3,791 Shares in MetLife, Inc. $MET Acquired by Leo Wealth LLC

Leo Wealth LLC bought a new position in shares of MetLife, Inc. (NYSE:MET) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 3,791 shares of the financial services provider’s stock, valued at approximately $305,000.

Other hedge funds have also added to or reduced their stakes in the company. Kathmere Capital Management LLC boosted its position in MetLife by 88.2% during the 2nd quarter. Kathmere Capital Management LLC now owns 6,328 shares of the financial services provider’s stock worth $509,000 after buying an additional 2,965 shares during the period. First Horizon Advisors Inc. boosted its position in MetLife by 4.8% during the 1st quarter. First Horizon Advisors Inc. now owns 422,684 shares of the financial services provider’s stock worth $33,937,000 after buying an additional 19,192 shares during the period. Ritholtz Wealth Management boosted its position in MetLife by 52.1% during the 1st quarter. Ritholtz Wealth Management now owns 9,355 shares of the financial services provider’s stock worth $751,000 after buying an additional 3,204 shares during the period. Pinnacle Financial Partners Inc acquired a new position in shares of MetLife in the 1st quarter worth approximately $255,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of MetLife by 20.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,785 shares of the financial services provider’s stock worth $4,735,000 after purchasing an additional 10,414 shares during the period. 94.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MET. Piper Sandler downgraded shares of MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 price target on the stock. in a research report on Friday, September 19th. Morgan Stanley boosted their price target on shares of MetLife from $94.00 to $97.00 and gave the stock an “overweight” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of MetLife from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Barclays boosted their price target on shares of MetLife from $93.00 to $98.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Wells Fargo & Company boosted their price target on shares of MetLife from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.18.

MetLife Stock Down 2.6%

MetLife stock opened at $79.88 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.57. MetLife, Inc. has a 12-month low of $65.21 and a 12-month high of $89.05. The firm’s fifty day moving average is $79.68 and its 200 day moving average is $78.16. The company has a market capitalization of $53.12 billion, a PE ratio of 13.54, a PEG ratio of 0.74 and a beta of 0.86.

MetLife (NYSE:MET) last released its earnings results on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.30). The company had revenue of $17.34 billion for the quarter, compared to analyst estimates of $18.58 billion. MetLife had a net margin of 5.83% and a return on equity of 19.88%. The firm’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.28 EPS. As a group, sell-side analysts predict that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 4th will be paid a dividend of $0.5675 per share. This represents a $2.27 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Tuesday, November 4th. MetLife’s payout ratio is 38.47%.

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.