PFG Advisors Takes $236,000 Position in MetLife, Inc. $MET

PFG Advisors purchased a new stake in shares of MetLife, Inc. (NYSE:MET) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 2,936 shares of the financial services provider’s stock, valued at approximately $236,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Csenge Advisory Group grew its stake in shares of MetLife by 1.0% during the first quarter. Csenge Advisory Group now owns 13,647 shares of the financial services provider’s stock valued at $1,096,000 after acquiring an additional 131 shares in the last quarter. Delta Investment Management LLC boosted its holdings in MetLife by 0.9% in the first quarter. Delta Investment Management LLC now owns 14,265 shares of the financial services provider’s stock valued at $1,145,000 after purchasing an additional 133 shares during the last quarter. Ignite Planners LLC grew its stake in MetLife by 2.2% during the 2nd quarter. Ignite Planners LLC now owns 6,366 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 136 shares in the last quarter. Glenview Trust co increased its holdings in MetLife by 0.4% during the 1st quarter. Glenview Trust co now owns 38,333 shares of the financial services provider’s stock worth $3,078,000 after purchasing an additional 141 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of MetLife by 1.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 14,902 shares of the financial services provider’s stock valued at $1,198,000 after purchasing an additional 148 shares in the last quarter. Institutional investors and hedge funds own 94.99% of the company’s stock.

MetLife Trading Up 3.1%

NYSE MET opened at $80.17 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.16 and a current ratio of 0.16. MetLife, Inc. has a one year low of $65.21 and a one year high of $89.05. The company has a 50-day simple moving average of $79.89 and a 200-day simple moving average of $78.90. The firm has a market capitalization of $52.82 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 0.70 and a beta of 0.87.

MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.07. MetLife had a net margin of 5.83% and a return on equity of 19.88%. The firm had revenue of $12.46 billion for the quarter, compared to analyst estimates of $18.64 billion. During the same quarter in the prior year, the business earned $1.95 earnings per share. MetLife’s quarterly revenue was down 5.9% on a year-over-year basis. On average, equities 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 will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 4th will be given a dividend of $0.5675 per share. The ex-dividend date is Tuesday, November 4th. This represents a $2.27 dividend on an annualized basis and a yield of 2.8%. MetLife’s payout ratio is currently 42.75%.

Analyst Ratings Changes

A number of brokerages recently issued reports on MET. Jefferies Financial Group lifted their price target on shares of MetLife from $100.00 to $103.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Wells Fargo & Company dropped their target price 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. UBS Group reduced their price target on shares of MetLife from $96.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Cowen reiterated a “buy” rating on shares of MetLife in a research note on Friday, August 22nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of MetLife in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, MetLife presently has an average rating of “Moderate Buy” and an average target price of $95.00.

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.