Frank Rimerman Advisors LLC Has $317,000 Holdings in MetLife, Inc. (NYSE:MET)

Frank Rimerman Advisors LLC grew its holdings in MetLife, Inc. (NYSE:MET) by 4,706.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,518 shares of the financial services provider’s stock after acquiring an additional 4,424 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in MetLife were worth $317,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Gilbert & Cook Inc. raised its holdings in MetLife by 4.6% during the 4th quarter. Gilbert & Cook Inc. now owns 13,872 shares of the financial services provider’s stock worth $917,000 after buying an additional 605 shares during the period. Gryphon Financial Partners LLC bought a new stake in MetLife in the 4th quarter valued at $201,000. Cambridge Investment Research Advisors Inc. boosted its stake in MetLife by 7.8% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 78,499 shares of the financial services provider’s stock worth $5,191,000 after purchasing an additional 5,707 shares during the period. US Bancorp DE increased its holdings in MetLife by 1.3% during the 4th quarter. US Bancorp DE now owns 106,391 shares of the financial services provider’s stock worth $7,036,000 after purchasing an additional 1,340 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of MetLife by 0.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 185,735 shares of the financial services provider’s stock valued at $12,283,000 after purchasing an additional 816 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

MetLife Price Performance

Shares of MET opened at $80.45 on Wednesday. MetLife, Inc. has a fifty-two week low of $57.91 and a fifty-two week high of $81.85. The firm has a market capitalization of $57.21 billion, a PE ratio of 27.65, a PEG ratio of 0.61 and a beta of 1.04. The company’s 50-day moving average is $74.90 and its 200-day moving average is $72.78. 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 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. The company had revenue of $17.82 billion for the quarter, compared to the consensus estimate of $18.57 billion. MetLife had a return on equity of 21.41% and a net margin of 4.23%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.94 earnings per share. Equities analysts forecast that MetLife, Inc. will post 8.67 EPS for the current year.

MetLife Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date was Tuesday, August 6th. MetLife’s dividend payout ratio is 74.91%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on MetLife from $81.00 to $86.00 and gave the stock an “overweight” rating in a report on Tuesday, July 2nd. Wells Fargo & Company lifted their price objective on shares of MetLife from $85.00 to $86.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Bank of America reduced their target price on shares of MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a report on Thursday, August 1st. StockNews.com lowered shares of MetLife from a “buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Finally, Barclays started coverage on shares of MetLife in a research note on Wednesday, September 4th. They set an “overweight” rating and a $91.00 price objective for the company. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.