Patriot Financial Group Insurance Agency LLC Trims Position in MetLife, Inc. (NYSE:MET)

Patriot Financial Group Insurance Agency LLC decreased its holdings in MetLife, Inc. (NYSE:MET) by 51.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,746 shares of the financial services provider’s stock after selling 3,951 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in MetLife were worth $309,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Smithbridge Asset Management Inc. DE boosted its stake in shares of MetLife by 77.7% during the 3rd quarter. Smithbridge Asset Management Inc. DE now owns 9,319 shares of the financial services provider’s stock valued at $769,000 after purchasing an additional 4,076 shares in the last quarter. First Financial Bankshares Inc purchased a new stake in MetLife in the third quarter worth about $203,000. J.W. Cole Advisors Inc. boosted its position in MetLife by 3.1% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 5,918 shares of the financial services provider’s stock valued at $488,000 after acquiring an additional 178 shares in the last quarter. Financial Management Professionals Inc. raised its position in shares of MetLife by 2.0% in the 3rd quarter. Financial Management Professionals Inc. now owns 6,984 shares of the financial services provider’s stock worth $576,000 after acquiring an additional 136 shares in the last quarter. Finally, Frank Rimerman Advisors LLC raised its position in shares of MetLife by 76.0% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 7,952 shares of the financial services provider’s stock worth $656,000 after acquiring an additional 3,434 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

MetLife Stock Performance

Shares of MET opened at $82.86 on Wednesday. The business’s fifty day simple moving average is $80.21 and its two-hundred day simple moving average is $74.69. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.56. MetLife, Inc. has a 12 month low of $58.48 and a 12 month high of $86.94. The company has a market cap of $58.03 billion, a price-to-earnings ratio of 22.33, a P/E/G ratio of 0.70 and a beta of 1.04.

MetLife (NYSE:MET) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $2.28 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $18.57 billion. During the same period last year, the business posted $1.94 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. Research analysts anticipate that MetLife, Inc. will post 8.58 earnings per share for the current fiscal year.

MetLife Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, November 5th will be paid a dividend of $0.545 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $2.18 annualized dividend and a yield of 2.63%. MetLife’s dividend payout ratio is 58.76%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MET. Piper Sandler increased their target price on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Barclays began coverage on MetLife in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $91.00 target price for the company. Bank of America decreased their target price on MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Keefe, Bruyette & Woods decreased their target price on MetLife from $86.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Finally, Citigroup increased their target price on MetLife from $83.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $88.46.

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.