Texas Permanent School Fund Corp Has $4.81 Million Stock Holdings in MetLife, Inc. $MET

Texas Permanent School Fund Corp decreased its position in MetLife, Inc. (NYSE:MET) by 29.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 59,803 shares of the financial services provider’s stock after selling 24,690 shares during the quarter. Texas Permanent School Fund Corp’s holdings in MetLife were worth $4,809,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Quaker Wealth Management LLC grew its stake in MetLife by 198.2% during the second quarter. Quaker Wealth Management LLC now owns 333 shares of the financial services provider’s stock worth $27,000 after buying an additional 672 shares during the last quarter. Evolution Wealth Management Inc. acquired a new position in shares of MetLife in the 2nd quarter worth approximately $35,000. MTM Investment Management LLC bought a new stake in MetLife during the 2nd quarter worth approximately $37,000. GFG Capital LLC bought a new position in MetLife in the 2nd quarter valued at $38,000. Finally, Abound Wealth Management raised its position in MetLife by 652.3% in the 2nd 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. 94.99% of the stock is owned by institutional investors.

MetLife Stock Up 0.3%

Shares of NYSE:MET opened at $82.55 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.18 and a quick ratio of 0.18. The stock has a market cap of $54.39 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 0.79 and a beta of 0.76. The company has a 50 day moving average of $78.48 and a 200-day moving average of $78.84. MetLife, Inc. has a one year low of $65.21 and a one year high of $88.09.

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, beating analysts’ consensus estimates of $2.30 by $0.07. MetLife had a net margin of 5.30% and a return on equity of 21.00%. The firm had revenue of $12.46 billion for the quarter, compared to analysts’ expectations of $18.64 billion. During the same period last year, the firm earned $1.95 earnings per share. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. On average, sell-side analysts forecast that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Tuesday, November 4th were paid a dividend of $0.5675 per share. The ex-dividend date of this dividend was Tuesday, November 4th. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.8%. MetLife’s payout ratio is 42.75%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods lowered their target price on MetLife from $92.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, November 11th. Cowen restated a “buy” rating on shares of MetLife in a research report on Friday, August 22nd. Wolfe Research upgraded shares of MetLife to a “strong-buy” rating in a research report on Tuesday, September 16th. UBS Group lowered their price target on shares of MetLife from $96.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Finally, Wells Fargo & Company dropped their price objective on shares of MetLife from $96.00 to $92.00 and set an “overweight” rating for the company in a research report on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $95.55.

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.