Allen Mooney & Barnes Investment Advisors LLC Sells 140,552 Shares of MetLife, Inc. $MET

Key Points

• Allen Mooney & Barnes Investment Advisors LLC significantly reduced its stake in MetLife, Inc. by 95.6%, selling 140,552 shares in the second quarter.
• MetLife reported quarterly earnings of $2.02 per share, which missed estimates by $0.30, with revenue decreasing by 2.7% year-over-year.
• The company declared a quarterly dividend of $0.5675 per share, representing an annualized dividend of $2.27 and a yield of 2.8%.

Allen Mooney & Barnes Investment Advisors LLC lowered its position in MetLife, Inc. (NYSE:MET - Free Report) by 95.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,407 shares of the financial services provider's stock after selling 140,552 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC's holdings in MetLife were worth $515,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MET. Diamond Hill Capital Management Inc. bought a new stake in shares of MetLife in the 1st quarter worth approximately $336,965,000. Nuveen LLC acquired a new position in shares of MetLife in the 1st quarter worth approximately $312,946,000. Price T Rowe Associates Inc. MD raised its holdings in shares of MetLife by 7.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,488,146 shares of the financial services provider's stock worth $2,126,734,000 after buying an additional 1,824,907 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of MetLife in the 1st quarter worth approximately $68,030,000. Finally, GAMMA Investing LLC raised its holdings in shares of MetLife by 8,789.6% in the 1st quarter. GAMMA Investing LLC now owns 815,889 shares of the financial services provider's stock worth $65,508,000 after buying an additional 806,711 shares in the last quarter. Institutional investors own 94.99% of the company's stock.

MetLife Stock Up 0.6%

Shares of MET opened at $80.86 on Monday. MetLife, Inc. has a 52 week low of $65.21 and a 52 week high of $89.05. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market capitalization of $53.77 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 0.73 and a beta of 0.87. The business's fifty day moving average price is $78.24 and its two-hundred day moving average price is $78.25.

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

MetLife Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Cowen reissued a "buy" rating on shares of MetLife in a report on Friday, August 22nd. Keefe, Bruyette & Woods dropped their target price on MetLife from $94.00 to $92.00 and set an "outperform" rating for the company in a report on Monday, August 11th. Morgan Stanley dropped their target price on MetLife from $98.00 to $94.00 and set an "overweight" rating for the company in a report on Monday, August 18th. UBS Group dropped their price target on MetLife from $94.00 to $91.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Finally, Wall Street Zen cut MetLife from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $95.60.

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.

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