Midwest Trust Co Invests $414,000 in MetLife, Inc. $MET

Midwest Trust Co purchased a new stake in shares of MetLife, Inc. (NYSE:MET) during the second quarter, Holdings Channel reports. The fund purchased 5,148 shares of the financial services provider’s stock, valued at approximately $414,000.

A number of other large investors have also recently bought and sold shares of MET. Acadian Asset Management LLC increased its position in MetLife by 211.2% during the second quarter. Acadian Asset Management LLC now owns 455,022 shares of the financial services provider’s stock worth $36,588,000 after buying an additional 308,811 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of MetLife by 225.9% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 535,976 shares of the financial services provider’s stock worth $43,103,000 after acquiring an additional 371,518 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of MetLife by 3.6% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,088,916 shares of the financial services provider’s stock worth $87,571,000 after acquiring an additional 37,995 shares in the last quarter. Freemont Management S.A. increased its holdings in shares of MetLife by 30.5% during the 2nd quarter. Freemont Management S.A. now owns 30,800 shares of the financial services provider’s stock valued at $2,477,000 after acquiring an additional 7,200 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in shares of MetLife by 87.1% in the 2nd quarter. Los Angeles Capital Management LLC now owns 5,415 shares of the financial services provider’s stock valued at $435,000 after acquiring an additional 2,521 shares in the last quarter. 94.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MET has been the subject of a number of recent analyst reports. Cowen reaffirmed a “buy” rating on shares of MetLife in a research report on Friday, August 22nd. Jefferies Financial Group upped their price objective on shares of MetLife from $100.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, August 11th. Piper Sandler downgraded shares of MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 target price on the stock. in a report on Friday, September 19th. Wolfe Research raised shares of MetLife to a “strong-buy” rating in a research report on Tuesday, September 16th. Finally, Barclays raised their price target on MetLife from $93.00 to $98.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.00.

MetLife Trading Up 3.1%

MetLife stock opened at $80.17 on Thursday. The business has a 50 day moving average price of $79.89 and a two-hundred day moving average price of $78.90. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.57. MetLife, Inc. has a 12 month low of $65.21 and a 12 month high of $89.05. The stock has a market cap of $52.82 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 0.70 and a beta of 0.87.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.07. The company had revenue of $12.46 billion for the quarter, compared to analyst estimates of $18.64 billion. MetLife had a return on equity of 19.88% and a net margin of 5.83%.MetLife’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.95 EPS. As a group, equities analysts forecast that MetLife, Inc. will post 9.65 EPS for the current year.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 4th will be issued a $0.5675 dividend. This represents a $2.27 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, November 4th. MetLife’s payout ratio is 42.75%.

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.