Summit Financial Wealth Advisors LLC Has $1.12 Million Holdings in MetLife, Inc. (MET)
Summit Financial Wealth Advisors LLC raised its stake in shares of MetLife, Inc. (NYSE:MET) by 30.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,432 shares of the financial services provider’s stock after purchasing an additional 4,788 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in MetLife were worth $1,123,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Waldron LP increased its stake in shares of MetLife by 5.1% in the first quarter. Waldron LP now owns 6,492 shares of the financial services provider’s stock worth $342,000 after purchasing an additional 315 shares during the period. RNC Capital Management LLC boosted its stake in MetLife by 4.8% during the 1st quarter. RNC Capital Management LLC now owns 410,956 shares of the financial services provider’s stock valued at $21,707,000 after purchasing an additional 18,923 shares during the period. Birmingham Capital Management Co. Inc. AL boosted its stake in MetLife by 61.0% during the 1st quarter. Birmingham Capital Management Co. Inc. AL now owns 10,950 shares of the financial services provider’s stock valued at $578,000 after purchasing an additional 4,150 shares during the period. Alethea Capital Management LLC bought a new stake in MetLife during the 1st quarter valued at approximately $2,168,000. Finally, Karp Capital Management Corp bought a new stake in MetLife during the 1st quarter valued at approximately $24,439,000. Institutional investors own 74.27% of the company’s stock.
MetLife, Inc. (NYSE MET) opened at 52.40 on Wednesday. MetLife, Inc. has a 52-week low of $40.14 and a 52-week high of $52.42. The company’s 50 day moving average price is $48.70 and its 200 day moving average price is $47.55. The company has a market cap of $55.69 billion, a P/E ratio of 616.47 and a beta of 1.47.
MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.02. The business had revenue of $17.39 billion during the quarter, compared to analyst estimates of $17.11 billion. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.83 EPS. Equities research analysts anticipate that MetLife, Inc. will post $4.81 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Monday, August 7th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.05%. MetLife’s payout ratio is 1,777.98%.
A number of research analysts have recently commented on MET shares. ValuEngine upgraded MetLife from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Citigroup Inc. set a $51.00 price objective on shares of MetLife and gave the stock a “sell” rating in a research note on Friday, July 7th. Royal Bank Of Canada restated a “buy” rating and issued a $56.00 price objective on shares of MetLife in a research note on Wednesday, September 6th. BidaskClub raised shares of MetLife from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. Finally, UBS AG reaffirmed a “neutral” rating and set a $49.00 target price (down previously from $57.00) on shares of MetLife in a research report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. MetLife has an average rating of “Buy” and an average price target of $57.74.
MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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