Oppenheimer Asset Management Inc. Sells 1,444 Shares of MetLife, Inc. $MET

Oppenheimer Asset Management Inc. lessened its holdings in MetLife, Inc. (NYSE:MET) by 1.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,737 shares of the financial services provider’s stock after selling 1,444 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in MetLife were worth $8,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. North Capital Inc. bought a new position in MetLife during the first quarter valued at about $26,000. Motco grew its position in shares of MetLife by 105.5% during the 1st quarter. Motco now owns 413 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 212 shares during the period. GFG Capital LLC bought a new position in shares of MetLife during the 2nd quarter valued at approximately $38,000. Abound Wealth Management grew its holdings in MetLife by 652.3% during the second quarter. Abound Wealth Management now owns 489 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 424 shares during the period. Finally, Legend Financial Advisors Inc. bought a new position in MetLife during the second quarter valued at $40,000. Institutional investors own 94.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Piper Sandler downgraded MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 price target for the company. in a research note on Friday, September 19th. Wells Fargo & Company increased their target price on shares of MetLife from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of MetLife in a research report on Wednesday, October 8th. Morgan Stanley increased their target price on shares of MetLife from $94.00 to $97.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Finally, Jefferies Financial Group raised their price objective on shares of MetLife from $100.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, MetLife presently has an average rating of “Moderate Buy” and an average target price of $95.18.

MetLife Stock Up 0.3%

Shares of NYSE:MET opened at $78.89 on Tuesday. The firm has a fifty day moving average price of $80.40 and a two-hundred day moving average price of $78.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.16 and a quick ratio of 0.16. MetLife, Inc. has a one year low of $65.21 and a one year high of $89.05. The company has a market cap of $52.47 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 0.71 and a beta of 0.86.

MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.30). The business had revenue of $17.34 billion for the quarter, compared to the consensus estimate of $18.58 billion. MetLife had a net margin of 5.83% and a return on equity of 19.88%. MetLife’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.28 EPS. Analysts anticipate that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 4th will be given a dividend of $0.5675 per share. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Tuesday, November 4th. MetLife’s dividend payout ratio (DPR) is 38.47%.

MetLife Company Profile

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.