Prime Capital Investment Advisors LLC Sells 1,259 Shares of MetLife, Inc. $MET

Prime Capital Investment Advisors LLC cut its position in shares of MetLife, Inc. (NYSE:MET) by 12.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,564 shares of the financial services provider’s stock after selling 1,259 shares during the period. Prime Capital Investment Advisors LLC’s holdings in MetLife were worth $689,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Belpointe Asset Management LLC increased its position in shares of MetLife by 5.8% during the second quarter. Belpointe Asset Management LLC now owns 9,394 shares of the financial services provider’s stock valued at $755,000 after purchasing an additional 516 shares during the period. Valeo Financial Advisors LLC boosted its stake in MetLife by 4.3% in the 2nd quarter. Valeo Financial Advisors LLC now owns 10,823 shares of the financial services provider’s stock valued at $870,000 after buying an additional 445 shares in the last quarter. Simplicity Wealth LLC boosted its stake in MetLife by 91.7% in the 2nd quarter. Simplicity Wealth LLC now owns 13,897 shares of the financial services provider’s stock valued at $1,118,000 after buying an additional 6,649 shares in the last quarter. OLD National Bancorp IN acquired a new stake in MetLife in the 2nd quarter valued at $219,000. Finally, Wealthcare Advisory Partners LLC boosted its stake in MetLife by 6.9% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 5,759 shares of the financial services provider’s stock valued at $463,000 after buying an additional 370 shares in the last quarter. 94.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on MET shares. Piper Sandler lowered MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 price target on the stock. in a research note on Friday, September 19th. JPMorgan Chase & Co. boosted their price target on MetLife from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of MetLife in a research note on Wednesday. Cowen reaffirmed a “buy” rating on shares of MetLife in a research note on Friday, August 22nd. Finally, Morgan Stanley boosted their price objective on MetLife from $94.00 to $97.00 and gave the stock an “overweight” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $95.18.

MetLife Trading Down 0.1%

MET stock opened at $81.94 on Friday. The company has a market cap of $54.49 billion, a P/E ratio of 13.89, a PEG ratio of 0.74 and a beta of 0.86. MetLife, Inc. has a twelve month low of $65.21 and a twelve month high of $89.05. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.57. The business has a fifty day moving average of $79.56 and a 200-day moving average of $78.18.

MetLife (NYSE:MET) last released its earnings results on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.30). The firm had revenue of $17.34 billion for the quarter, compared to the consensus estimate of $18.58 billion. MetLife had a return on equity of 19.88% and a net margin of 5.83%.The company’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.28 EPS. As a group, equities research analysts expect that MetLife, Inc. will post 9.65 EPS for the current year.

MetLife Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 4th will be issued a $0.5675 dividend. This represents a $2.27 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Tuesday, November 4th. MetLife’s dividend payout ratio is currently 38.47%.

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.