Verity & Verity LLC Acquires 2,593 Shares of MetLife, Inc. (NYSE:MET)

Verity & Verity LLC boosted its holdings in shares of MetLife, Inc. (NYSE:MET) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,732 shares of the financial services provider’s stock after acquiring an additional 2,593 shares during the quarter. MetLife accounts for about 1.7% of Verity & Verity LLC’s portfolio, making the stock its 23rd largest position. Verity & Verity LLC’s holdings in MetLife were worth $14,861,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. GoalVest Advisory LLC raised its position in shares of MetLife by 73.3% during the first quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 165 shares during the last quarter. Pineridge Advisors LLC acquired a new position in shares of MetLife in the 4th quarter worth approximately $39,000. Bank & Trust Co acquired a new stake in shares of MetLife during the second quarter worth $39,000. Crewe Advisors LLC raised its stake in 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 last quarter. Finally, Larson Financial Group LLC lifted its holdings in MetLife by 72.6% in 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 period. Institutional investors own 89.81% of the company’s stock.

MetLife Price Performance

MetLife stock opened at $81.81 on Wednesday. The business’s 50 day simple moving average is $75.54 and its 200 day simple moving average is $73.12. MetLife, Inc. has a 12 month low of $57.91 and a 12 month high of $82.99. The company has a market cap of $58.18 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 0.66 and a beta of 1.04. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.56.

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, topping the consensus estimate of $2.13 by $0.15. The company had revenue of $17.82 billion during the quarter, compared to analyst estimates of $18.57 billion. MetLife had a return on equity of 21.41% and a net margin of 4.23%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.94 EPS. Sell-side analysts forecast that MetLife, Inc. will post 8.68 EPS for the current year.

MetLife Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 6th were issued a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend was Tuesday, August 6th. MetLife’s dividend payout ratio (DPR) is presently 74.91%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MET shares. Citigroup upped their target price on MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group increased their price target on MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Wells Fargo & Company boosted their target price on shares of MetLife from $85.00 to $86.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Barclays started coverage on shares of MetLife in a research note on Wednesday, September 4th. They set an “overweight” rating and a $91.00 target price on the stock. Finally, Morgan Stanley decreased their price target on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $85.23.

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.