Kathmere Capital Management LLC has significantly increased its stake in MetLife, Inc. (NYSE:MET – Free Report), growing its holdings by an impressive 88.2% during the second quarter. According to the latest disclosure with the Securities & Exchange Commission, the firm now owns 6,328 shares of the financial services provider, having purchased an additional 2,965 shares in the quarter. At the end of this reporting period, Kathmere Capital Management LLC’s holdings in MetLife were valued at approximately $509,000.
Other institutional investors and hedge funds have also made adjustments to their positions in MetLife. For instance, Csenge Advisory Group increased its stake by 1.0% in the first quarter, now owning 13,647 shares worth $1,096,000 after acquiring an additional 131 shares. Similarly, Delta Investment Management LLC raised its holdings by 0.9%, bringing its total to 14,265 shares valued at $1,145,000 after acquiring 133 shares. Glenview Trust Co. also increased its stake by 0.4%, now owning 38,333 shares worth $3,078,000 after adding 141 shares. Stock Yards Bank & Trust Co. raised its holdings by 2.5%, owning 6,463 shares valued at $519,000 after acquiring 159 shares. Lastly, My Legacy Advisors LLC increased its stake by 1.2% in the second quarter, now holding 14,000 shares valued at $1,097,000. Notably, institutional investors collectively own 94.99% of the company’s stock.
Analyst Upgrades and Downgrades
Recent evaluations from several research firms have been favorable for MetLife. Jefferies Financial Group raised their price target from $100.00 to $103.00, maintaining a “buy” rating in a report dated August 11th. Cowen reiterated a “buy” rating on August 22nd, while Wells Fargo & Company issued an “overweight” rating with a target price increase from $94.00 to $97.00 on July 10th. Barclays also boosted their target price from $88.00 to $94.00, giving the stock an “overweight” rating on July 7th. However, Piper Sandler downgraded MetLife from “overweight” to “neutral,” setting a target price of $84.00 on September 19th. Currently, one analyst rates the stock as a Strong Buy, nine as Buy, and two as Hold, resulting in a consensus rating of “Moderate Buy” with an average price target of $94.64 according to MarketBeat.com.
View Our Latest Analysis on MET
MetLife Price Performance
As of Monday, shares of MET stock opened at $81.61. The company has experienced a fifty-two week low of $65.21 and a high of $89.05. With a market capitalization of $54.27 billion, MetLife has a price-to-earnings ratio of 13.83, a PEG ratio of 0.74, and a beta of 0.87. The firm’s debt-to-equity ratio stands at 0.57, with both quick and current ratios at 0.16. The stock’s 50-day and 200-day simple moving averages are $78.67 and $78.14, respectively.
MetLife (NYSE:MET – Get Free Report) recently reported its quarterly earnings on August 6th, revealing earnings per share of $2.02, which fell short of analysts’ expectations of $2.32 by $0.30. The company recorded a return on equity of 19.88% and a net margin of 5.83%. Revenue for the quarter was $17.34 billion, compared to the anticipated $18.58 billion, marking a 2.7% decrease year-over-year. Analysts forecast that MetLife, Inc. will post earnings per share of 9.65 for the current fiscal year.
MetLife Announces Dividend
Recently, MetLife declared a quarterly dividend, which was paid on September 9th. Shareholders of record on August 5th received a dividend of $0.5675 per share, with an ex-dividend date also on August 5th. This translates to an annualized dividend of $2.27, yielding 2.8%. The company’s current payout ratio is 38.47%.
About MetLife
MetLife, Inc. is a global financial services company that provides a range of services including insurance, annuities, employee benefits, and asset management. The company operates through six segments: Retirement and Income Solutions; Group Benefits; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. Its offerings include life, dental, group short- and long-term disability, individual disability, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, along with prepaid legal plans and administrative services-only arrangements for employers.
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