SteelPeak Wealth LLC Decreases Holdings in MetLife, Inc. (NYSE:MET)

SteelPeak Wealth LLC cut its position in shares of MetLife, Inc. (NYSE:MET) by 7.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,518 shares of the financial services provider’s stock after selling 2,210 shares during the quarter. SteelPeak Wealth LLC’s holdings in MetLife were worth $2,270,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. National Bank of Canada FI raised its stake in shares of MetLife by 54.9% during the 1st quarter. National Bank of Canada FI now owns 371,062 shares of the financial services provider’s stock worth $26,983,000 after buying an additional 131,538 shares during the last quarter. PFG Investments LLC raised its position in MetLife by 8.9% during the third quarter. PFG Investments LLC now owns 6,360 shares of the financial services provider’s stock worth $525,000 after acquiring an additional 520 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of MetLife in the first quarter valued at about $1,053,000. Entropy Technologies LP grew its position in shares of MetLife by 38.3% in the first quarter. Entropy Technologies LP now owns 30,473 shares of the financial services provider’s stock valued at $2,258,000 after purchasing an additional 8,440 shares during the last quarter. Finally, M&G Plc purchased a new position in shares of MetLife during the 2nd quarter worth approximately $2,346,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on MET. Piper Sandler increased their target price on MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Bank of America dropped their price objective on MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Wells Fargo & Company upped their target price on shares of MetLife from $86.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods lowered their price target on shares of MetLife from $86.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, July 8th. Finally, Barclays started coverage on shares of MetLife in a research note on Wednesday, September 4th. They set an “overweight” rating and a $91.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, MetLife presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.46.

MetLife Stock Performance

Shares of MET stock opened at $83.22 on Thursday. The firm has a market capitalization of $58.28 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 0.70 and a beta of 1.04. The company has a 50 day moving average price of $80.41 and a 200 day moving average price of $74.75. MetLife, Inc. has a one year low of $58.89 and a one year high of $86.94. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.16 and a current ratio of 0.16.

MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.15. MetLife had a return on equity of 21.41% and a net margin of 4.23%. The business had revenue of $17.82 billion during the quarter, compared to the consensus estimate of $18.57 billion. During the same period in the prior year, the firm posted $1.94 EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Sell-side analysts anticipate that MetLife, Inc. will post 8.58 EPS for the current year.

MetLife Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be issued a $0.545 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.62%. MetLife’s dividend payout ratio (DPR) is 58.76%.

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.