Cary Street Partners Financial LLC Acquires 6,548 Shares of MetLife, Inc. $MET

Cary Street Partners Financial LLC grew its stake in MetLife, Inc. (NYSE:MET) by 26.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,856 shares of the financial services provider’s stock after purchasing an additional 6,548 shares during the period. Cary Street Partners Financial LLC’s holdings in MetLife were worth $2,481,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its position in MetLife by 7.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,488,146 shares of the financial services provider’s stock valued at $2,126,734,000 after acquiring an additional 1,824,907 shares during the period. Norges Bank acquired a new stake in shares of MetLife in the 2nd quarter valued at $756,104,000. Pzena Investment Management LLC grew its holdings in shares of MetLife by 6.8% in the 2nd quarter. Pzena Investment Management LLC now owns 9,144,635 shares of the financial services provider’s stock worth $735,412,000 after purchasing an additional 585,671 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of MetLife by 3.6% during the 1st quarter. Ameriprise Financial Inc. now owns 7,406,512 shares of the financial services provider’s stock worth $594,410,000 after purchasing an additional 259,993 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in MetLife by 0.8% during the 1st quarter. Northern Trust Corp now owns 7,109,423 shares of the financial services provider’s stock valued at $570,816,000 after purchasing an additional 57,221 shares during the last quarter. Institutional investors own 94.99% of the company’s stock.

Wall Street Analysts Forecast Growth

MET has been the topic of several research analyst reports. Wolfe Research raised shares of MetLife to a “strong-buy” rating in a research note on Tuesday, September 16th. UBS Group decreased their price target on MetLife from $96.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Wells Fargo & Company cut their price objective on MetLife from $96.00 to $92.00 and set an “overweight” rating for the company in a research report on Friday, November 7th. Jefferies Financial Group boosted their price objective on MetLife from $100.00 to $103.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $94.60.

MetLife Stock Down 0.8%

Shares of MET opened at $78.07 on Tuesday. The firm has a market capitalization of $51.44 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 0.76 and a beta of 0.76. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.18 and a current ratio of 0.18. The business’s fifty day moving average price is $78.59 and its two-hundred day moving average price is $78.69. MetLife, Inc. has a 52 week low of $65.21 and a 52 week high of $88.09.

MetLife (NYSE:MET) last released its earnings results on Wednesday, November 5th. The financial services provider reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.07. The company had revenue of $12.46 billion during the quarter, compared to the consensus estimate of $18.64 billion. MetLife had a return on equity of 21.00% and a net margin of 5.30%.The firm’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.95 earnings per share. On average, analysts predict that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 4th will be paid a $0.5675 dividend. This represents a $2.27 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, November 4th. MetLife’s dividend payout ratio (DPR) is 42.75%.

About MetLife

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.