TRUE Private Wealth Advisors Cuts Stake in MetLife, Inc. $MET

TRUE Private Wealth Advisors lessened its stake in MetLife, Inc. (NYSE:MET) by 22.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,134 shares of the financial services provider’s stock after selling 909 shares during the quarter. TRUE Private Wealth Advisors’ holdings in MetLife were worth $252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quaker Wealth Management LLC lifted its position in MetLife by 198.2% in the 2nd quarter. Quaker Wealth Management LLC now owns 333 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 672 shares in the last quarter. Motco raised its stake in shares of MetLife by 105.5% in the first quarter. Motco now owns 413 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 212 shares during the last quarter. MTM Investment Management LLC bought a new position in shares of MetLife during the second quarter valued at $37,000. GFG Capital LLC purchased a new stake in shares of MetLife during the second quarter valued at $38,000. Finally, Abound Wealth Management increased its holdings in MetLife by 652.3% in the 2nd quarter. Abound Wealth Management now owns 489 shares of the financial services provider’s stock worth $39,000 after buying an additional 424 shares in the last quarter. Institutional investors own 94.99% of the company’s stock.

MetLife Price Performance

NYSE MET opened at $74.75 on Thursday. The stock has a market cap of $49.25 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 0.70 and a beta of 0.87. MetLife, Inc. has a 12 month low of $65.21 and a 12 month high of $89.05. The company’s 50 day moving average is $79.57 and its two-hundred day moving average is $78.92. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.57.

MetLife (NYSE:MET) last announced 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 net margin of 5.83% and a return on equity of 19.88%. The firm had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $18.64 billion. During the same period in the prior year, the company posted $1.95 earnings per share. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. As a group, research analysts anticipate that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 4th will be paid a dividend of $0.5675 per share. This represents a $2.27 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, November 4th. MetLife’s dividend payout ratio (DPR) is 42.75%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MET shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of MetLife in a research note on Monday. Cowen reaffirmed a “buy” rating on shares of MetLife in a research report on Friday, August 22nd. Barclays raised their price target on MetLife from $93.00 to $98.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Piper Sandler downgraded MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 price target for the company. in a research note on Friday, September 19th. Finally, Jefferies Financial Group increased their price objective on shares of MetLife from $100.00 to $103.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $95.00.

MetLife Profile

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; 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, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.