MetLife, Inc. $MET Shares Purchased by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC boosted its holdings in shares of MetLife, Inc. (NYSE:MET) by 73.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 14,764 shares of the financial services provider’s stock after buying an additional 6,228 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in MetLife were worth $1,044,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Activest Wealth Management increased its holdings in shares of MetLife by 205.8% during the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 212 shares in the last quarter. Vermillion & White Wealth Management Group LLC grew its position in MetLife by 790.0% during the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 316 shares during the last quarter. Sound Income Strategies LLC increased its stake in MetLife by 58.9% during the 4th quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 142 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new position in shares of MetLife in the fourth quarter worth $30,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of MetLife in the fourth quarter worth $31,000. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Stock Performance

NYSE MET opened at $90.43 on Tuesday. The stock has a 50-day simple moving average of $83.11 and a two-hundred day simple moving average of $78.31. The firm has a market capitalization of $58.19 billion, a P/E ratio of 17.53, a PEG ratio of 0.68 and a beta of 0.78. MetLife, Inc. has a fifty-two week low of $67.33 and a fifty-two week high of $91.25. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.20 and a current ratio of 0.20.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $2.42 EPS for the quarter, topping the consensus estimate of $2.27 by $0.15. The firm had revenue of $14.18 billion for the quarter, compared to analyst estimates of $19.49 billion. MetLife had a return on equity of 22.60% and a net margin of 4.66%.MetLife’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $1.96 earnings per share. On average, equities analysts forecast that MetLife, Inc. will post 9.98 earnings per share for the current year.

MetLife Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 12th were issued a dividend of $0.5925 per share. This is a positive change from MetLife’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.37 annualized dividend and a dividend yield of 2.6%. MetLife’s payout ratio is presently 45.93%.

Wall Street Analysts Forecast Growth

MET has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of MetLife from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Bank of America lowered their price target on MetLife from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Evercore set a $96.00 price objective on MetLife in a report on Thursday, April 9th. JPMorgan Chase & Co. upped their target price on MetLife from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Finally, UBS Group increased their price target on shares of MetLife from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $96.38.

MetLife Profile

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.