M&G Investment Management Ltd. Cuts Position in MetLife, Inc. (NYSE:MET)

Posted by on Apr 11th, 2023

M&G Investment Management Ltd. lowered its position in shares of MetLife, Inc. (NYSE:MET – Get Rating) by 10.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,677 shares of the financial services provider’s stock after selling 645 shares during the quarter. M&G Investment Management Ltd.’s holdings in MetLife were worth $409,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Center for Financial Planning Inc. purchased a new stake in MetLife during the third quarter worth approximately $25,000. Eagle Bay Advisors LLC acquired a new position in shares of MetLife during the 2nd quarter valued at $28,000. First Personal Financial Services purchased a new stake in MetLife during the 3rd quarter worth $30,000. Legend Financial Advisors Inc. purchased a new stake in MetLife during the 3rd quarter worth $30,000. Finally, SJS Investment Consulting Inc. acquired a new stake in MetLife in the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 88.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MET. Morgan Stanley boosted their price objective on MetLife from $88.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 2nd. JPMorgan Chase & Co. upped their price target on MetLife from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, January 6th. The Goldman Sachs Group dropped their price objective on shares of MetLife from $79.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 5th. Wells Fargo & Company decreased their target price on shares of MetLife from $84.00 to $72.00 and set an “overweight” rating for the company in a research note on Wednesday, April 5th. Finally, StockNews.com initiated coverage on shares of MetLife in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.64.

Insider Activity

In other MetLife news, EVP Bill Pappas sold 2,857 shares of MetLife stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $70.96, for a total value of $202,732.72. Following the completion of the transaction, the executive vice president now owns 48,915 shares of the company’s stock, valued at $3,471,008.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.

MetLife Price Performance

MET opened at $59.48 on Tuesday. The company has a market capitalization of $46.06 billion, a P/E ratio of 20.30, a PEG ratio of 0.54 and a beta of 1.05. The company has a 50-day moving average of $64.97 and a 200-day moving average of $68.88. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.13 and a current ratio of 0.13. MetLife, Inc. has a 1-year low of $52.83 and a 1-year high of $77.36.

MetLife (NYSE:MET – Get Rating) last announced its quarterly earnings data on Wednesday, February 1st. The financial services provider reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.19). MetLife had a net margin of 3.63% and a return on equity of 15.64%. The firm had revenue of $15.84 billion during the quarter, compared to the consensus estimate of $17.21 billion. During the same period in the prior year, the firm earned $2.17 earnings per share. The firm’s quarterly revenue was down 21.6% compared to the same quarter last year. Equities analysts expect that MetLife, Inc. will post 8.32 EPS for the current fiscal year.

MetLife Profile

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MetLife, Inc provides insurance and financial services to individual and institutional customers. It offers life insurance, annuities, automobile and homeowner’s insurance and retail banking services to individuals as well as group insurance, reinsurance and retirement and savings products and services.

See Also

Institutional Ownership by Quarter for MetLife (NYSE:MET)

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