MetLife, Inc. $MET Stock: Kestra Advisory Services LLC Boosts Holdings

Kestra Advisory Services LLC boosted its position in MetLife, Inc. (NYSE:MET) by 14.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 65,008 shares of the financial services provider’s stock after buying an additional 7,993 shares during the period. Kestra Advisory Services LLC’s holdings in MetLife were worth $6,121,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nykredit A S acquired a new stake in shares of MetLife during the second quarter worth $178,638,000. Two Sigma Securities LLC acquired a new position in shares of MetLife in the 2nd quarter valued at about $4,204,000. NewEdge Advisors LLC boosted its holdings in shares of MetLife by 20.1% in the 2nd quarter. NewEdge Advisors LLC now owns 74,002 shares of the financial services provider’s stock valued at $6,261,000 after buying an additional 12,378 shares during the period. OMERS ADMINISTRATION Corp bought a new stake in shares of MetLife during the 2nd quarter valued at about $2,683,000. Finally, Bank of Nova Scotia bought a new stake in shares of MetLife during the 2nd quarter valued at about $14,182,000. Institutional investors and hedge funds own 94.99% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Barclays increased their price objective on shares of MetLife from $97.00 to $111.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 7th. UBS Group lifted their target price on MetLife from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, October 6th. Wall Street Zen lowered MetLife from a “buy” rating to a “hold” rating in a report on Saturday, November 7th. TD Cowen increased their price target on MetLife from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Wednesday, October 21st. Finally, Weiss Ratings upgraded MetLife from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday. Fourteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $106.62.

MetLife Stock Performance

Shares of MET opened at $102.97 on Thursday. MetLife, Inc. has a 1 year low of $67.33 and a 1 year high of $106.72. The company has a market cap of $64.71 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 0.97 and a beta of 0.79. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.20 and a current ratio of 0.21. The firm has a fifty day moving average of $98.57 and a 200-day moving average of $86.65.

MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.01. The business had revenue of $20.52 billion for the quarter, compared to analysts’ expectations of $19.86 billion. MetLife had a net margin of 6.21% and a return on equity of 25.71%. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.34 EPS. As a group, equities analysts anticipate that MetLife, Inc. will post 9.94 earnings per share for the current year.

MetLife Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Tuesday, November 3rd will be given a $0.5925 dividend. The ex-dividend date is Tuesday, November 3rd. This represents a $2.37 annualized dividend and a yield of 2.3%. MetLife’s dividend payout ratio is 30.90%.

MetLife announced that its Board of Directors has approved a stock repurchase plan on Wednesday, August 5th that permits the company to buy back $3 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 4.8% of its shares through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

MetLife Company Profile

MetLife, Inc. is a global financial services company best known for providing insurance, employee benefits and retirement-related products. Its offerings include life, dental and disability insurance, annuities, and products and services designed to help individuals and employers plan for financial protection and retirement. The company serves individuals, businesses and institutions in the United States and international markets, including countries in Latin America, Asia, Europe and the Middle East.