Summit Trail Advisors LLC Raises Stock Position in MetLife, Inc. (NYSE:MET)

Summit Trail Advisors LLC grew its holdings in shares of MetLife, Inc. (NYSE:MET) by 68.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,016 shares of the financial services provider’s stock after buying an additional 4,889 shares during the quarter. Summit Trail Advisors LLC’s holdings in MetLife were worth $843,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of 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 buying an additional 1,974,268 shares in the last quarter. Dimensional Fund Advisors LP grew its position in MetLife by 22.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,396,274 shares of the financial services provider’s stock worth $378,799,000 after purchasing an additional 988,666 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of MetLife by 3.2% during the second quarter. Envestnet Asset Management Inc. now owns 3,224,930 shares of the financial services provider’s stock valued at $226,358,000 after buying an additional 100,782 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of MetLife by 4.1% in the first 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 period. Finally, Bessemer Group Inc. lifted its stake in MetLife by 29.7% during the 1st quarter. Bessemer Group Inc. now owns 2,120,275 shares of the financial services provider’s stock valued at $157,133,000 after acquiring an additional 485,811 shares during the period. Institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

MET has been the subject of several analyst reports. StockNews.com cut MetLife from a “buy” rating to a “hold” rating in a report on Tuesday, September 10th. Keefe, Bruyette & Woods lowered their price target on MetLife from $86.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. Jefferies Financial Group increased their price objective on shares of MetLife from $83.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. raised their target price on MetLife from $81.00 to $86.00 and gave the company an “overweight” rating in a research report on Tuesday, July 2nd. Finally, Morgan Stanley lowered their target price on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, MetLife has an average rating of “Moderate Buy” and an average price target of $84.54.

MetLife Stock Performance

Shares of MetLife stock opened at $80.85 on Monday. The business has a 50-day simple moving average of $74.66 and a 200-day simple moving average of $72.64. The company has a market cap of $57.49 billion, a PE ratio of 27.78, a P/E/G ratio of 0.61 and a beta of 1.04. MetLife, Inc. has a one year low of $57.91 and a one year high of $81.39. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.16 and a current ratio of 0.16.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.15. The business had revenue of $17.82 billion for 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%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the business earned $1.94 EPS. On average, equities research analysts forecast that MetLife, Inc. will post 8.67 EPS for the current fiscal year.

MetLife Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 6th were given a dividend of $0.545 per share. The ex-dividend date was Tuesday, August 6th. This represents a $2.18 annualized dividend and a dividend yield of 2.70%. MetLife’s dividend payout ratio is presently 74.91%.

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.