20,000 Shares in MetLife, Inc. $MET Acquired by McElhenny Sheffield Capital Management LLC

Key Points

• McElhenny Sheffield Capital Management LLC acquired 20,000 shares of MetLife, Inc. during Q2, with a total investment of approximately $1.6 million.
• MetLife reported a missed earnings estimate for Q2, with earnings per share (EPS) of $2.02 compared to the anticipated $2.32, and revenue of $17.34 billion versus an expected $18.58 billion.
• The company announced a quarterly dividend of $0.5675 per share, to be paid on December 9, reflecting a 2.8% dividend yield.

McElhenny Sheffield Capital Management LLC purchased a new position in MetLife, Inc. (NYSE:MET - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 20,000 shares of the financial services provider's stock, valued at approximately $1,608,000.

A number of other institutional investors and hedge funds have also modified their holdings of MET. Brighton Jones LLC grew its holdings in shares of MetLife by 9.0% in the 4th quarter. Brighton Jones LLC now owns 4,240 shares of the financial services provider's stock worth $347,000 after acquiring an additional 351 shares during the period. UMB Bank n.a. grew its holdings in shares of MetLife by 8.9% in the 1st quarter. UMB Bank n.a. now owns 7,586 shares of the financial services provider's stock worth $609,000 after acquiring an additional 619 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of MetLife by 36.9% in the 1st quarter. Farther Finance Advisors LLC now owns 15,330 shares of the financial services provider's stock worth $1,244,000 after acquiring an additional 4,133 shares during the period. Pallas Capital Advisors LLC purchased a new stake in MetLife in the 1st quarter valued at approximately $474,000. Finally, GAMMA Investing LLC lifted its stake in MetLife by 10.7% in the 1st quarter. GAMMA Investing LLC now owns 10,162 shares of the financial services provider's stock valued at $816,000 after buying an additional 984 shares in the last quarter. Institutional investors and hedge funds own 94.99% of the company's stock.

MetLife Stock Performance

Shares of NYSE MET opened at $82.02 on Thursday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.57. The firm's 50-day moving average price is $79.44 and its two-hundred day moving average price is $78.20. MetLife, Inc. has a 52-week low of $65.21 and a 52-week high of $89.05. The stock has a market capitalization of $54.55 billion, a P/E ratio of 13.90, a P/E/G ratio of 0.75 and a beta of 0.86.

MetLife (NYSE:MET - Get Free Report) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.32 by ($0.30). The business had revenue of $17.34 billion during the quarter, compared to the consensus estimate of $18.58 billion. MetLife had a return on equity of 19.88% and a net margin of 5.83%.The business's revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.28 EPS. As a group, sell-side analysts forecast that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 4th will be paid a dividend of $0.5675 per share. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Tuesday, November 4th. MetLife's dividend payout ratio (DPR) is currently 38.47%.

Wall Street Analyst Weigh In

MET has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reduced their target price on MetLife from $94.00 to $92.00 and set an "outperform" rating on the stock in a research note on Monday, August 11th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of MetLife in a research note on Wednesday. Jefferies Financial Group upped their target price on MetLife from $100.00 to $103.00 and gave the company a "buy" rating in a research note on Monday, August 11th. Piper Sandler lowered MetLife from an "overweight" rating to a "neutral" rating and set a $84.00 target price on the stock. in a research note on Friday, September 19th. Finally, Barclays increased their price target on MetLife from $93.00 to $98.00 and gave the stock an "overweight" rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, MetLife presently has an average rating of "Moderate Buy" and a consensus target price of $95.18.

About MetLife

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.

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