Arkadios Wealth Advisors Has $4.85 Million Position in MetLife, Inc. (NYSE:MET)

Arkadios Wealth Advisors lifted its stake in shares of MetLife, Inc. (NYSE:MET) by 2.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,805 shares of the financial services provider’s stock after purchasing an additional 1,604 shares during the quarter. Arkadios Wealth Advisors’ holdings in MetLife were worth $4,850,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in MetLife by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 59,622,348 shares of the financial services provider’s stock valued at $4,418,612,000 after acquiring an additional 1,974,268 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in MetLife by 22.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,396,274 shares of the financial services provider’s stock valued at $378,799,000 after acquiring an additional 988,666 shares in the last quarter. Legal & General Group Plc lifted its position in MetLife by 5.4% in the 2nd quarter. Legal & General Group Plc now owns 5,299,800 shares of the financial services provider’s stock valued at $371,993,000 after acquiring an additional 269,246 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in MetLife by 3.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,224,930 shares of the financial services provider’s stock valued at $226,358,000 after acquiring an additional 100,782 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in MetLife by 4.1% in the 1st quarter. Nordea Investment Management AB now owns 2,772,751 shares of the financial services provider’s stock valued at $205,544,000 after acquiring an additional 108,739 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

MetLife Price Performance

NYSE:MET traded down $1.97 during trading hours on Friday, hitting $82.39. The stock had a trading volume of 3,114,659 shares, compared to its average volume of 3,293,482. The company has a 50 day simple moving average of $79.62 and a two-hundred day simple moving average of $74.43. 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 one year low of $57.91 and a one year high of $86.94. The firm has a market capitalization of $58.59 billion, a price-to-earnings ratio of 28.31, a P/E/G ratio of 0.70 and a beta of 1.04.

MetLife (NYSE:MET) last announced 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. MetLife had a net margin of 4.23% and a return on equity of 21.41%. The firm had revenue of $17.82 billion during the quarter, compared to the consensus estimate of $18.57 billion. During the same period last year, the firm earned $1.94 EPS. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Research analysts forecast that MetLife, Inc. will post 8.58 earnings per share for the current fiscal year.

MetLife Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be issued a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Tuesday, November 5th. MetLife’s dividend payout ratio is currently 74.91%.

Wall Street Analyst Weigh In

MET has been the topic of several recent research reports. Wells Fargo & Company raised their price target on shares of MetLife from $86.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. lifted their target price on shares of MetLife from $81.00 to $86.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 2nd. Citigroup lifted their target price on shares of MetLife from $83.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Piper Sandler lifted their target price on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Barclays assumed coverage on shares of MetLife in a research report on Wednesday, September 4th. They set an “overweight” rating and a $91.00 target price on the stock. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, MetLife presently has an average rating of “Moderate Buy” and an average price target 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.