RBA Wealth Management LLC Purchases 470 Shares of MetLife, Inc. (NYSE:MET)

RBA Wealth Management LLC increased its holdings in shares of MetLife, Inc. (NYSE:MET) by 0.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 77,582 shares of the financial services provider’s stock after acquiring an additional 470 shares during the period. MetLife comprises about 2.5% of RBA Wealth Management LLC’s investment portfolio, making the stock its 10th biggest position. RBA Wealth Management LLC’s holdings in MetLife were worth $6,399,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Abacus Planning Group Inc. grew its position in shares of MetLife by 1.0% during the 3rd 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 during the period. Ameliora Wealth Management Ltd. raised its position in MetLife by 1.7% during the third quarter. Ameliora Wealth Management Ltd. now owns 8,548 shares of the financial services provider’s stock worth $705,000 after acquiring an additional 139 shares in the last quarter. Forum Financial Management LP raised its position in MetLife by 1.0% during the second quarter. Forum Financial Management LP now owns 13,729 shares of the financial services provider’s stock worth $964,000 after acquiring an additional 141 shares in the last quarter. Drive Wealth Management LLC raised its position in MetLife by 3.5% during the second quarter. Drive Wealth Management LLC now owns 4,217 shares of the financial services provider’s stock worth $296,000 after acquiring an additional 141 shares in the last quarter. Finally, Hills Bank & Trust Co raised its position in shares of MetLife by 8.3% in the second quarter. Hills Bank & Trust Co now owns 1,855 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 142 shares during the period. 89.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MET has been the topic of several research reports. Piper Sandler upped their price target on shares of MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. StockNews.com lowered shares of MetLife from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Jefferies Financial Group raised their price target on shares of MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, September 27th. JPMorgan Chase & Co. lifted their price target on shares of MetLife from $81.00 to $86.00 and gave the company an “overweight” rating in a research report on Tuesday, July 2nd. Finally, TD Cowen initiated coverage on shares of MetLife in a report on Wednesday, October 9th. They set a “buy” rating and a $97.00 price objective on the stock. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.46.

MetLife Stock Performance

MET stock traded down $0.17 during trading on Tuesday, hitting $84.67. The company had a trading volume of 1,105,468 shares, compared to its average volume of 3,306,565. The firm has a market cap of $60.21 billion, a PE ratio of 29.15, a price-to-earnings-growth ratio of 0.69 and a beta of 1.04. MetLife, Inc. has a 1-year low of $57.91 and a 1-year high of $86.94. The firm has a 50-day moving average price of $78.82 and a 200-day moving average price of $74.21. The company has a quick ratio of 0.16, a current 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 for the quarter, topping analysts’ consensus estimates of $2.13 by $0.15. MetLife had a return on equity of 21.41% and a net margin of 4.23%. The company had revenue of $17.82 billion for the quarter, compared to analyst estimates of $18.57 billion. During the same quarter in the prior year, the company posted $1.94 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, analysts expect that MetLife, Inc. will post 8.61 earnings per share for the current year.

MetLife Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.545 per share. The ex-dividend date is Tuesday, November 5th. This represents a $2.18 annualized dividend and a dividend yield of 2.57%. MetLife’s dividend payout ratio is presently 74.91%.

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.