Daymark Wealth Partners LLC Invests $385,000 in MetLife, Inc. (NYSE:MET)

Daymark Wealth Partners LLC bought a new stake in MetLife, Inc. (NYSE:MET) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,488 shares of the financial services provider’s stock, valued at approximately $385,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Forum Financial Management LP lifted its stake in MetLife by 1.0% during the second quarter. Forum Financial Management LP now owns 13,729 shares of the financial services provider’s stock worth $964,000 after purchasing an additional 141 shares during the last quarter. Drive Wealth Management LLC boosted its holdings in shares of MetLife by 3.5% in the 2nd quarter. Drive Wealth Management LLC now owns 4,217 shares of the financial services provider’s stock valued at $296,000 after buying an additional 141 shares in the last quarter. Hills Bank & Trust Co grew its position in shares of MetLife by 8.3% in the 2nd quarter. Hills Bank & Trust Co now owns 1,855 shares of the financial services provider’s stock valued at $130,000 after buying an additional 142 shares during the last quarter. CNB Bank raised its stake in MetLife by 9.3% during the 1st quarter. CNB Bank now owns 1,735 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 147 shares in the last quarter. Finally, Marcum Wealth LLC lifted its position in MetLife by 4.7% in the first quarter. Marcum Wealth LLC now owns 3,436 shares of the financial services provider’s stock valued at $255,000 after acquiring an additional 153 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MET. Barclays initiated coverage on MetLife in a research report on Wednesday, September 4th. They set an “overweight” rating and a $91.00 target price on the stock. Wells Fargo & Company boosted their price objective on MetLife from $85.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Bank of America lowered their target price on shares of MetLife from $99.00 to $96.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Citigroup upped their price target on shares of MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of MetLife from $81.00 to $86.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 2nd. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.23.

MetLife Price Performance

Shares of NYSE:MET opened at $82.48 on Friday. MetLife, Inc. has a 52 week low of $57.91 and a 52 week high of $82.99. The company has a 50-day moving average price of $75.27 and a 200 day moving average price of $72.98. The company has a market cap of $58.65 billion, a P/E ratio of 28.34, a PEG ratio of 0.66 and a beta of 1.04. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.56.

MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.15. The firm had revenue of $17.82 billion for the quarter, compared to the consensus estimate of $18.57 billion. MetLife had a return on equity of 21.41% and a net margin of 4.23%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.94 earnings per share. Research analysts predict that MetLife, Inc. will post 8.68 earnings per share for the current year.

MetLife Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 6th were issued a $0.545 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.64%. MetLife’s dividend payout ratio is presently 74.91%.

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.