Frank Rimerman Advisors LLC Acquires 839 Shares of MetLife, Inc. $MET

Frank Rimerman Advisors LLC boosted its stake in shares of MetLife, Inc. (NYSE:MET) by 9.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,734 shares of the financial services provider’s stock after buying an additional 839 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in MetLife were worth $783,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Quaker Wealth Management LLC lifted its stake in MetLife by 198.2% in the second quarter. Quaker Wealth Management LLC now owns 333 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 672 shares during the period. Motco grew its holdings in MetLife by 105.5% in the first quarter. Motco now owns 413 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 212 shares during the last quarter. MTM Investment Management LLC purchased a new position in MetLife during the 2nd quarter worth $37,000. GFG Capital LLC acquired a new position in shares of MetLife during the second quarter valued at about $38,000. Finally, Abound Wealth Management increased its stake in MetLife by 652.3% during the 2nd quarter. Abound Wealth Management now owns 489 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 424 shares in the last quarter. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MET. Barclays raised their price objective on MetLife from $93.00 to $98.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Cowen restated a “buy” rating on shares of MetLife in a research report on Friday, August 22nd. Wolfe Research raised shares of MetLife to a “strong-buy” rating in a research report on Tuesday, September 16th. UBS Group decreased their price objective on MetLife from $96.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of MetLife in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

MetLife Stock Performance

Shares of MetLife stock opened at $75.41 on Wednesday. MetLife, Inc. has a one year low of $65.21 and a one year high of $89.05. The business has a 50-day simple moving average of $79.66 and a 200-day simple moving average of $78.95. 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 has a market cap of $49.68 billion, a PE ratio of 12.78, a P/E/G ratio of 0.70 and a beta of 0.87.

MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.07. MetLife had a net margin of 5.83% and a return on equity of 19.88%. The business had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $18.64 billion. During the same period in the previous year, the company earned $1.95 EPS. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. On average, equities research analysts forecast that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 4th will be given a dividend of $0.5675 per share. This represents a $2.27 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Tuesday, November 4th. MetLife’s payout ratio is currently 42.75%.

MetLife Company 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.