.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $79.23.

Insider Activity at MetLife

In related news, EVP Bill Pappas sold 27,000 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $72.27, for a total transaction of $1,951,290.00. Following the transaction, 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 Securities & Exchange Commission, which is accessible through this link. In related news, insider Ramy Tadros sold 4,026 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 146,981 shares of the company’s stock, valued at $10,567,933.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bill Pappas sold 27,000 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $72.27, for a total transaction of $1,951,290.00. Following the transaction, the executive vice president now directly owns 57,768 shares in the company, valued at approximately $4,174,893.36. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

About MetLife

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.