Orleans Capital Management Corp LA Has $1.67 Million Position in MetLife, Inc. $MET

Orleans Capital Management Corp LA cut its stake in MetLife, Inc. (NYSE:MET) by 5.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,726 shares of the financial services provider’s stock after selling 1,270 shares during the period. Orleans Capital Management Corp LA’s holdings in MetLife were worth $1,667,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Quaker Wealth Management LLC lifted its position in MetLife by 198.2% during the second quarter. Quaker Wealth Management LLC now owns 333 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 672 shares during the period. MTM Investment Management LLC acquired a new position in shares of MetLife in the 2nd quarter valued at approximately $37,000. GFG Capital LLC bought a new stake in shares of MetLife during the 2nd quarter worth approximately $38,000. Abound Wealth Management boosted its position in shares of MetLife by 652.3% during the 2nd quarter. Abound Wealth Management now owns 489 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 424 shares in the last quarter. Finally, Legend Financial Advisors Inc. bought a new position in MetLife in the second quarter valued at approximately $40,000. Institutional investors own 94.99% of the company’s stock.

MetLife Stock Performance

MetLife stock opened at $76.95 on Friday. The business has a 50 day moving average of $79.02 and a 200-day moving average of $78.79. The company has a market capitalization of $50.70 billion, a P/E ratio of 13.04, a P/E/G ratio of 0.70 and a beta of 0.87. MetLife, Inc. has a 1 year low of $65.21 and a 1 year high of $88.68. 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 (NYSE:MET) last posted its earnings results on Wednesday, November 5th. The financial services provider reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.07. The firm had revenue of $12.46 billion for the quarter, compared to analyst estimates of $18.64 billion. MetLife had a net margin of 5.83% and a return on equity of 19.88%. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.95 EPS. On average, equities research analysts predict that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 4th will be given a $0.5675 dividend. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Tuesday, November 4th. MetLife’s payout ratio is 42.75%.

Analyst Ratings Changes

MET has been the topic of a number of research analyst reports. Morgan Stanley raised their target price on MetLife from $94.00 to $97.00 and gave the company an “overweight” rating in a report on Tuesday, October 7th. Wolfe Research raised MetLife to a “strong-buy” rating in a research note on Tuesday, September 16th. Barclays boosted their target price on MetLife from $93.00 to $98.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Jefferies Financial Group raised their price target on shares of MetLife from $100.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, August 11th. Finally, Wells Fargo & Company decreased their price target on shares of MetLife from $96.00 to $92.00 and set an “overweight” rating on the stock in a report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $94.60.

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.