A. D. Beadell Investment Counsel Inc. Takes Position in MetLife, Inc. $MET

Key Points

• A. D. Beadell Investment Counsel Inc. has acquired a new stake in MetLife, purchasing 3,590 shares valued at approximately $288,000.
• MetLife reported Q2 earnings of $2.02 per share, missing analysts' expectations, with revenues also falling short at $17.34 billion.
• The company announced a quarterly dividend of $0.5675, reflecting an annualized yield of 2.8% and a payout ratio of 38.47%.

A. D. Beadell Investment Counsel Inc. purchased a new stake in shares of MetLife, Inc. (NYSE:MET - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,590 shares of the financial services provider's stock, valued at approximately $288,000.

Several other large investors have also recently modified their holdings of the business. Dakota Wealth Management raised its stake in shares of MetLife by 18.6% during the second quarter. Dakota Wealth Management now owns 5,958 shares of the financial services provider's stock valued at $479,000 after acquiring an additional 935 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in MetLife by 7.6% during the 2nd quarter. TD Private Client Wealth LLC now owns 68,219 shares of the financial services provider's stock worth $5,486,000 after purchasing an additional 4,829 shares during the last quarter. Foster Victor Wealth Advisors LLC raised its holdings in MetLife by 2.1% during the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 137,966 shares of the financial services provider's stock worth $10,794,000 after purchasing an additional 2,875 shares during the last quarter. Northside Capital Management LLC bought a new position in MetLife during the 2nd quarter worth approximately $552,000. Finally, Ballentine Partners LLC raised its holdings in MetLife by 27.7% during the 2nd quarter. Ballentine Partners LLC now owns 18,149 shares of the financial services provider's stock worth $1,460,000 after purchasing an additional 3,942 shares during the last quarter. Institutional investors own 94.99% of the company's stock.

MetLife Trading Down 0.5%

NYSE MET opened at $80.28 on Friday. The company has a market cap of $53.39 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 0.73 and a beta of 0.87. MetLife, Inc. has a 52 week low of $65.21 and a 52 week high of $89.05. The business has a 50 day moving average price of $78.59 and a 200-day moving average price of $78.12. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.57.

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

MetLife Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 5th were issued a $0.5675 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $2.27 annualized dividend and a dividend yield of 2.8%. MetLife's dividend payout ratio is currently 38.47%.

Analyst Ratings Changes

Several research analysts have issued reports on MET shares. Cowen restated a "buy" rating on shares of MetLife in a report on Friday, August 22nd. Morgan Stanley lowered their price target on shares of MetLife from $98.00 to $94.00 and set an "overweight" rating for the company in a report on Monday, August 18th. Piper Sandler lowered shares of MetLife from an "overweight" rating to a "neutral" rating and set a $84.00 price target for the company. in a report on Friday, September 19th. UBS Group lowered their price target on shares of MetLife from $94.00 to $91.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. increased their price target on MetLife from $86.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, MetLife currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.64.

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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