Aaron Wealth Advisors LLC Invests $204,000 in MetLife, Inc. (NYSE:MET)

Aaron Wealth Advisors LLC purchased a new stake in shares of MetLife, Inc. (NYSE:MET) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,470 shares of the financial services provider’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. RFG Advisory LLC lifted its stake in MetLife by 4.3% in the first quarter. RFG Advisory LLC now owns 6,181 shares of the financial services provider’s stock valued at $458,000 after buying an additional 257 shares in the last quarter. Ballentine Partners LLC increased its stake in shares of MetLife by 29.7% during the first quarter. Ballentine Partners LLC now owns 8,033 shares of the financial services provider’s stock worth $595,000 after purchasing an additional 1,839 shares during the period. Financial Synergies Wealth Advisors Inc. lifted its holdings in MetLife by 4,107.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 589 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 575 shares during the last quarter. Strategic Planning Group LLC raised its stake in MetLife by 15.6% in the 1st quarter. Strategic Planning Group LLC now owns 18,581 shares of the financial services provider’s stock worth $1,377,000 after purchasing an additional 2,505 shares in the last quarter. Finally, Austin Private Wealth LLC raised its position in shares of MetLife by 15.8% in the first quarter. Austin Private Wealth LLC now owns 5,058 shares of the financial services provider’s stock valued at $372,000 after buying an additional 691 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

MetLife Price Performance

MetLife stock opened at $85.32 on Monday. The business has a fifty day moving average price of $78.52 and a 200-day moving average price of $74.13. The firm has a market capitalization of $60.67 billion, a P/E ratio of 29.32, a PEG ratio of 0.69 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, Inc. has a one year low of $57.91 and a one year high of $86.94.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.15. The business 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% compared to the same quarter last year. During the same period in the prior year, the company posted $1.94 EPS. As a group, equities research analysts forecast that MetLife, Inc. will post 8.61 EPS for the current 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 is Tuesday, November 5th. This represents a $2.18 annualized dividend and a yield of 2.56%. MetLife’s payout ratio is presently 74.91%.

Analysts Set New Price Targets

A number of brokerages recently commented on MET. Piper Sandler raised their price target on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. 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 note on Thursday, October 10th. Jefferies Financial Group increased their price objective on MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a report on Friday, September 27th. 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 note on Monday, August 19th. Finally, JPMorgan Chase & Co. increased their price target on MetLife from $81.00 to $86.00 and gave the stock an “overweight” rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, MetLife currently has a consensus rating of “Moderate Buy” and an average target price of $88.46.

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.