Resonant Capital Advisors LLC Acquires 678 Shares of MetLife, Inc. $MET

Resonant Capital Advisors LLC lifted its stake in MetLife, Inc. (NYSE:MET) by 12.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,138 shares of the financial services provider’s stock after purchasing an additional 678 shares during the period. Resonant Capital Advisors LLC’s holdings in MetLife were worth $494,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MET. Kathmere Capital Management LLC grew its stake in MetLife by 88.2% in the 2nd quarter. Kathmere Capital Management LLC now owns 6,328 shares of the financial services provider’s stock worth $509,000 after acquiring an additional 2,965 shares in the last quarter. First Horizon Advisors Inc. grew its stake in MetLife by 4.8% in the 1st quarter. First Horizon Advisors Inc. now owns 422,684 shares of the financial services provider’s stock worth $33,937,000 after acquiring an additional 19,192 shares in the last quarter. Pinnacle Financial Partners Inc bought a new position in MetLife in the first quarter worth approximately $255,000. Mirae Asset Global Investments Co. Ltd. grew its stake in MetLife by 20.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,785 shares of the financial services provider’s stock worth $4,735,000 after purchasing an additional 10,414 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp grew its stake in MetLife by 20.4% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 108,920 shares of the financial services provider’s stock worth $8,745,000 after purchasing an additional 18,461 shares in the last quarter. 94.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MET. Weiss Ratings reissued a “buy (b)” rating on shares of MetLife in a research report on Saturday. Jefferies Financial Group increased their target price on shares of MetLife from $100.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, August 11th. Cowen reiterated a “buy” rating on shares of MetLife in a report on Friday, August 22nd. Wells Fargo & Company increased their price objective on shares of MetLife from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Finally, Piper Sandler downgraded shares of MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 price objective on the stock. in a research note on Friday, September 19th. One equities research 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $95.18.

MetLife Stock Up 0.7%

NYSE:MET opened at $78.71 on Monday. MetLife, Inc. has a fifty-two week low of $65.21 and a fifty-two week high of $89.05. The stock has a market capitalization of $52.34 billion, a P/E ratio of 13.34, a P/E/G ratio of 0.71 and a beta of 0.86. 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 company’s 50-day simple moving average is $80.37 and its 200-day simple moving average is $78.40.

MetLife (NYSE:MET) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($0.30). The firm had revenue of $17.34 billion during the quarter, compared to analyst estimates of $18.58 billion. MetLife had a net margin of 5.83% and a return on equity of 19.88%. MetLife’s revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the business earned $2.28 earnings per share. On average, equities analysts anticipate that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 4th will be issued a $0.5675 dividend. This represents a $2.27 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, November 4th. MetLife’s dividend payout ratio (DPR) is currently 38.47%.

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.