Simplicity Wealth LLC Sells 27,326 Shares of MetLife, Inc. (NYSE:MET)

Simplicity Wealth LLC cut its holdings in MetLife, Inc. (NYSE:MET) by 90.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,764 shares of the financial services provider’s stock after selling 27,326 shares during the period. Simplicity Wealth LLC’s holdings in MetLife were worth $228,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. GoalVest Advisory LLC lifted its holdings in shares of MetLife by 73.3% during the first quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider’s stock worth $29,000 after buying an additional 165 shares during the last quarter. Bank & Trust Co bought a new stake in MetLife in the 2nd quarter valued at $39,000. Rise Advisors LLC grew its position in MetLife by 114.7% in the 1st quarter. Rise Advisors LLC now owns 556 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 297 shares during the last quarter. Crewe Advisors LLC increased its holdings in shares of MetLife by 602.5% during the 2nd quarter. Crewe Advisors LLC now owns 562 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 482 shares during the period. Finally, Larson Financial Group LLC raised its position in shares of MetLife by 72.6% during the second 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 last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

MetLife Stock Up 0.5 %

Shares of MET opened at $85.91 on Tuesday. The business’s 50 day simple moving average is $77.23 and its 200-day simple moving average is $73.79. MetLife, Inc. has a one year low of $57.91 and a one year high of $85.97. The company has a market capitalization of $61.09 billion, a P/E ratio of 29.52, a PEG ratio of 0.69 and a beta of 1.04. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.16 and a quick ratio of 0.16.

MetLife (NYSE:MET) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $2.28 EPS for the quarter, topping the consensus estimate of $2.13 by $0.15. MetLife had a return on equity of 21.41% and a net margin of 4.23%. The company had revenue of $17.82 billion for the quarter, compared to analysts’ expectations of $18.57 billion. During the same quarter in the prior year, the business earned $1.94 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, sell-side analysts predict that MetLife, Inc. will post 8.61 EPS for the current fiscal year.

MetLife Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, November 5th will be paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Tuesday, November 5th. MetLife’s dividend payout ratio is presently 74.91%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MET shares. Citigroup boosted their price target on MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Morgan Stanley lowered their price objective on MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. Barclays assumed coverage on MetLife in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $91.00 target price for the company. Piper Sandler boosted their price target on shares of MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, 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 objective for the company. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.46.

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.