IFG Advisory LLC Makes New Investment in MetLife, Inc. (NYSE:MET)

Posted by on Apr 16th, 2023

IFG Advisory LLC bought a new position in shares of MetLife, Inc. (NYSE:MET – Get Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,180 shares of the financial services provider’s stock, valued at approximately $230,000.

Several other large investors also recently bought and sold shares of MET. Center for Financial Planning Inc. purchased a new stake in shares of MetLife in the 3rd quarter valued at $25,000. Eagle Bay Advisors LLC purchased a new stake in shares of MetLife in the 2nd quarter valued at $28,000. First Personal Financial Services purchased a new stake in shares of MetLife in the 3rd quarter valued at $30,000. Legend Financial Advisors Inc. purchased a new stake in shares of MetLife in the 3rd quarter valued at $30,000. Finally, SJS Investment Consulting Inc. purchased a new stake in shares of MetLife in the 3rd quarter valued at $31,000. Hedge funds and other institutional investors own 88.15% of the company’s stock.

MetLife Stock Performance

NYSE:MET opened at $60.62 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.13 and a current ratio of 0.13. The company has a fifty day moving average of $64.07 and a two-hundred day moving average of $68.80. The stock has a market capitalization of $46.94 billion, a PE ratio of 20.69, a P/E/G ratio of 0.54 and a beta of 1.05. MetLife, Inc. has a fifty-two week low of $52.83 and a fifty-two week high of $77.36.

MetLife (NYSE:MET – Get Rating) last issued its earnings results on Wednesday, February 1st. The financial services provider reported $1.55 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.19). The business had revenue of $15.84 billion during the quarter, compared to analyst estimates of $17.21 billion. MetLife had a net margin of 3.63% and a return on equity of 15.64%. MetLife’s quarterly revenue was down 21.6% on a year-over-year basis. During the same quarter last year, the company earned $2.17 earnings per share. As a group, research analysts forecast that MetLife, Inc. will post 8.25 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Bill Pappas sold 11,345 shares of the stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $71.96, for a total value of $816,386.20. Following the completion of the sale, the executive vice president now directly owns 46,231 shares in the company, valued at $3,326,782.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

MET has been the subject of several analyst reports. StockNews.com initiated coverage on shares of MetLife in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Barclays decreased their target price on shares of MetLife from $83.00 to $79.00 and set an “overweight” rating for the company in a research note on Wednesday. Morgan Stanley decreased their target price on shares of MetLife from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of MetLife from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, January 6th. Finally, Wells Fargo & Company decreased their target price on shares of MetLife from $84.00 to $72.00 and set an “overweight” rating for the company in a research note on Wednesday, April 5th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.09.

MetLife Profile

(Get Rating)

MetLife, Inc provides insurance and financial services to individual and institutional customers. It offers life insurance, annuities, automobile and homeowner’s insurance and retail banking services to individuals as well as group insurance, reinsurance and retirement and savings products and services.

See Also

Institutional Ownership by Quarter for MetLife (NYSE:MET)

Receive News & Ratings for MetLife Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MetLife and related companies with MarketBeat.com's FREE daily email newsletter.