My Legacy Advisors LLC Has $1.16 Million Stock Holdings in MetLife, Inc. (NYSE:MET)

My Legacy Advisors LLC trimmed its stake in shares of MetLife, Inc. (NYSE:MET) by 16.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,049 shares of the financial services provider’s stock after selling 2,820 shares during the quarter. My Legacy Advisors LLC’s holdings in MetLife were worth $1,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in MET. Abacus Planning Group Inc. grew its holdings in MetLife by 1.0% during the third quarter. Abacus Planning Group Inc. now owns 12,301 shares of the financial services provider’s stock worth $1,015,000 after buying an additional 127 shares in the last quarter. Ameliora Wealth Management Ltd. raised its holdings in shares of MetLife by 1.7% in the 3rd quarter. Ameliora Wealth Management Ltd. now owns 8,548 shares of the financial services provider’s stock valued at $705,000 after acquiring an additional 139 shares in the last quarter. Forum Financial Management LP raised its holdings in shares of MetLife by 1.0% in the 2nd quarter. Forum Financial Management LP now owns 13,729 shares of the financial services provider’s stock valued at $964,000 after acquiring an additional 141 shares in the last quarter. 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 valued at $296,000 after purchasing an additional 141 shares during the last quarter. Finally, Hills Bank & Trust Co grew its position in MetLife by 8.3% during the 2nd quarter. Hills Bank & Trust Co now owns 1,855 shares of the financial services provider’s stock worth $130,000 after acquiring an additional 142 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

MetLife Price Performance

MET stock traded up $0.12 during trading on Tuesday, hitting $84.96. The stock had a trading volume of 702,352 shares, compared to its average volume of 3,304,589. 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 twelve month low of $57.91 and a twelve month high of $86.94. The stock has a market capitalization of $60.42 billion, a P/E ratio of 29.15, a PEG ratio of 0.69 and a beta of 1.04. The company’s 50-day moving average price is $78.82 and its two-hundred day moving average price is $74.21.

MetLife (NYSE:MET) last released 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. The firm had revenue of $17.82 billion for the quarter, compared to analyst estimates of $18.57 billion. MetLife had a net margin of 4.23% and a return on equity of 21.41%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.94 EPS. As a group, research analysts predict that MetLife, Inc. will post 8.61 EPS for the current fiscal year.

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, November 5th will be paid a $0.545 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $2.18 annualized dividend and a dividend yield of 2.57%. MetLife’s dividend payout ratio (DPR) is 74.91%.

Wall Street Analysts Forecast Growth

MET has been the topic of a number of recent analyst reports. Morgan Stanley cut their price objective on MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. Jefferies Financial Group lifted their target price on MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Barclays initiated coverage on MetLife in a report on Wednesday, September 4th. They issued an “overweight” rating and a $91.00 price objective for the company. Wells Fargo & Company lifted their price objective on MetLife from $86.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Bank of America cut their price target on MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.46.

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.