J.W. Cole Advisors Inc. Reduces Stock Holdings in MetLife, Inc. (NYSE:MET)

J.W. Cole Advisors Inc. cut its holdings in MetLife, Inc. (NYSE:MET) by 13.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,740 shares of the financial services provider’s stock after selling 877 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in MetLife were worth $403,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. GoalVest Advisory LLC raised its position in shares of MetLife by 73.3% in the 1st quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 165 shares during the last quarter. Pineridge Advisors LLC acquired a new position in MetLife during the 4th quarter valued at approximately $39,000. Bank & Trust Co purchased a new position in shares of MetLife in the second quarter worth $39,000. Crewe Advisors LLC lifted its stake in shares of MetLife by 602.5% during the second quarter. Crewe Advisors LLC now owns 562 shares of the financial services provider’s stock worth $39,000 after buying an additional 482 shares during the period. Finally, Larson Financial Group LLC grew its holdings in shares of MetLife by 72.6% during the second quarter. Larson Financial Group LLC now owns 568 shares of the financial services provider’s stock valued at $40,000 after buying an additional 239 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

MetLife Trading Up 1.2 %

MET stock opened at $78.29 on Wednesday. MetLife, Inc. has a 52-week low of $57.91 and a 52-week high of $79.34. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.56. The firm has a market cap of $55.67 billion, a P/E ratio of 26.90, a PEG ratio of 0.61 and a beta of 1.04. The company’s 50-day simple moving average is $74.19 and its 200-day simple moving average is $72.43.

MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. MetLife’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 posted $1.94 earnings per share. As a group, equities analysts forecast that MetLife, Inc. will post 8.67 EPS for the current fiscal year.

MetLife Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 6th were paid a $0.545 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $2.18 dividend on an annualized basis and a yield of 2.78%. MetLife’s dividend payout ratio is currently 74.91%.

Wall Street Analysts Forecast Growth

MET has been the subject of a number of research analyst reports. StockNews.com lowered MetLife from a “buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Morgan Stanley decreased their target price on MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a report on Monday, August 19th. Argus increased their price target on shares of MetLife from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Citigroup raised their price target on shares of MetLife from $83.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, Jefferies Financial Group increased their price objective on shares of MetLife from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, MetLife currently has a consensus rating of “Moderate Buy” and a consensus target price 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.