Arkadios Wealth Advisors Has $60,000 Position in MetLife, Inc. (NYSE:MET)
Arkadios Wealth Advisors boosted its position in MetLife, Inc. (NYSE:MET) by 21.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,521 shares of the financial services provider’s stock after purchasing an additional 273 shares during the quarter. Arkadios Wealth Advisors’ holdings in MetLife were worth $60,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Flagship Harbor Advisors LLC increased its holdings in shares of MetLife by 36.5% during the second quarter. Flagship Harbor Advisors LLC now owns 1,844 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 493 shares during the period. RMR Wealth Builders bought a new position in MetLife during the 2nd quarter worth $68,000. Harbor Investment Advisory LLC lifted its position in shares of MetLife by 22.6% during the 3rd quarter. Harbor Investment Advisory LLC now owns 2,070 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 382 shares during the period. MCF Advisors LLC bought a new stake in shares of MetLife during the 2nd quarter valued at $80,000. Finally, Nachman Norwood & Parrott Inc acquired a new stake in shares of MetLife during the 3rd quarter worth $93,000. 74.92% of the stock is currently owned by hedge funds and other institutional investors.
MET has been the topic of a number of analyst reports. Argus reiterated a “buy” rating on shares of MetLife in a research note on Wednesday, August 19th. TheStreet upgraded shares of MetLife from a “c+” rating to a “b” rating in a report on Thursday, November 5th. Barclays assumed coverage on MetLife in a report on Tuesday, November 17th. They set an “overweight” rating and a $52.00 price objective on the stock. Morgan Stanley boosted their price objective on MetLife from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Wells Fargo & Company reiterated a “buy” rating and issued a $45.00 target price on shares of MetLife in a research report on Thursday, August 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $44.88.
MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.08. The firm had revenue of $16.51 billion for the quarter, compared to analyst estimates of $16 billion. MetLife had a return on equity of 8.25% and a net margin of 8.82%. The business’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.27 EPS. Research analysts expect that MetLife, Inc. will post 5.63 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 14th. Investors of record on Tuesday, November 3rd will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date of this dividend is Monday, November 2nd. MetLife’s dividend payout ratio is currently 30.11%.
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses worldwide. 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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