Resonant Capital Advisors LLC Cuts Stake in MetLife, Inc. (NYSE:MET)

Resonant Capital Advisors LLC lowered its position in MetLife, Inc. (NYSE:MET) by 2.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,440 shares of the financial services provider’s stock after selling 118 shares during the quarter. Resonant Capital Advisors LLC’s holdings in MetLife were worth $449,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. National Bank of Canada FI boosted its holdings in MetLife by 54.9% in the first quarter. National Bank of Canada FI now owns 371,062 shares of the financial services provider’s stock worth $26,983,000 after purchasing an additional 131,538 shares during the period. Acadian Asset Management LLC bought a new position in shares of MetLife during the 1st quarter valued at about $1,053,000. Entropy Technologies LP raised its holdings in shares of MetLife by 38.3% in the 1st quarter. Entropy Technologies LP now owns 30,473 shares of the financial services provider’s stock worth $2,258,000 after purchasing an additional 8,440 shares in the last quarter. M&G Plc acquired a new stake in MetLife during the second quarter valued at approximately $2,346,000. Finally, Canada Pension Plan Investment Board boosted its holdings in MetLife by 53.0% during the first quarter. Canada Pension Plan Investment Board now owns 618,650 shares of the financial services provider’s stock worth $45,848,000 after buying an additional 214,367 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

MetLife Stock Performance

Shares of NYSE MET opened at $85.32 on Monday. 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, Inc. has a one year low of $57.91 and a one year high of $86.94. The business’s 50-day moving average price is $78.52 and its two-hundred day moving average price is $74.13. The company has a market capitalization of $60.67 billion, a P/E ratio of 29.32, a price-to-earnings-growth ratio of 0.69 and a beta of 1.04.

MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $2.28 EPS for the quarter, beating 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 business had revenue of $17.82 billion during the quarter, compared to analysts’ expectations of $18.57 billion. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.94 EPS. Analysts anticipate that MetLife, Inc. will post 8.61 earnings per share for the current fiscal year.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be issued 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 2.56%. MetLife’s dividend payout ratio is currently 74.91%.

Analyst Ratings Changes

MET has been the subject of several research reports. Barclays assumed coverage on MetLife in a research note on Wednesday, September 4th. They set an “overweight” rating and a $91.00 price objective for the company. Morgan Stanley cut their price objective on MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Bank of America decreased their target price on shares of MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a report on Thursday, August 1st. 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 note on Tuesday, July 2nd. Finally, TD Cowen started coverage on shares of MetLife in a research report on Wednesday, October 9th. They set a “buy” rating and a $97.00 price objective on the stock. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average 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.