Richardson Financial Services Inc. Has $162,000 Stock Position in MetLife, Inc. (NYSE:MET)

Richardson Financial Services Inc. cut its position in MetLife, Inc. (NYSE:MET) by 31.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,301 shares of the financial services provider’s stock after selling 1,052 shares during the quarter. Richardson Financial Services Inc.’s holdings in MetLife were worth $162,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of MET. Forum Financial Management LP increased its stake in shares of MetLife by 1.0% in the 2nd quarter. Forum Financial Management LP now owns 13,729 shares of the financial services provider’s stock valued at $964,000 after acquiring an additional 141 shares during the last quarter. Drive Wealth Management LLC increased its stake in MetLife by 3.5% in the second quarter. Drive Wealth Management LLC now owns 4,217 shares of the financial services provider’s stock valued at $296,000 after purchasing an additional 141 shares in the last quarter. Hills Bank & Trust Co raised its holdings in MetLife by 8.3% in the second quarter. Hills Bank & Trust Co now owns 1,855 shares of the financial services provider’s stock worth $130,000 after purchasing an additional 142 shares during the period. CNB Bank boosted its position in shares of MetLife by 9.3% during the first quarter. CNB Bank now owns 1,735 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 147 shares in the last quarter. Finally, Marcum Wealth LLC grew its holdings in shares of MetLife by 4.7% in the 1st quarter. Marcum Wealth LLC now owns 3,436 shares of the financial services provider’s stock valued at $255,000 after buying an additional 153 shares during the period. Institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on MET. Citigroup raised their price objective on MetLife from $83.00 to $89.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Bank of America dropped their price objective on shares of MetLife from $99.00 to $96.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Keefe, Bruyette & Woods cut their price target on MetLife from $86.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Barclays initiated coverage on MetLife in a report on Wednesday, September 4th. They set an “overweight” rating and a $91.00 price objective for the company. Finally, Wells Fargo & Company boosted their target price on MetLife from $85.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.54.

MetLife Trading Up 2.3 %

Shares of MetLife stock opened at $81.09 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a 50-day moving average of $74.51 and a 200-day moving average of $72.54. MetLife, Inc. has a 52-week low of $57.91 and a 52-week high of $81.39. The stock has a market cap of $57.66 billion, a PE ratio of 27.87, a PEG ratio of 0.61 and a beta of 1.04.

MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $18.57 billion. During the same quarter in the previous year, the firm posted $1.94 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side analysts forecast that MetLife, Inc. will post 8.67 EPS for the current year.

MetLife Dividend Announcement

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. This represents a $2.18 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Tuesday, August 6th. MetLife’s dividend payout ratio (DPR) 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.