Toronto Dominion Bank Reduces Holdings in MetLife, Inc. (NYSE:MET)

Toronto Dominion Bank decreased its holdings in shares of MetLife, Inc. (NYSE:MET) by 18.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 342,154 shares of the financial services provider’s stock after selling 78,353 shares during the period. Toronto Dominion Bank’s holdings in MetLife were worth $24,016,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. GoalVest Advisory LLC lifted its holdings in shares of MetLife by 73.3% during the first quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 165 shares during the period. Bank & Trust Co acquired a new stake in shares of MetLife during the second quarter worth about $39,000. Rise Advisors LLC lifted its holdings in shares of MetLife by 114.7% during the first quarter. Rise Advisors LLC now owns 556 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 297 shares during the period. Crewe Advisors LLC lifted its holdings in shares of MetLife by 602.5% during the second quarter. Crewe Advisors LLC now owns 562 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 482 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in shares of MetLife by 72.6% during the second quarter. Larson Financial Group LLC now owns 568 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 239 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

MetLife Stock Up 1.0 %

MetLife stock opened at $81.54 on Friday. The stock has a market capitalization of $57.10 billion, a PE ratio of 28.02, a price-to-earnings-growth ratio of 0.66 and a beta of 1.04. MetLife, Inc. has a 12 month low of $57.91 and a 12 month high of $81.97. The business has a 50 day simple moving average of $74.99 and a 200-day simple moving average of $72.84. 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 issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $2.28 EPS for the quarter, topping the consensus estimate of $2.13 by $0.15. MetLife had a return on equity of 21.41% and a net margin of 4.23%. The firm had revenue of $17.82 billion during the quarter, compared to analysts’ expectations of $18.57 billion. During the same period in the previous year, the business earned $1.94 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, analysts anticipate that MetLife, Inc. will post 8.68 EPS for the current fiscal year.

MetLife Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 6th were given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Tuesday, August 6th. MetLife’s payout ratio is 74.91%.

Wall Street Analysts Forecast Growth

MET has been the subject of a number of analyst reports. Citigroup boosted their price target on MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Wells Fargo & Company boosted their price target on MetLife from $85.00 to $86.00 and gave the company an “overweight” rating in a report on Monday, August 12th. JPMorgan Chase & Co. boosted their price target on MetLife from $81.00 to $86.00 and gave the company an “overweight” rating in a report on Tuesday, July 2nd. StockNews.com raised MetLife from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Jefferies Financial Group boosted their price target on MetLife from $83.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, July 18th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, MetLife currently has an average rating of “Moderate Buy” and a consensus price target of $84.54.

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.