Abich Financial Wealth Management LLC Purchases 2,475 Shares of MetLife, Inc. (NYSE:MET)

Abich Financial Wealth Management LLC grew its holdings in shares of MetLife, Inc. (NYSE:MET) by 16,500.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 2,490 shares of the financial services provider’s stock after buying an additional 2,475 shares during the period. Abich Financial Wealth Management LLC’s holdings in MetLife were worth $175,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gilbert & Cook Inc. increased its stake in MetLife by 4.6% in the fourth quarter. Gilbert & Cook Inc. now owns 13,872 shares of the financial services provider’s stock worth $917,000 after purchasing an additional 605 shares during the period. Gryphon Financial Partners LLC bought a new stake in MetLife during the 4th quarter valued at about $201,000. Cambridge Investment Research Advisors Inc. boosted its position 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 valued at $5,191,000 after buying an additional 5,707 shares during the period. US Bancorp DE grew its stake in MetLife by 1.3% in the 4th quarter. US Bancorp DE now owns 106,391 shares of the financial services provider’s stock worth $7,036,000 after acquiring 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% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 185,735 shares of the financial services provider’s stock valued at $12,283,000 after acquiring an additional 816 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Trading Down 1.2 %

Shares of NYSE:MET opened at $80.45 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market capitalization of $56.34 billion, a P/E ratio of 27.65, a P/E/G ratio of 0.66 and a beta of 1.04. The business’s 50-day moving average is $74.90 and its 200 day moving average is $72.78. MetLife, Inc. has a 1 year low of $57.91 and a 1 year high of $81.85.

MetLife (NYSE:MET) last announced its quarterly earnings data 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 firm had revenue of $17.82 billion during the quarter, compared to analyst estimates of $18.57 billion. MetLife had a net margin of 4.23% and a return on equity of 21.41%. MetLife’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm posted $1.94 EPS. On average, research analysts predict that MetLife, Inc. will post 8.68 earnings per share for the current fiscal year.

MetLife Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 6th were paid a dividend of $0.545 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $2.18 annualized dividend and a dividend yield of 2.71%. MetLife’s payout ratio is currently 74.91%.

Analysts Set New Price Targets

Several research analysts recently issued reports on MET shares. JPMorgan Chase & Co. increased their price objective on MetLife from $81.00 to $86.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 2nd. Barclays began coverage on MetLife in a research note on Wednesday, September 4th. They set an “overweight” rating and a $91.00 price target on the stock. Morgan Stanley lowered their price objective on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. Citigroup boosted their price target on shares of MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Wells Fargo & Company increased their price objective on shares of MetLife from $85.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company 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.