MetLife, Inc. $MET Holdings Lowered by Meridian Investment Counsel Inc.

Meridian Investment Counsel Inc. reduced its position in MetLife, Inc. (NYSE:MET) by 25.0% in the 3rd quarter, Holdings Channel reports. The firm owned 32,795 shares of the financial services provider’s stock after selling 10,925 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in MetLife were worth $3,088,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MET. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in MetLife during the 2nd quarter worth $26,000. Burk Holdings LLC purchased a new stake in shares of MetLife during the second quarter worth $27,000. Highland Investment Advisors LLC acquired a new stake in shares of MetLife in the second quarter valued at about $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of MetLife in the fourth quarter valued at about $31,000. Finally, Elevation Wealth Partners LLC lifted its stake in shares of MetLife by 123.5% in the third quarter. Elevation Wealth Partners LLC now owns 362 shares of the financial services provider’s stock worth $34,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 94.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MET. Bank of America lowered their price target on shares of MetLife from $106.00 to $103.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. Jefferies Financial Group increased their price objective on shares of MetLife from $103.00 to $115.00 and gave the company a “buy” rating in a report on Monday, August 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of MetLife in a report on Friday, September 11th. Wall Street Zen raised shares of MetLife from a “hold” rating to a “buy” rating in a research note on Sunday, September 27th. Finally, Mizuho lowered their target price on MetLife from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Wednesday, October 7th. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $105.06.

MetLife Stock Down 0.9%

Shares of MET opened at $99.77 on Thursday. MetLife, Inc. has a 52-week low of $67.33 and a 52-week high of $101.44. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $96.80 and a two-hundred day simple moving average of $88.42. The company has a market capitalization of $64.19 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 0.95 and a beta of 0.78.

MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.13. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The firm had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $19.67 billion. During the same quarter in the previous year, the company posted $2.02 EPS. The company’s revenue was up 10.5% compared to the same quarter last year. As a group, equities analysts forecast that MetLife, Inc. will post 9.88 EPS for the current year.

MetLife Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Tuesday, November 3rd will be issued a $0.5925 dividend. This represents a $2.37 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, November 3rd. MetLife’s payout ratio is presently 45.40%.

MetLife announced that its Board of Directors has initiated a share buyback program on Wednesday, August 5th that permits the company to repurchase $3.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 4.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

MetLife Company Profile

MetLife, Inc is a global financial services company that provides insurance, employee benefits and retirement solutions. Its products and services include life insurance, dental and vision coverage, disability insurance, accident and health benefits, annuities, and savings and retirement products.

The company serves individuals, employers and institutions through group benefits, workplace solutions and individual insurance offerings. MetLife also provides investment and retirement services designed to help employers and employees prepare for long-term financial needs.

Founded in 1868, MetLife is headquartered in New York City and operates through businesses in the United States and international markets, including regions across Latin America, Asia and Europe.