Daymark Wealth Partners LLC Sells 546 Shares of MetLife, Inc. (NYSE:MET)

Daymark Wealth Partners LLC lowered its holdings in shares of MetLife, Inc. (NYSE:MET) by 9.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,942 shares of the financial services provider’s stock after selling 546 shares during the quarter. Daymark Wealth Partners LLC’s holdings in MetLife were worth $408,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of 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 during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of 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 purchasing an additional 988,666 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of 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 worth $371,993,000 after purchasing an additional 269,246 shares during the period. Envestnet Asset Management Inc. increased its position in shares of MetLife by 3.2% during 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 purchasing an additional 100,782 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in MetLife by 4.1% during 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 buying an additional 108,739 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MET. Barclays assumed coverage on shares of MetLife in a research report on Wednesday, September 4th. They set an “overweight” rating and a $91.00 price objective on the stock. Morgan Stanley reduced their price objective on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. Keefe, Bruyette & Woods dropped their target price on MetLife from $86.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Bank of America cut their target price on MetLife from $99.00 to $96.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Finally, Piper Sandler raised their price target on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.46.

MetLife Stock Performance

MET stock opened at $84.03 on Friday. MetLife, Inc. has a 1-year low of $57.91 and a 1-year high of $85.07. The business has a 50-day moving average price of $76.40 and a 200 day moving average price of $73.55. The company has a market capitalization of $59.76 billion, a P/E ratio of 28.88, a PEG ratio of 0.66 and a beta of 1.04. 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 (NYSE:MET) last posted 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 business had revenue of $17.82 billion during the quarter, compared to analyst estimates of $18.57 billion. During the same quarter in the previous year, the business posted $1.94 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, equities research analysts forecast that MetLife, Inc. will post 8.68 EPS for the current fiscal year.

MetLife Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.545 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $2.18 annualized dividend and a yield of 2.59%. MetLife’s dividend payout ratio (DPR) is presently 74.91%.

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.