1ST Source Bank Sells 939 Shares of MetLife, Inc. $MET

1ST Source Bank lessened its position in shares of MetLife, Inc. (NYSE:MET) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,108 shares of the financial services provider’s stock after selling 939 shares during the quarter. 1ST Source Bank’s holdings in MetLife were worth $3,628,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Quaker Wealth Management LLC raised its position in MetLife by 198.2% during the second quarter. Quaker Wealth Management LLC now owns 333 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 672 shares during the period. Motco increased its position in shares of MetLife by 105.5% during the 1st quarter. Motco now owns 413 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 212 shares during the last quarter. GFG Capital LLC purchased a new stake in MetLife during the 2nd quarter valued at $38,000. Abound Wealth Management lifted its position in MetLife by 652.3% in the second quarter. Abound Wealth Management now owns 489 shares of the financial services provider’s stock worth $39,000 after buying an additional 424 shares during the last quarter. Finally, Legend Financial Advisors Inc. bought a new stake in MetLife in the second quarter worth $40,000. Institutional investors own 94.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Piper Sandler lowered MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 target price for the company. in a research report on Friday, September 19th. Barclays boosted their price objective on MetLife from $93.00 to $98.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Morgan Stanley increased their target price on MetLife from $94.00 to $97.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of MetLife in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company cut their price target on shares of MetLife from $96.00 to $92.00 and set an “overweight” rating on the stock in a report on Friday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $95.18.

MetLife Stock Up 0.2%

MET stock opened at $76.11 on Friday. The stock has a market capitalization of $50.62 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 0.70 and a beta of 0.87. MetLife, Inc. has a 52 week low of $65.21 and a 52 week high of $89.05. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average of $80.04 and a 200 day moving average of $78.83.

MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.07. MetLife had a return on equity of 19.88% and a net margin of 5.83%.The business had revenue of $12.46 billion for the quarter, compared to the consensus estimate of $18.64 billion. During the same quarter in the previous year, the business earned $1.95 EPS. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. Sell-side analysts forecast that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 4th will be given a $0.5675 dividend. The ex-dividend date is Tuesday, November 4th. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.0%. MetLife’s dividend payout ratio is 42.75%.

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.