Bay Colony Advisory Group Inc d b a Bay Colony Advisors Reduces Stake in MetLife, Inc. $MET

Bay Colony Advisory Group Inc d b a Bay Colony Advisors reduced its stake in MetLife, Inc. (NYSE:MET) by 6.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 7,301 shares of the financial services provider’s stock after selling 504 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in MetLife were worth $587,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. North Capital Inc. purchased a new stake in MetLife in the 1st quarter valued at $26,000. Quaker Wealth Management LLC grew its holdings in MetLife by 198.2% in the 2nd quarter. Quaker Wealth Management LLC now owns 333 shares of the financial services provider’s stock valued at $27,000 after buying an additional 672 shares in the last quarter. Motco grew its holdings in MetLife by 105.5% in the 1st quarter. Motco now owns 413 shares of the financial services provider’s stock valued at $33,000 after buying an additional 212 shares in the last quarter. GFG Capital LLC purchased a new stake in MetLife in the 2nd quarter valued at $38,000. Finally, Abound Wealth Management grew its holdings in MetLife by 652.3% in the 2nd quarter. Abound Wealth Management now owns 489 shares of the financial services provider’s stock valued at $39,000 after buying an additional 424 shares in the last quarter. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Price Performance

MET opened at $79.85 on Friday. The stock’s 50-day moving average price is $80.35 and its 200 day moving average price is $78.58. MetLife, Inc. has a 12-month low of $65.21 and a 12-month high of $89.05. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.57. The firm has a market cap of $53.10 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 0.70 and a beta of 0.86.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.30). MetLife had a return on equity of 19.88% and a net margin of 5.83%.The firm had revenue of $17.34 billion for the quarter, compared to analyst estimates of $18.58 billion. During the same period in the previous year, the company posted $2.28 EPS. MetLife’s revenue was down 2.7% on a year-over-year basis. As a group, sell-side analysts expect that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 4th will be paid a dividend of $0.5675 per share. The ex-dividend date of this dividend is Tuesday, November 4th. This represents a $2.27 annualized dividend and a yield of 2.8%. MetLife’s dividend payout ratio is presently 38.47%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on MetLife from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods decreased their price target on MetLife from $94.00 to $92.00 and set an “outperform” rating on the stock in a research note on Monday, August 11th. UBS Group decreased their price target on MetLife from $94.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of MetLife in a research note on Wednesday, October 8th. Finally, Barclays upped their price target on MetLife from $93.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.18.

MetLife 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.