Bogart Wealth LLC Sells 79,843 Shares of MetLife, Inc. $MET

Bogart Wealth LLC reduced its position in MetLife, Inc. (NYSE:MET) by 99.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 758 shares of the financial services provider’s stock after selling 79,843 shares during the quarter. Bogart Wealth LLC’s holdings in MetLife were worth $62,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quent Capital LLC raised its position in MetLife by 4.5% during the third quarter. Quent Capital LLC now owns 7,314 shares of the financial services provider’s stock valued at $602,000 after purchasing an additional 312 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of MetLife by 2.0% in the 3rd quarter. Nordea Investment Management AB now owns 4,512,620 shares of the financial services provider’s stock valued at $367,643,000 after purchasing an additional 86,519 shares during the last quarter. Harbor Investment Advisory LLC raised its holdings in shares of MetLife by 53.3% during the 3rd quarter. Harbor Investment Advisory LLC now owns 794 shares of the financial services provider’s stock worth $65,000 after buying an additional 276 shares in the last quarter. Janney Capital Management LLC lifted its position in shares of MetLife by 2.8% during the 3rd quarter. Janney Capital Management LLC now owns 39,632 shares of the financial services provider’s stock worth $3,265,000 after buying an additional 1,063 shares during the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in MetLife by 10.8% in the third quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 32,213 shares of the financial services provider’s stock valued at $2,653,000 after buying an additional 3,147 shares in the last quarter. Institutional investors own 94.99% of the company’s stock.

MetLife Stock Up 2.0%

Shares of MET opened at $78.61 on Thursday. The stock’s 50-day moving average price is $78.70 and its two-hundred day moving average price is $78.98. MetLife, Inc. has a 12 month low of $65.21 and a 12 month high of $88.09. The company has a market capitalization of $51.79 billion, a PE ratio of 14.80, a PEG ratio of 0.69 and a beta of 0.76. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.54.

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

MetLife Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 3rd will be given a dividend of $0.5675 per share. The ex-dividend date is Tuesday, February 3rd. This represents a $2.27 annualized dividend and a dividend yield of 2.9%. MetLife’s dividend payout ratio is 42.75%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Piper Sandler downgraded MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 target price for the company. in a research note on Friday, September 19th. Mizuho set a $102.00 price objective on shares of MetLife in a research report on Wednesday. Barclays set a $90.00 target price on shares of MetLife in a research report on Thursday, January 8th. Evercore ISI set a $97.00 target price on shares of MetLife and gave the stock an “in-line” rating in a research note on Tuesday, January 6th. Finally, Keefe, Bruyette & Woods cut their price objective on MetLife from $92.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, November 11th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $95.42.

MetLife 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.