A. D. Beadell Investment Counsel Inc. Invests $288,000 in MetLife, Inc. $MET

A. D. Beadell Investment Counsel Inc. bought a new position in shares of MetLife, Inc. (NYSE:MET) during the second quarter, Holdings Channel reports. The fund bought 3,590 shares of the financial services provider’s stock, valued at approximately $288,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Dakota Wealth Management increased its holdings in MetLife by 18.6% during the 2nd quarter. Dakota Wealth Management now owns 5,958 shares of the financial services provider’s stock worth $479,000 after acquiring an additional 935 shares during the period. TD Private Client Wealth LLC increased its holdings in MetLife by 7.6% during the 2nd quarter. TD Private Client Wealth LLC now owns 68,219 shares of the financial services provider’s stock worth $5,486,000 after acquiring an additional 4,829 shares during the period. Foster Victor Wealth Advisors LLC increased its holdings in MetLife by 2.1% during the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 137,966 shares of the financial services provider’s stock worth $10,794,000 after acquiring an additional 2,875 shares during the period. Northside Capital Management LLC bought a new stake in MetLife during the 2nd quarter worth approximately $552,000. Finally, Ballentine Partners LLC lifted its position in MetLife by 27.7% during the second quarter. Ballentine Partners LLC now owns 18,149 shares of the financial services provider’s stock valued at $1,460,000 after purchasing an additional 3,942 shares during the last quarter. Institutional investors own 94.99% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on MET. Keefe, Bruyette & Woods dropped their target price on shares of MetLife from $94.00 to $92.00 and set an “outperform” rating for the company in a research report on Monday, August 11th. Piper Sandler lowered shares of MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 target price for the company. in a research report on Friday, September 19th. Wells Fargo & Company reiterated an “overweight” rating and set a $97.00 target price (up from $94.00) on shares of MetLife in a research report on Thursday, July 10th. Cowen reiterated a “buy” rating on shares of MetLife in a research report on Friday, August 22nd. Finally, Barclays increased their price target on shares of MetLife from $88.00 to $94.00 and gave the company an “overweight” rating in a research report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $94.64.

MetLife Stock Performance

Shares of MET stock opened at $80.28 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.16 and a current ratio of 0.16. MetLife, Inc. has a fifty-two week low of $65.21 and a fifty-two week high of $89.05. The stock has a 50 day moving average price of $78.59 and a two-hundred day moving average price of $78.12. The company has a market capitalization of $53.39 billion, a P/E ratio of 13.61, a PEG ratio of 0.73 and a beta of 0.87.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($0.30). The company had revenue of $17.34 billion during the quarter, compared to the consensus estimate of $18.58 billion. MetLife had a net margin of 5.83% and a return on equity of 19.88%. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.28 EPS. Analysts expect that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 5th were given a $0.5675 dividend. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Tuesday, August 5th. MetLife’s dividend payout ratio (DPR) is currently 38.47%.

MetLife Company 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.