Allworth Financial LP Sells 2,236 Shares of MetLife, Inc. (NYSE:MET)

Allworth Financial LP trimmed its holdings in shares of MetLife, Inc. (NYSE:MET) by 31.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,795 shares of the financial services provider’s stock after selling 2,236 shares during the quarter. Allworth Financial LP’s holdings in MetLife were worth $395,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in MetLife by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 59,622,348 shares of the financial services provider’s stock worth $4,418,612,000 after acquiring an additional 1,974,268 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of MetLife by 22.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,396,274 shares of the financial services provider’s stock valued at $378,799,000 after purchasing an additional 988,666 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of MetLife by 5.4% in the 2nd quarter. Legal & General Group Plc now owns 5,299,800 shares of the financial services provider’s stock valued at $371,993,000 after purchasing an additional 269,246 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of MetLife by 3.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,224,930 shares of the financial services provider’s stock valued at $226,358,000 after purchasing an additional 100,782 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of MetLife by 4.1% in the 1st quarter. Nordea Investment Management AB now owns 2,772,751 shares of the financial services provider’s stock valued at $205,544,000 after purchasing an additional 108,739 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

MetLife Stock Performance

MET opened at $82.86 on Wednesday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.56. The company’s fifty day moving average price is $80.21 and its two-hundred day moving average price is $74.69. MetLife, Inc. has a 1-year low of $58.48 and a 1-year high of $86.94. The company has a market cap of $58.03 billion, a price-to-earnings ratio of 22.33, a PEG ratio of 0.70 and a beta of 1.04.

MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.15. MetLife had a net margin of 4.23% and a return on equity of 21.41%. The firm had revenue of $17.82 billion for the quarter, compared to the consensus estimate of $18.57 billion. During the same quarter in the prior year, the company posted $1.94 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. On average, analysts expect that MetLife, Inc. will post 8.58 EPS for the current fiscal year.

MetLife Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, November 5th will be issued 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 2.63%. MetLife’s payout ratio is 58.76%.

Analyst Ratings Changes

MET has been the topic of a number of analyst reports. Piper Sandler upped their price objective on shares of MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group upped their price objective on shares of MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, September 27th. TD Cowen initiated coverage on shares of MetLife in a research note on Wednesday, October 9th. They issued a “buy” rating and a $97.00 price objective on the stock. Citigroup upped their price objective on shares of MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, StockNews.com downgraded shares of MetLife from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, MetLife has an average rating of “Moderate Buy” and a consensus target price of $88.46.

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.