MetLife, Inc. (NYSE:MET) Shares Sold by Allworth Financial LP

Posted by Defense World Staff on Oct 2nd, 2023

Allworth Financial LP lessened its holdings in MetLife, Inc. (NYSE:MET – Free Report) by 24.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,809 shares of the financial services provider’s stock after selling 1,874 shares during the period. Allworth Financial LP’s holdings in MetLife were worth $328,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Jones Financial Companies Lllp acquired a new position in MetLife during the 1st quarter worth about $26,000. Quintet Private Bank Europe S.A. acquired a new position in MetLife during the 1st quarter worth about $26,000. FWL Investment Management LLC purchased a new stake in MetLife during the 4th quarter worth about $26,000. Eagle Bay Advisors LLC purchased a new stake in MetLife during the 2nd quarter worth about $28,000. Finally, Studio Investment Management LLC purchased a new position in shares of MetLife in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 88.14% of the company’s stock.

MetLife Price Performance

Shares of MetLife stock opened at $62.91 on Monday. MetLife, Inc. has a twelve month low of $48.95 and a twelve month high of $77.36. The stock has a market capitalization of $47.31 billion, a P/E ratio of 24.48, a PEG ratio of 0.62 and a beta of 1.08. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.50. The business’s fifty day moving average price is $63.32 and its 200 day moving average price is $58.64.

MetLife (NYSE:MET – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.09. MetLife had a return on equity of 17.42% and a net margin of 3.14%. The firm had revenue of $16.62 billion for the quarter, compared to analysts’ expectations of $16.91 billion. During the same quarter last year, the firm earned $2.00 earnings per share. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, research analysts anticipate that MetLife, Inc. will post 7.78 earnings per share for the current year.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Tuesday, August 8th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.31%. The ex-dividend date was Monday, August 7th. MetLife’s dividend payout ratio (DPR) is 80.93%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MET shares. TheStreet upgraded MetLife from a “c+” rating to a “b-” rating in a report on Thursday, August 10th. Citigroup raised their price target on MetLife from $76.00 to $81.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. StockNews.com began coverage on MetLife in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Argus raised their price target on MetLife from $70.00 to $77.00 and gave the stock a “buy” rating in a research note on Monday, August 14th. Finally, Wells Fargo & Company raised their price target on MetLife from $82.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 15th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, MetLife presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.40.

Get Our Latest Research Report on MetLife

Insider Buying and Selling

In related news, EVP Marlene Debel sold 9,391 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $63.18, for a total value of $593,323.38. Following the transaction, the executive vice president now owns 77,638 shares in the company, valued at $4,905,168.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.32% of the company’s stock.

MetLife Company Profile

(Free Report)

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through five segments: U.S.; 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.