Meridian Wealth Management LLC Raises Stake in MetLife, Inc. (MET)
Meridian Wealth Management LLC raised its position in MetLife, Inc. (NYSE:MET) by 0.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 70,426 shares of the financial services provider’s stock after buying an additional 15 shares during the period. MetLife accounts for about 2.1% of Meridian Wealth Management LLC’s portfolio, making the stock its 12th largest position. Meridian Wealth Management LLC’s holdings in MetLife were worth $3,720,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Signature Estate & Investment Advisors LLC purchased a new stake in MetLife during the first quarter worth approximately $107,000. First Personal Financial Services boosted its stake in MetLife by 11.5% in the first quarter. First Personal Financial Services now owns 2,588 shares of the financial services provider’s stock worth $137,000 after buying an additional 266 shares during the last quarter. Westside Investment Management Inc. boosted its stake in MetLife by 583.8% in the first quarter. Westside Investment Management Inc. now owns 2,694 shares of the financial services provider’s stock worth $140,000 after buying an additional 2,300 shares during the last quarter. Parallel Advisors LLC boosted its stake in MetLife by 50.7% in the first quarter. Parallel Advisors LLC now owns 2,748 shares of the financial services provider’s stock worth $143,000 after buying an additional 924 shares during the last quarter. Finally, First Mercantile Trust Co. purchased a new stake in MetLife during the first quarter worth approximately $149,000. 74.69% of the stock is currently owned by institutional investors.
MetLife, Inc. (NYSE:MET) traded up 0.79% on Friday, reaching $53.92. 6,401,613 shares of the company’s stock traded hands. The stock has a market capitalization of $58.62 billion, a price-to-earnings ratio of 605.84 and a beta of 1.46. The firm has a 50-day moving average price of $54.59 and a 200-day moving average price of $53.07. MetLife, Inc. has a 52 week low of $38.87 and a 52 week high of $58.09.
MetLife (NYSE:MET) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.02. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The business had revenue of $17.39 billion during the quarter, compared to the consensus estimate of $17.11 billion. During the same period last year, the company earned $0.83 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts predict that MetLife, Inc. will post $5.36 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Thursday, August 3rd. MetLife’s dividend payout ratio (DPR) is presently 1,777.98%.
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MET has been the topic of a number of recent analyst reports. TheStreet cut shares of MetLife from a “b-” rating to a “c” rating in a research note on Tuesday, May 16th. Royal Bank Of Canada restated a “buy” rating and set a $62.00 target price on shares of MetLife in a research note on Wednesday, July 12th. Wells Fargo & Company restated a “buy” rating on shares of MetLife in a research note on Thursday, May 4th. Zacks Investment Research upgraded shares of MetLife from a “sell” rating to a “hold” rating in a research note on Friday, May 5th. Finally, ValuEngine upgraded shares of MetLife from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $59.02.
MetLife Company Profile
MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings; Brighthouse Financial, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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