Eagle Bay Advisors LLC Trims Stock Holdings in MetLife, Inc. (NYSE:MET)

Eagle Bay Advisors LLC reduced its position in MetLife, Inc. (NYSE:MET) by 19.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,195 shares of the financial services provider’s stock after selling 281 shares during the period. Eagle Bay Advisors LLC’s holdings in MetLife were worth $99,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in MET. Abacus Planning Group Inc. increased its holdings in MetLife by 1.0% during the 3rd quarter. Abacus Planning Group Inc. now owns 12,301 shares of the financial services provider’s stock valued at $1,015,000 after purchasing an additional 127 shares in the last quarter. Ameliora Wealth Management Ltd. lifted its position in shares of MetLife by 1.7% in the third quarter. Ameliora Wealth Management Ltd. now owns 8,548 shares of the financial services provider’s stock worth $705,000 after purchasing an additional 139 shares in the last quarter. Greenleaf Trust lifted its position in MetLife by 0.4% during the 3rd quarter. Greenleaf Trust now owns 31,393 shares of the financial services provider’s stock worth $2,589,000 after buying an additional 139 shares in the last quarter. Forum Financial Management LP grew its stake in MetLife by 1.0% in the second quarter. Forum Financial Management LP now owns 13,729 shares of the financial services provider’s stock valued at $964,000 after purchasing an additional 141 shares in the last quarter. Finally, Drive Wealth Management LLC increased its position in shares of MetLife by 3.5% during the 2nd quarter. Drive Wealth Management LLC now owns 4,217 shares of the financial services provider’s stock worth $296,000 after purchasing an additional 141 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MET. TD Cowen began coverage on shares of MetLife in a research report on Wednesday, October 9th. They set a “buy” rating and a $97.00 price target on the stock. Jefferies Financial Group lifted their price target on MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Morgan Stanley lowered their price target on MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. Piper Sandler raised their price objective on MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods decreased their target price on MetLife from $86.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, MetLife has an average rating of “Moderate Buy” and a consensus price target of $88.46.

MetLife Stock Performance

NYSE MET traded down $0.62 during trading on Wednesday, reaching $84.13. The company’s stock had a trading volume of 486,622 shares, compared to its average volume of 3,296,708. The firm has a 50 day moving average price of $79.11 and a 200 day moving average price of $74.29. MetLife, Inc. has a 12 month low of $57.91 and a 12 month high of $86.94. The firm has a market capitalization of $59.83 billion, a price-to-earnings ratio of 29.13, a price-to-earnings-growth ratio of 0.69 and a beta of 1.04. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.56.

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

MetLife Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, November 5th will be given a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Tuesday, November 5th. MetLife’s payout ratio is currently 74.91%.

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.