Carnegie Investment Counsel Has $414,000 Stake in MetLife, Inc. $MET

Carnegie Investment Counsel trimmed its position in shares of MetLife, Inc. (NYSE:MET) by 7.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,150 shares of the financial services provider’s stock after selling 400 shares during the period. Carnegie Investment Counsel’s holdings in MetLife were worth $414,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. North Capital Inc. acquired a new position in shares of MetLife in the first quarter valued at $26,000. Motco increased its holdings in shares of MetLife by 105.5% in the first quarter. Motco now owns 413 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 212 shares during the last quarter. GFG Capital LLC acquired a new position in shares of MetLife in the second quarter valued at $38,000. Abound Wealth Management increased its holdings in shares of MetLife by 652.3% in the second quarter. Abound Wealth Management now owns 489 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 424 shares during the last quarter. Finally, Legend Financial Advisors Inc. acquired a new position in shares of MetLife in the second quarter valued at $40,000. 94.99% of the stock is currently owned by institutional investors and hedge funds.

MetLife Stock Up 0.7%

MET stock opened at $78.71 on Monday. The stock has a market capitalization of $52.34 billion, a P/E ratio of 13.34, a price-to-earnings-growth ratio of 0.71 and a beta of 0.86. 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, Inc. has a 12 month low of $65.21 and a 12 month high of $89.05. The firm has a 50-day moving average price of $80.37 and a 200-day moving average price of $78.40.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $2.02 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.30). MetLife had a return on equity of 19.88% and a net margin of 5.83%.The company had revenue of $17.34 billion during the quarter, compared to the consensus estimate of $18.58 billion. During the same period last year, the company posted $2.28 EPS. The firm’s revenue was down 2.7% compared to the same quarter last year. As a group, equities research analysts anticipate that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 4th will be paid a $0.5675 dividend. The ex-dividend date of this dividend is Tuesday, November 4th. This represents a $2.27 annualized dividend and a dividend yield of 2.9%. MetLife’s dividend payout ratio is currently 38.47%.

Wall Street Analyst Weigh In

Several equities analysts have commented on MET shares. Cowen reiterated a “buy” rating on shares of MetLife in a report on Friday, August 22nd. Jefferies Financial Group upped their price target on shares of MetLife from $100.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, August 11th. JPMorgan Chase & Co. upped their price target on shares of MetLife from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. UBS Group decreased their price target on shares of MetLife from $94.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Finally, Wells Fargo & Company upped their price target on shares of MetLife from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.18.

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.