Atria Wealth Solutions Inc. Sells 4,038 Shares of MetLife, Inc. $MET

Key Points

• Atria Wealth Solutions Inc. reduced its stake in MetLife, Inc. by 21.7%, owning 14,583 shares after selling 4,038 shares in the second quarter, valued at approximately $1,174,000.
• MetLife's stock opened at $77.87 and reported earnings of $2.02 per share for the last quarter, missing estimates of $2.32 by $0.30, with revenue down 2.7% year-over-year.
• The company declared a quarterly dividend of $0.5675 per share, payable on December 9th, with a current yield of 2.9% and a payout ratio of 38.47%.

Atria Wealth Solutions Inc. decreased its stake in MetLife, Inc. (NYSE:MET - Free Report) by 21.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,583 shares of the financial services provider's stock after selling 4,038 shares during the period. Atria Wealth Solutions Inc.'s holdings in MetLife were worth $1,174,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MET. Diamond Hill Capital Management Inc. bought a new stake in shares of MetLife in the first quarter valued at approximately $336,965,000. Nuveen LLC bought a new stake in shares of MetLife during the 1st quarter valued at $312,946,000. Price T Rowe Associates Inc. MD raised its stake in shares of MetLife by 7.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,488,146 shares of the financial services provider's stock valued at $2,126,734,000 after purchasing an additional 1,824,907 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of MetLife during the 1st quarter valued at $68,030,000. Finally, AQR Capital Management LLC raised its stake in shares of MetLife by 85.0% during the 1st quarter. AQR Capital Management LLC now owns 1,321,881 shares of the financial services provider's stock valued at $104,270,000 after purchasing an additional 607,333 shares during the period. 94.99% of the stock is currently owned by institutional investors.

MetLife Price Performance

MET opened at $77.87 on Friday. The stock's 50 day simple moving average is $80.15 and its 200 day simple moving average is $78.13. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.16 and a quick ratio of 0.16. MetLife, Inc. has a 1 year low of $65.21 and a 1 year high of $89.05. The firm has a market cap of $51.79 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 0.74 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 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 firm 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 posted $2.28 EPS. The firm's revenue for the quarter was down 2.7% on a year-over-year basis. As a group, analysts predict that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 4th will be issued a $0.5675 dividend. This represents a $2.27 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, November 4th. MetLife's dividend payout ratio (DPR) is 38.47%.

Analyst Ratings Changes

MET has been the topic of several research analyst reports. Jefferies Financial Group upped their price target on shares of MetLife from $100.00 to $103.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Cowen restated a "buy" rating on shares of MetLife in a research note on Friday, August 22nd. Wolfe Research upgraded MetLife to a "strong-buy" rating in a research note on Tuesday, September 16th. Barclays increased their price target on shares of MetLife from $93.00 to $98.00 and gave the stock an "overweight" rating in a report on Wednesday, October 8th. Finally, Wells Fargo & Company increased their target price on MetLife from $95.00 to $96.00 and gave the company an "overweight" rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, MetLife presently has an average rating of "Moderate Buy" and a consensus price target of $95.18.

MetLife Company 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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