MetLife, Inc. $MET Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. decreased its position in MetLife, Inc. (NYSE:MET) by 6.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,895 shares of the financial services provider’s stock after selling 5,614 shares during the quarter. Advisors Asset Management Inc.’s holdings in MetLife were worth $6,747,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Quaker Wealth Management LLC boosted its position in shares of MetLife by 198.2% in the 2nd 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. MTM Investment Management LLC purchased a new position in MetLife in the 2nd quarter valued at approximately $37,000. GFG Capital LLC acquired a new position in MetLife during the second quarter worth about $38,000. Abound Wealth Management raised its holdings in shares of 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 acquiring an additional 424 shares during the last quarter. Finally, Legend Financial Advisors Inc. purchased a new stake in shares of MetLife during the second quarter worth about $40,000. 94.99% of the stock is owned by hedge funds and other institutional investors.

MetLife Trading Up 0.7%

Shares of NYSE MET opened at $75.73 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.16 and a current ratio of 0.16. MetLife, Inc. has a 52 week low of $65.21 and a 52 week high of $89.05. The business has a 50 day simple moving average of $79.16 and a 200 day simple moving average of $78.87. The stock has a market cap of $49.90 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 0.70 and a beta of 0.87.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, November 5th. The financial services provider reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.07. MetLife had a net margin of 5.83% and a return on equity of 19.88%. The business had revenue of $17.90 billion for the quarter, compared to analyst estimates of $18.64 billion. During the same period last year, the business posted $1.95 EPS. MetLife’s revenue was down 5.9% compared to the same quarter last year. On average, research analysts predict that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.

MetLife Dividend Announcement

The firm 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 annualized dividend and a yield of 3.0%. MetLife’s payout ratio is presently 42.75%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MET. Weiss Ratings reissued a “buy (b-)” rating on shares of MetLife in a research report on Monday. Barclays lifted their target price on MetLife from $93.00 to $98.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Piper Sandler lowered shares of MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 price objective on the stock. in a research note on Friday, September 19th. Keefe, Bruyette & Woods decreased their target price on shares of MetLife from $92.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, November 11th. Finally, UBS Group reduced their price target on shares of MetLife from $96.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, MetLife presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

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.