SteelPeak Wealth LLC Trims Stake in MetLife, Inc. (NYSE:MET)

SteelPeak Wealth LLC lowered its holdings in MetLife, Inc. (NYSE:MET) by 7.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,518 shares of the financial services provider’s stock after selling 2,210 shares during the quarter. SteelPeak Wealth LLC’s holdings in MetLife were worth $2,270,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC raised its holdings in shares of MetLife by 374.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock valued at $29,000 after buying an additional 277 shares during the period. Fortitude Family Office LLC raised its holdings in shares of MetLife by 177.3% in the 3rd quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock valued at $34,000 after buying an additional 266 shares during the period. Bank & Trust Co purchased a new stake in shares of MetLife in the 2nd quarter valued at $39,000. Crewe Advisors LLC raised its holdings in shares of MetLife by 602.5% in the 2nd quarter. Crewe Advisors LLC now owns 562 shares of the financial services provider’s stock valued at $39,000 after buying an additional 482 shares during the period. Finally, Larson Financial Group LLC raised its holdings in shares of MetLife by 72.6% in the 2nd quarter. Larson Financial Group LLC now owns 568 shares of the financial services provider’s stock valued at $40,000 after buying an additional 239 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

MetLife Price Performance

Shares of NYSE:MET opened at $83.22 on Thursday. MetLife, Inc. has a one year low of $58.89 and a one year high of $86.94. The stock has a market capitalization of $58.28 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 0.70 and a beta of 1.04. The company has a 50-day simple moving average of $80.41 and a 200-day simple moving average of $74.75. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.16 and a current ratio of 0.16.

MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.15. The company had revenue of $17.82 billion during the quarter, compared to analysts’ expectations of $18.57 billion. MetLife had a return on equity of 21.41% and a net margin of 4.23%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the firm earned $1.94 EPS. On average, analysts predict that MetLife, Inc. will post 8.58 EPS for the current year.

MetLife Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be paid a dividend of $0.545 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.62%. MetLife’s dividend payout ratio (DPR) is 58.76%.

Analyst Ratings Changes

Several research firms recently commented on MET. Piper Sandler boosted their target price on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company boosted their target price on MetLife from $86.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Citigroup boosted their target price on MetLife from $83.00 to $89.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. TD Cowen started coverage on shares of MetLife in a research note on Wednesday, October 9th. They issued a “buy” rating and a $97.00 price target on the stock. Finally, Morgan Stanley reduced their price objective on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a research report on Monday, August 19th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, MetLife presently has an average rating of “Moderate Buy” and a consensus price target of $88.46.

About MetLife

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.