IHT Wealth Management LLC Buys New Stake in Metlife Inc (NYSE:MET)
IHT Wealth Management LLC bought a new stake in shares of Metlife Inc (NYSE:MET) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 4,493 shares of the financial services provider’s stock, valued at approximately $216,000.
Other large investors also recently made changes to their positions in the company. Westside Investment Management Inc. purchased a new stake in shares of Metlife during the 2nd quarter worth $66,000. Greenleaf Trust raised its holdings in Metlife by 76.8% in the second quarter. Greenleaf Trust now owns 13,177 shares of the financial services provider’s stock worth $655,000 after purchasing an additional 5,724 shares in the last quarter. Mcmillion Capital Management Inc. purchased a new stake in shares of Metlife during the second quarter valued at about $2,545,000. Chemical Bank lifted its position in shares of Metlife by 1.1% during the second quarter. Chemical Bank now owns 32,731 shares of the financial services provider’s stock valued at $1,626,000 after buying an additional 370 shares during the last quarter. Finally, Bowling Portfolio Management LLC boosted its holdings in shares of Metlife by 7.9% in the 2nd quarter. Bowling Portfolio Management LLC now owns 9,482 shares of the financial services provider’s stock valued at $471,000 after buying an additional 695 shares in the last quarter. Hedge funds and other institutional investors own 74.68% of the company’s stock.
Several research analysts recently commented on the stock. Morgan Stanley reduced their price objective on shares of Metlife from $54.00 to $53.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 20th. ValuEngine upgraded shares of Metlife from a “strong sell” rating to a “sell” rating in a research note on Monday, November 4th. B. Riley reaffirmed a “neutral” rating on shares of Metlife in a report on Tuesday, October 15th. Zacks Investment Research lowered shares of Metlife from a “hold” rating to a “sell” rating and set a $51.00 price target on the stock. in a report on Wednesday, November 6th. Finally, Citigroup reduced their price target on Metlife from $42.00 to $41.00 and set a “sell” rating on the stock in a research report on Friday, September 13th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $49.51.
Metlife (NYSE:MET) last released its earnings results on Wednesday, October 30th. The financial services provider reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.13). The company had revenue of $16.92 billion during the quarter, compared to analyst estimates of $16.37 billion. Metlife had a return on equity of 8.82% and a net margin of 10.82%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the business earned $1.38 earnings per share. On average, research analysts anticipate that Metlife Inc will post 5.53 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 5th will be paid a dividend of $0.44 per share. The ex-dividend date is Monday, November 4th. This represents a $1.76 dividend on an annualized basis and a yield of 3.64%. Metlife’s payout ratio is 32.65%.
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; 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, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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