Teacher Retirement System of Texas Sells 56,726 Shares of MetLife, Inc. $MET

Teacher Retirement System of Texas lowered its stake in MetLife, Inc. (NYSE:MET) by 13.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 362,835 shares of the financial services provider’s stock after selling 56,726 shares during the quarter. Teacher Retirement System of Texas owned about 0.05% of MetLife worth $29,179,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. North Capital Inc. bought a new position in shares of MetLife in the first quarter worth about $26,000. Motco raised its stake in shares of MetLife by 105.5% in the first quarter. Motco now owns 413 shares of the financial services provider’s stock worth $33,000 after buying an additional 212 shares during the period. GFG Capital LLC bought a new stake in MetLife during the 2nd quarter valued at approximately $38,000. Abound Wealth Management raised its stake in MetLife by 652.3% during the 2nd 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 stake in MetLife during the 2nd quarter valued at approximately $40,000. Institutional investors own 94.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Barclays lifted their target price on MetLife from $93.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. UBS Group decreased their target price on MetLife from $94.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Jefferies Financial Group lifted their target price on MetLife from $100.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, August 11th. Morgan Stanley lifted their target price on MetLife from $94.00 to $97.00 and gave the company an “overweight” rating in a research note on Tuesday, October 7th. Finally, Cowen reissued a “buy” rating on shares of MetLife in a research note on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, MetLife has a consensus rating of “Moderate Buy” and an average price target of $95.18.

MetLife Stock Performance

NYSE MET opened at $78.89 on Tuesday. The stock has a market capitalization of $52.47 billion, a PE ratio of 13.37, a P/E/G ratio of 0.71 and a beta of 0.86. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.16 and a quick ratio of 0.16. The business has a 50 day simple moving average of $80.40 and a two-hundred day simple moving average of $78.43. MetLife, Inc. has a 1-year low of $65.21 and a 1-year high of $89.05.

MetLife (NYSE:MET) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $2.02 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.30). The company had revenue of $17.34 billion during the quarter, compared to analysts’ expectations of $18.58 billion. MetLife had a return on equity of 19.88% and a net margin of 5.83%.MetLife’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.28 EPS. On average, research analysts predict that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 4th will be issued a $0.5675 dividend. The ex-dividend date is Tuesday, November 4th. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.9%. MetLife’s payout ratio 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.