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Kathmere Capital Management LLC grew its holdings in shares of MetLife, Inc. (NYSE:MET – Free Report) by 88.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,328 shares of the financial services provider’s stock after purchasing an additional 2,965 shares during the quarter. Kathmere Capital Management LLC’s holdings in MetLife were worth $509,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Csenge Advisory Group lifted its position in MetLife by 1.0% in the first quarter. Csenge Advisory Group now owns 13,647 shares of the financial services provider’s stock worth $1,096,000 after buying an additional 131 shares during the last quarter. Delta Investment Management LLC raised its holdings in shares of MetLife by 0.9% in the first quarter. Delta Investment Management LLC now owns 14,265 shares of the financial services provider’s stock valued at $1,145,000 after acquiring an additional 133 shares in the last quarter. Glenview Trust co raised its holdings in shares of MetLife by 0.4% in the first quarter. Glenview Trust co now owns 38,333 shares of the financial services provider’s stock valued at $3,078,000 after acquiring an additional 141 shares in the last quarter. Stock Yards Bank & Trust Co. raised its holdings in shares of MetLife by 2.5% in the first quarter. Stock Yards Bank & Trust Co. now owns 6,463 shares of the financial services provider’s stock valued at $519,000 after acquiring an additional 159 shares in the last quarter. Finally, My Legacy Advisors LLC raised its holdings in shares of MetLife by 1.2% in the second quarter. My Legacy Advisors LLC now owns 14,000 shares of the financial services provider’s stock valued at $1,097,000 after acquiring an additional 164 shares in the last quarter. Institutional investors own 94.99% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on MET. Jefferies Financial Group lifted their price objective on MetLife from $100.00 to $103.00 and gave the company a “buy” rating in a report on Monday, August 11th. Cowen reiterated a “buy” rating on shares of MetLife in a report on Friday, August 22nd. Wells Fargo & Company reiterated an “overweight” rating and issued a $97.00 target price (up from $94.00) on shares of MetLife in a report on Thursday, July 10th. Barclays boosted their target price on shares of MetLife from $88.00 to $94.00 and gave the stock an “overweight” rating in a report on Monday, July 7th. Finally, Piper Sandler downgraded shares of MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 target price for the company. in a report on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $94.64.
View Our Latest Analysis on MET
MetLife Price Performance
Shares of MET stock opened at $81.61 on Monday. MetLife, Inc. has a fifty-two week low of $65.21 and a fifty-two week high of $89.05. The firm has a market capitalization of $54.27 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.74 and a beta of 0.87. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.16 and a current ratio of 0.16. The stock’s 50-day simple moving average is $78.67 and its 200-day simple moving average is $78.14.
MetLife (NYSE:MET – Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.30). MetLife had a return on equity of 19.88% and a net margin of 5.83%.The business had revenue of $17.34 billion for the quarter, compared to analysts’ expectations of $18.58 billion. During the same quarter in the previous year, the firm posted $2.28 EPS. MetLife’s revenue was down 2.7% on a year-over-year basis. As a group, equities analysts forecast that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.
MetLife Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 5th were paid a dividend of $0.5675 per share. The ex-dividend date was Tuesday, August 5th. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.8%. MetLife’s payout ratio is presently 38.47%.
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.
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