Seamount Financial Group Inc. Purchases New Position in MetLife, Inc. $MET

Seamount Financial Group Inc. bought a new position in shares of MetLife, Inc. (NYSE:MET) in the second quarter, Holdings Channel reports. The fund bought 2,993 shares of the financial services provider’s stock, valued at approximately $241,000.

A number of other hedge funds have also recently added to or reduced their stakes in MET. Kathmere Capital Management LLC raised its stake in MetLife by 88.2% during the second quarter. Kathmere Capital Management LLC now owns 6,328 shares of the financial services provider’s stock worth $509,000 after acquiring an additional 2,965 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in MetLife by 4.8% in the first quarter. First Horizon Advisors Inc. now owns 422,684 shares of the financial services provider’s stock worth $33,937,000 after purchasing an additional 19,192 shares in the last quarter. Ritholtz Wealth Management lifted its position in shares of MetLife by 52.1% during the 1st quarter. Ritholtz Wealth Management now owns 9,355 shares of the financial services provider’s stock valued at $751,000 after acquiring an additional 3,204 shares during the period. Pinnacle Financial Partners Inc acquired a new stake in MetLife in the first quarter valued at approximately $255,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in MetLife by 20.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,785 shares of the financial services provider’s stock worth $4,735,000 after buying an additional 10,414 shares during the last quarter. Institutional investors own 94.99% of the company’s stock.

MetLife Price Performance

Shares of NYSE MET opened at $82.34 on Tuesday. The firm has a market cap of $54.76 billion, a P/E ratio of 13.96, a PEG ratio of 0.74 and a beta of 0.86. The company has a 50 day moving average of $79.20 and a 200 day moving average of $78.14. MetLife, Inc. has a twelve month low of $65.21 and a twelve month high of $89.05. 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 (NYSE:MET) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.30). MetLife had a net margin of 5.83% and a return on equity of 19.88%. The business had revenue of $17.34 billion for the quarter, compared to the consensus estimate of $18.58 billion. During the same period in the previous year, the company earned $2.28 earnings per share. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, research analysts expect that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MET. Keefe, Bruyette & Woods reduced their target price on shares of MetLife from $94.00 to $92.00 and set an “outperform” rating for the company in a research note on Monday, August 11th. Wolfe Research raised MetLife to a “strong-buy” rating in a report on Tuesday, September 16th. Weiss Ratings restated a “buy (b)” rating on shares of MetLife in a research report on Saturday, September 27th. Piper Sandler lowered shares of MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 price objective for the company. in a research report on Friday, September 19th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $97.00 target price (up from $94.00) on shares of MetLife in a research report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold 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 $94.64.

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.