TFC Financial Management Inc. Decreases Stake in MetLife, Inc. $MET

TFC Financial Management Inc. lowered its holdings in MetLife, Inc. (NYSE:MET) by 67.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,397 shares of the financial services provider’s stock after selling 2,886 shares during the quarter. TFC Financial Management Inc.’s holdings in MetLife were worth $112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Kathmere Capital Management LLC raised its stake in shares of MetLife by 88.2% in the second quarter. Kathmere Capital Management LLC now owns 6,328 shares of the financial services provider’s stock worth $509,000 after purchasing an additional 2,965 shares during the last quarter. First Horizon Advisors Inc. increased its position in MetLife by 4.8% during the first quarter. First Horizon Advisors Inc. now owns 422,684 shares of the financial services provider’s stock valued at $33,937,000 after acquiring an additional 19,192 shares during the last quarter. Ritholtz Wealth Management increased its position in MetLife by 52.1% during the first quarter. Ritholtz Wealth Management now owns 9,355 shares of the financial services provider’s stock valued at $751,000 after acquiring an additional 3,204 shares during the last quarter. Pinnacle Financial Partners Inc purchased a new stake in MetLife during the first quarter valued at $255,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in MetLife by 20.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,785 shares of the financial services provider’s stock valued at $4,735,000 after acquiring an additional 10,414 shares during the last quarter. Hedge funds and other institutional investors own 94.99% of the company’s stock.

MetLife Stock Performance

NYSE:MET opened at $77.87 on Friday. The stock has a 50-day simple moving average of $80.15 and a two-hundred day simple moving average of $78.13. 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. The firm has a market capitalization of $51.79 billion, a PE ratio of 13.20, a P/E/G ratio of 0.74 and a beta of 0.86.

MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates 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 period last year, the company earned $2.28 EPS. The business’s revenue was down 2.7% on a year-over-year basis. Analysts forecast that MetLife, Inc. will post 9.65 EPS for the current year.

MetLife Dividend Announcement

The firm also recently announced 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 2.9%. MetLife’s dividend payout ratio (DPR) is currently 38.47%.

Analyst Ratings Changes

A number of analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on MetLife from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods reduced their price objective on MetLife from $94.00 to $92.00 and set an “outperform” rating for the company in a research report on Monday, August 11th. UBS Group reduced their price objective on MetLife from $94.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Piper Sandler cut MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 price objective for the company. in a research report on Friday, September 19th. Finally, Barclays boosted their price target on MetLife from $93.00 to $98.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $95.18.

MetLife Company 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.