Journey Strategic Wealth LLC Makes New $238,000 Investment in MetLife, Inc. $MET

Journey Strategic Wealth LLC acquired a new stake in MetLife, Inc. (NYSE:MET) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,963 shares of the financial services provider’s stock, valued at approximately $238,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MET. Quaker Wealth Management LLC increased its holdings in shares of MetLife by 198.2% during the 2nd 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. MTM Investment Management LLC acquired a new stake in MetLife in the 2nd quarter valued at $37,000. GFG Capital LLC bought a new stake in shares of MetLife in the 2nd quarter worth about $38,000. Abound Wealth Management increased its holdings in shares of MetLife by 652.3% during the second quarter. Abound Wealth Management now owns 489 shares of the financial services provider’s stock worth $39,000 after buying an additional 424 shares in the last quarter. Finally, Legend Financial Advisors Inc. bought 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

A number of research analysts have commented on MET shares. Keefe, Bruyette & Woods decreased their price objective on MetLife from $92.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 11th. Wolfe Research upgraded MetLife to a “strong-buy” rating in a report on Tuesday, September 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of MetLife in a research report on Monday, November 17th. Jefferies Financial Group lifted their price objective on shares of MetLife from $100.00 to $103.00 and gave the company a “buy” rating in a report on Monday, August 11th. Finally, Barclays upped 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. 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 stock. According to data from MarketBeat.com, MetLife has an average rating of “Moderate Buy” and an average target price of $95.00.

MetLife Stock Up 0.2%

Shares of NYSE MET opened at $75.18 on Tuesday. The stock has a market capitalization of $49.54 billion, a P/E ratio of 12.74, a PEG ratio of 0.70 and a beta of 0.87. The stock’s fifty day moving average is $79.22 and its 200 day moving average is $78.88. MetLife, Inc. has a 52 week low of $65.21 and a 52 week high of $89.05. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.16 and a current ratio of 0.16.

MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $2.37 earnings per share 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 business had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $18.64 billion. During the same quarter in the prior year, the business posted $1.95 earnings per share. MetLife’s revenue was down 5.9% compared to the same quarter last year. Sell-side analysts forecast that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.

MetLife Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 4th will be given a dividend of $0.5675 per share. The ex-dividend date is Tuesday, November 4th. This represents a $2.27 annualized dividend and a dividend yield of 3.0%. MetLife’s dividend payout ratio (DPR) is currently 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.