Gradient Investments LLC Raises Stock Position in MetLife, Inc. (NYSE:MET)

Gradient Investments LLC grew its holdings in MetLife, Inc. (NYSE:METGet Rating) by 89.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 449 shares of the financial services provider’s stock after acquiring an additional 212 shares during the period. Gradient Investments LLC’s holdings in MetLife were worth $28,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Carolinas Wealth Consulting LLC raised its stake in shares of MetLife by 26.4% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 767 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 160 shares during the period. Windsor Capital Management LLC raised its stake in shares of MetLife by 1.4% in the 1st quarter. Windsor Capital Management LLC now owns 11,437 shares of the financial services provider’s stock valued at $803,000 after acquiring an additional 161 shares during the period. Woodward Diversified Capital LLC raised its stake in shares of MetLife by 1.9% in the 1st quarter. Woodward Diversified Capital LLC now owns 9,209 shares of the financial services provider’s stock valued at $647,000 after acquiring an additional 171 shares during the period. DAVENPORT & Co LLC raised its stake in shares of MetLife by 0.5% in the 1st quarter. DAVENPORT & Co LLC now owns 36,806 shares of the financial services provider’s stock valued at $2,587,000 after acquiring an additional 177 shares during the period. Finally, Boenning & Scattergood Inc. raised its stake in shares of MetLife by 1.8% in the 1st quarter. Boenning & Scattergood Inc. now owns 10,210 shares of the financial services provider’s stock valued at $718,000 after acquiring an additional 183 shares during the period. Hedge funds and other institutional investors own 86.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wolfe Research raised shares of MetLife from a “market perform” rating to an “outperform” rating and raised their price target for the company from $70.00 to $74.00 in a report on Wednesday, June 22nd. JPMorgan Chase & Co. lowered their price target on shares of MetLife from $75.00 to $74.00 in a report on Monday, July 11th. Barclays set a $75.00 price target on shares of MetLife in a report on Tuesday, July 19th. Morgan Stanley raised their price target on shares of MetLife from $79.00 to $83.00 and gave the company an “overweight” rating in a report on Wednesday, August 17th. Finally, TheStreet raised shares of MetLife from a “c+” rating to a “b-” rating in a report on Thursday, September 15th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $76.92.

Insider Activity

In related news, EVP Steven J. Goulart sold 4,060 shares of MetLife stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $67.60, for a total value of $274,456.00. Following the sale, the executive vice president now directly owns 55,299 shares in the company, valued at approximately $3,738,212.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.26% of the company’s stock.

MetLife Trading Down 1.5 %

NYSE MET opened at $64.52 on Thursday. MetLife, Inc. has a one year low of $57.05 and a one year high of $73.18. The company has a 50-day simple moving average of $64.51 and a 200-day simple moving average of $65.59. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a market capitalization of $52.47 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 0.50 and a beta of 1.05.

MetLife (NYSE:METGet Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The financial services provider reported $2.00 EPS for the quarter, beating the consensus estimate of $1.55 by $0.45. MetLife had a net margin of 5.26% and a return on equity of 12.90%. The business had revenue of $18.30 billion during the quarter, compared to analyst estimates of $16.53 billion. On average, equities analysts forecast that MetLife, Inc. will post 7.36 earnings per share for the current year.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Stockholders of record on Tuesday, August 9th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.10%. The ex-dividend date was Monday, August 8th. MetLife’s dividend payout ratio (DPR) is presently 49.75%.

MetLife Company Profile

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MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through five segments: U.S.; 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.

Further Reading

Institutional Ownership by Quarter for MetLife (NYSE:MET)

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