Austin Private Wealth LLC Buys 400 Shares of MetLife, Inc. $MET

Austin Private Wealth LLC raised its stake in MetLife, Inc. (NYSE:MET) by 6.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 6,516 shares of the financial services provider’s stock after acquiring an additional 400 shares during the quarter. Austin Private Wealth LLC’s holdings in MetLife were worth $524,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Diamond Hill Capital Management Inc. acquired a new position in shares of MetLife during the first quarter valued at about $336,965,000. Nuveen LLC acquired a new position in shares of MetLife during the first quarter valued at about $312,946,000. Price T Rowe Associates Inc. MD grew its holdings in shares of MetLife by 7.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 26,488,146 shares of the financial services provider’s stock valued at $2,126,734,000 after buying an additional 1,824,907 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of MetLife during the first quarter valued at about $68,030,000. Finally, AQR Capital Management LLC grew its holdings in shares of MetLife by 85.0% during the first quarter. AQR Capital Management LLC now owns 1,321,881 shares of the financial services provider’s stock valued at $104,270,000 after buying an additional 607,333 shares during the last quarter. 94.99% of the stock is owned by institutional investors.

MetLife Stock Down 0.1%

MET opened at $78.77 on Wednesday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.57. The stock has a market cap of $52.39 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 0.71 and a beta of 0.86. MetLife, Inc. has a twelve month low of $65.21 and a twelve month high of $89.05. The company’s 50-day moving average price is $80.40 and its two-hundred day moving average price is $78.48.

MetLife (NYSE:MET) last released its earnings results on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share 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 net margin of 5.83% and a return on equity of 19.88%. The firm’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.28 earnings per share. As a group, equities analysts expect that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 4th will be paid a $0.5675 dividend. This represents a $2.27 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, November 4th. MetLife’s payout ratio is presently 38.47%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MET. Piper Sandler cut shares of MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 price objective for the company. in a report on Friday, September 19th. Jefferies Financial Group upped their price objective on shares of MetLife from $100.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. JPMorgan Chase & Co. upped their price objective on shares of MetLife from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Barclays upped their price objective on shares of MetLife from $93.00 to $98.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Finally, UBS Group reduced their price objective on shares of MetLife from $94.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $95.18.

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.