Zions Bancorporation N.A. Sells 561 Shares of MetLife, Inc. (NYSE:MET)

Zions Bancorporation N.A. reduced its stake in MetLife, Inc. (NYSE:MET) by 19.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,350 shares of the financial services provider’s stock after selling 561 shares during the period. Zions Bancorporation N.A.’s holdings in MetLife were worth $165,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gilbert & Cook Inc. boosted its position in MetLife by 4.6% during the 4th quarter. Gilbert & Cook Inc. now owns 13,872 shares of the financial services provider’s stock valued at $917,000 after buying an additional 605 shares during the period. Gryphon Financial Partners LLC purchased a new stake in shares of MetLife during the fourth quarter worth about $201,000. Avantax Advisory Services Inc. increased its holdings in MetLife by 8.9% during the 4th quarter. Avantax Advisory Services Inc. now owns 12,616 shares of the financial services provider’s stock valued at $834,000 after purchasing an additional 1,036 shares during the period. Level Four Advisory Services LLC raised its position in MetLife by 8.6% during the 4th quarter. Level Four Advisory Services LLC now owns 18,915 shares of the financial services provider’s stock valued at $1,251,000 after purchasing an additional 1,492 shares during the last quarter. Finally, Allegheny Financial Group LTD purchased a new stake in MetLife in the 4th quarter worth approximately $288,000. Institutional investors own 89.81% of the company’s stock.

MetLife Stock Performance

Shares of MET stock opened at $76.19 on Friday. The company has a market capitalization of $54.18 billion, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 0.61 and a beta of 1.04. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.16 and a current ratio of 0.16. MetLife, Inc. has a one year low of $57.91 and a one year high of $79.34. The company’s 50-day moving average is $73.86 and its 200 day moving average is $72.30.

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 analysts’ consensus estimates of $2.13 by $0.15. The firm had revenue of $17.82 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.94 earnings per share. Sell-side analysts expect that MetLife, Inc. will post 8.67 EPS for the current fiscal year.

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend was Tuesday, August 6th. MetLife’s payout ratio is currently 74.91%.

Analysts Set New Price Targets

A number of brokerages recently commented on MET. JPMorgan Chase & Co. raised their price target on MetLife from $81.00 to $86.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 2nd. Citigroup boosted their price target on shares of MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. 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. Bank of America decreased their target price on MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Finally, Argus lifted their price target on MetLife from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, MetLife has an average rating of “Moderate Buy” and an average price target of $84.54.

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.