Providence Capital Advisors LLC Has $5.83 Million Stake in MetLife, Inc. (NYSE:MET)

Providence Capital Advisors LLC grew its stake in MetLife, Inc. (NYSE:MET) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,096 shares of the financial services provider’s stock after purchasing an additional 2,400 shares during the period. MetLife comprises about 1.3% of Providence Capital Advisors LLC’s investment portfolio, making the stock its 29th biggest position. Providence Capital Advisors LLC’s holdings in MetLife were worth $5,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of MET. GoalVest Advisory LLC grew its position in MetLife by 73.3% in the 1st quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 165 shares during the last quarter. Pineridge Advisors LLC acquired a new stake in MetLife in the 4th quarter worth $39,000. Bank & Trust Co acquired a new stake in shares of MetLife during the 2nd quarter valued at about $39,000. Crewe Advisors LLC boosted its position in shares of MetLife by 602.5% during the 2nd quarter. Crewe Advisors LLC now owns 562 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 482 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of MetLife by 72.6% during the 2nd quarter. Larson Financial Group LLC now owns 568 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 239 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

MetLife Stock Up 0.8 %

Shares of NYSE MET opened at $81.47 on Tuesday. The stock has a market cap of $57.94 billion, a P/E ratio of 28.00, a P/E/G ratio of 0.61 and a beta of 1.04. The firm has a 50 day moving average price of $74.80 and a 200 day moving average price of $72.71. 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, Inc. has a 52-week low of $57.91 and a 52-week high of $81.85.

MetLife (NYSE:MET) last issued 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. The firm had revenue of $17.82 billion during the quarter, compared to analysts’ expectations of $18.57 billion. MetLife had a net margin of 4.23% and a return on equity of 21.41%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.94 earnings per share. Analysts expect 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. Stockholders of record on Tuesday, August 6th were issued a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 2.68%. The ex-dividend date was Tuesday, August 6th. MetLife’s dividend payout ratio (DPR) is presently 74.91%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MET. Keefe, Bruyette & Woods decreased their target price on shares of MetLife from $86.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. Citigroup lifted their target price on shares of MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com downgraded shares of MetLife from a “buy” rating to a “hold” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. lifted their price target on shares of MetLife from $81.00 to $86.00 and gave the company an “overweight” rating in a report on Tuesday, July 2nd. Finally, Jefferies Financial Group boosted their target price 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 given a buy rating to the company’s stock. According to MarketBeat, MetLife has a consensus rating of “Moderate Buy” and an average 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.