MetLife, Inc. $MET Shares Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lessened its position in MetLife, Inc. (NYSE:MET) by 22.4% in the third quarter, HoldingsChannel reports. The firm owned 20,772 shares of the financial services provider’s stock after selling 5,995 shares during the quarter. Verdence Capital Advisors LLC’s holdings in MetLife were worth $1,956,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MET. Leo Wealth LLC purchased a new position in MetLife during the third quarter valued at $236,000. Apollon Wealth Management LLC boosted its holdings in shares of MetLife by 14.1% during the 3rd quarter. Apollon Wealth Management LLC now owns 17,771 shares of the financial services provider’s stock valued at $1,673,000 after buying an additional 2,198 shares in the last quarter. Nadler Financial Group Inc. bought a new stake in shares of MetLife during the 3rd quarter valued at $204,000. Sigma Planning Corp grew its position in shares of MetLife by 17.3% in the 3rd quarter. Sigma Planning Corp now owns 2,967 shares of the financial services provider’s stock worth $274,000 after buying an additional 437 shares during the period. Finally, Bright Futures Wealth Management LLC. grew its position in shares of MetLife by 7.4% in the 3rd quarter. Bright Futures Wealth Management LLC. now owns 5,587 shares of the financial services provider’s stock worth $526,000 after buying an additional 385 shares during the period. 94.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MET. JPMorgan Chase & Co. increased their price target on shares of MetLife from $108.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, October 15th. Jefferies Financial Group boosted their price objective on shares of MetLife from $103.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Keefe, Bruyette & Woods boosted their price objective on shares of MetLife from $105.00 to $108.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Mizuho cut their price objective on shares of MetLife from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Wednesday, October 7th. Finally, Bank of America decreased their target price on shares of MetLife from $106.00 to $103.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $105.44.

MetLife Trading Up 0.0%

Shares of NYSE:MET opened at $100.08 on Wednesday. The stock has a fifty day simple moving average of $97.39 and a two-hundred day simple moving average of $85.36. MetLife, Inc. has a 12-month low of $67.33 and a 12-month high of $103.65.

MetLife (NYSE:MET) last released its earnings results on Wednesday, August 5th. The financial services provider reported $2.43 EPS for the quarter, topping the consensus estimate of $2.30 by $0.13. The company had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $19.67 billion. During the same period last year, the firm posted $2.02 earnings per share. The company’s revenue was up 10.5% compared to the same quarter last year. Research analysts predict that MetLife, Inc. will post 9.94 earnings per share for the current fiscal year.

MetLife announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 5th that permits the company to buy back $3 billion in shares. This buyback authorization permits the financial services provider to purchase up to 4.8% of its stock through open market purchases. Share buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

MetLife Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Tuesday, November 3rd will be given a $0.5925 dividend. This represents a $2.37 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, November 3rd.

MetLife Company Profile

MetLife, Inc (NYSE: MET) is a global financial services company that provides insurance, retirement, and employee benefits solutions to individuals, employers, and institutions. Its offerings include life insurance, dental and vision coverage, accident and disability insurance, annuities, retirement savings products, and related financial services.

Through its institutional and workplace businesses, MetLife helps employers provide benefits and retirement programs to their employees. The company also serves individual customers with protection and income products.