Investment Advisory Services Inc. TX ADV Purchases 421 Shares of MetLife, Inc. $MET

Investment Advisory Services Inc. TX ADV lifted its position in shares of MetLife, Inc. (NYSE:MET) by 10.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,545 shares of the financial services provider’s stock after acquiring an additional 421 shares during the quarter. Investment Advisory Services Inc. TX ADV’s holdings in MetLife were worth $366,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. North Capital Inc. purchased a new stake in MetLife during the 1st quarter worth about $26,000. Motco raised its holdings in shares of 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 acquiring an additional 212 shares in the last quarter. Abound Wealth Management raised its holdings in shares of 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 acquiring an additional 424 shares in the last quarter. Legend Financial Advisors Inc. purchased a new position in shares of MetLife during the 2nd quarter valued at about $40,000. Finally, WPG Advisers LLC purchased a new position in shares of MetLife during the 1st quarter valued at about $46,000. Institutional investors own 94.99% of the company’s stock.

MetLife Stock Up 1.7%

Shares of NYSE:MET opened at $81.61 on Monday. MetLife, Inc. has a 12-month low of $65.21 and a 12-month high of $89.05. The stock has a fifty day simple moving average of $78.67 and a two-hundred day simple moving average of $78.14. 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 stock has a market capitalization of $54.27 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.74 and a beta of 0.87.

MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.02 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 business had revenue of $17.34 billion during the quarter, compared to the consensus estimate of $18.58 billion. During the same quarter in the previous year, the business posted $2.28 earnings per share. MetLife’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, research analysts anticipate that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.

MetLife Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 5th were given a dividend of $0.5675 per share. This represents a $2.27 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Tuesday, August 5th. MetLife’s dividend payout ratio is 38.47%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MET. Jefferies Financial Group raised their price objective on MetLife from $100.00 to $103.00 and gave the company a “buy” rating in a report on Monday, August 11th. Barclays raised their price target on MetLife from $88.00 to $94.00 and gave the stock an “overweight” rating in a research report on Monday, July 7th. JPMorgan Chase & Co. lifted their price objective on MetLife from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Piper Sandler lowered MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 price objective on the stock. in a research report on Friday, September 19th. Finally, Wolfe Research upgraded MetLife to a “strong-buy” rating in a research report on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $94.64.

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.