Northside Capital Management LLC Makes New $552,000 Investment in MetLife, Inc. $MET

Northside Capital Management LLC purchased a new position in shares of MetLife, Inc. (NYSE:MET) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,863 shares of the financial services provider’s stock, valued at approximately $552,000.

Other hedge funds also recently modified their holdings of the company. North Capital Inc. acquired a new stake in shares of MetLife during the 1st quarter worth about $26,000. Motco boosted its position in shares of MetLife by 105.5% in the first quarter. Motco now owns 413 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 212 shares during the last quarter. Abound Wealth Management boosted its position 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 worth $39,000 after acquiring an additional 424 shares during the last quarter. WPG Advisers LLC acquired a new stake in shares of MetLife in the first quarter worth approximately $46,000. Finally, American National Bank & Trust boosted its position in shares of MetLife by 128.4% in the first quarter. American National Bank & Trust now owns 603 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 339 shares during the last quarter. 94.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MET has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price 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. UBS Group decreased their target price on shares of MetLife from $94.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Keefe, Bruyette & Woods decreased their target price on shares of MetLife from $94.00 to $92.00 and set an “outperform” rating on the stock in a research report on Monday, August 11th. Morgan Stanley decreased their target price on shares of MetLife from $98.00 to $94.00 and set an “overweight” rating on the stock in a research report on Monday, August 18th. Finally, Piper Sandler cut 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. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, MetLife presently has a consensus rating of “Moderate Buy” and an average target price of $94.64.

MetLife Trading Down 0.9%

MET opened at $80.24 on Wednesday. The firm has a market capitalization of $53.36 billion, a P/E ratio of 13.60, a P/E/G ratio of 0.73 and a beta of 0.87. The firm’s 50 day moving average is $78.45 and its 200-day moving average is $78.10. MetLife, Inc. has a 52-week low of $65.21 and a 52-week high of $89.05. 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 (NYSE:MET) last posted its quarterly earnings data 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 firm had revenue of $17.34 billion for the quarter, compared to analysts’ expectations of $18.58 billion. MetLife had a net margin of 5.83% and a return on equity of 19.88%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.28 EPS. Analysts expect 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 was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 5th were paid a dividend of $0.5675 per share. The ex-dividend date was Tuesday, August 5th. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.8%. MetLife’s dividend payout ratio (DPR) is currently 38.47%.

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.