MetLife, Inc. $MET Shares Sold by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC lessened its stake in MetLife, Inc. (NYSE:MET) by 58.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,130 shares of the financial services provider’s stock after selling 10,023 shares during the period. Miracle Mile Advisors LLC’s holdings in MetLife were worth $587,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Quaker Wealth Management LLC boosted its holdings in MetLife by 198.2% during the second quarter. Quaker Wealth Management LLC now owns 333 shares of the financial services provider’s stock worth $27,000 after buying an additional 672 shares in the last quarter. Evolution Wealth Management Inc. acquired a new position in shares of MetLife in the second quarter worth about $35,000. MTM Investment Management LLC acquired a new position in shares of MetLife in the second quarter worth about $37,000. GFG Capital LLC purchased a new stake in shares of MetLife during the 2nd quarter worth about $38,000. Finally, Abound Wealth Management grew its position in shares of MetLife by 652.3% during the 2nd quarter. Abound Wealth Management now owns 489 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 424 shares during the period. 94.99% of the stock is owned by hedge funds and other institutional investors.

MetLife Trading Up 1.7%

Shares of MET stock opened at $80.31 on Monday. MetLife, Inc. has a fifty-two week low of $65.21 and a fifty-two week high of $88.09. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.18 and a current ratio of 0.18. The stock’s fifty day moving average is $78.66 and its two-hundred day moving average is $78.99. The firm has a market capitalization of $52.91 billion, a P/E ratio of 15.12, a PEG ratio of 0.67 and a beta of 0.76.

MetLife (NYSE:MET) last issued its earnings results on Wednesday, November 5th. The financial services provider reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.07. The business had revenue of $12.46 billion during the quarter, compared to analysts’ expectations of $18.64 billion. MetLife had a net margin of 5.30% and a return on equity of 21.00%. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.95 earnings per share. Research analysts expect that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.

MetLife Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 4th were paid a $0.5675 dividend. This represents a $2.27 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Tuesday, November 4th. MetLife’s dividend payout ratio (DPR) is 42.75%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Keefe, Bruyette & Woods reduced their price target on MetLife from $92.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, November 11th. Piper Sandler cut MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 price objective for the company. in a research report on Friday, September 19th. Wells Fargo & Company increased their target price on MetLife from $92.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, December 23rd. Wolfe Research raised shares of MetLife to a “strong-buy” rating in a research note on Tuesday, September 16th. Finally, UBS Group reduced their price objective on shares of MetLife from $96.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $95.73.

MetLife Company Profile

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.