Geode Capital Management LLC Has $1.03 Billion Holdings in MetLife, Inc. $MET

Geode Capital Management LLC trimmed its holdings in shares of MetLife, Inc. (NYSE:MET) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,832,894 shares of the financial services provider’s stock after selling 151,033 shares during the quarter. Geode Capital Management LLC’s holdings in MetLife were worth $1,031,247,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of MET. Quaker Wealth Management LLC increased its holdings in shares of 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. Motco boosted 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 valued at $33,000 after buying an additional 212 shares during the period. GFG Capital LLC acquired a new stake in MetLife during the second quarter worth approximately $38,000. Abound Wealth Management increased 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 worth $39,000 after acquiring an additional 424 shares during the period. Finally, Legend Financial Advisors Inc. acquired a new position in MetLife in the 2nd quarter valued at $40,000. Institutional investors own 94.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MET shares. Barclays increased their target price on MetLife from $93.00 to $98.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Keefe, Bruyette & Woods reduced their price objective on shares of MetLife from $92.00 to $90.00 and set an “outperform” rating on the stock in a research note on Tuesday. Piper Sandler cut shares of MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 target price for the company. in a research report on Friday, September 19th. Cowen reaffirmed a “buy” rating on shares of MetLife in a report on Friday, August 22nd. Finally, Wolfe Research raised shares of MetLife to a “strong-buy” rating in a research note on Tuesday, September 16th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, MetLife currently has an average rating of “Moderate Buy” and an average target price of $95.00.

MetLife Price Performance

MET stock opened at $79.44 on Friday. The stock has a market cap of $52.35 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 0.70 and a beta of 0.87. 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 company has a 50 day simple moving average of $79.84 and a 200 day simple moving average of $78.90. MetLife, Inc. has a 1 year low of $65.21 and a 1 year high of $89.05.

MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.07. MetLife had a net margin of 5.83% and a return on equity of 19.88%. The company had revenue of $12.46 billion during the quarter, compared to the consensus estimate of $18.64 billion. During the same period in the prior year, the business earned $1.95 earnings per share. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. Research analysts anticipate that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 4th will be paid a dividend of $0.5675 per share. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, November 4th. MetLife’s dividend payout ratio (DPR) is presently 42.75%.

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.