Linscomb Wealth Inc. Increases Position in MetLife, Inc. $MET

Linscomb Wealth Inc. increased its stake in MetLife, Inc. (NYSE:MET) by 0.9% in the second quarter, Holdings Channel reports. The institutional investor owned 124,180 shares of the financial services provider’s stock after acquiring an additional 1,164 shares during the quarter. Linscomb Wealth Inc.’s holdings in MetLife were worth $9,987,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. North Capital Inc. bought a new stake in shares of MetLife during the 1st quarter valued at about $26,000. Quaker Wealth Management LLC grew its stake in shares of MetLife by 198.2% in the second quarter. Quaker Wealth Management LLC now owns 333 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 672 shares in the last quarter. Motco grew its position in MetLife by 105.5% in the 1st quarter. Motco now owns 413 shares of the financial services provider’s stock valued at $33,000 after buying an additional 212 shares in the last quarter. GFG Capital LLC bought a new position in shares of MetLife in the second quarter valued at approximately $38,000. Finally, Abound Wealth Management boosted its stake in MetLife by 652.3% during the second quarter. Abound Wealth Management now owns 489 shares of the financial services provider’s stock valued at $39,000 after buying an additional 424 shares in the last quarter. 94.99% of the stock is currently owned by institutional investors.

MetLife Stock Performance

Shares of MetLife stock opened at $79.16 on Friday. The stock has a market cap of $52.64 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 0.70 and a beta of 0.86. The business has a fifty day simple moving average of $80.39 and a 200-day simple moving average of $78.54. 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.

MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $2.02 EPS for the quarter, missing the consensus estimate 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 return on equity of 19.88% and a net margin of 5.83%.The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.28 earnings per share. On average, sell-side analysts anticipate that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Cowen restated a “buy” rating on shares of MetLife in a research report on Friday, August 22nd. Barclays raised their target price on shares of MetLife from $93.00 to $98.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Jefferies Financial Group raised their target price on shares of MetLife from $100.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, August 11th. Weiss Ratings restated a “buy (b)” rating on shares of MetLife in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their price objective on MetLife from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. One investment 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.com, MetLife currently has a consensus rating of “Moderate Buy” and an average price target of $95.18.

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.