Callan Family Office LLC Boosts Stock Position in MetLife, Inc. $MET

Key Points

• Callan Family Office LLC significantly increased its stake in MetLife, Inc. by 222.6%, acquiring 97,391 additional shares in the second quarter, bringing its total holdings to 141,146 shares valued at $11,351,000.
• Several research firms have raised their target prices for MetLife, with Barclays increasing the target from $93.00 to $98.00 and Jefferies Financial Group raising it from $100.00 to $103.00, showcasing a generally positive outlook among analysts.
• MetLife has declared a quarterly dividend of $0.5675 per share, scheduled for payment on December 9th, representing an annual yield of 2.8%.

Callan Family Office LLC grew its stake in shares of MetLife, Inc. (NYSE:MET - Free Report) by 222.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 141,146 shares of the financial services provider's stock after acquiring an additional 97,391 shares during the period. Callan Family Office LLC's holdings in MetLife were worth $11,351,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. GFG Capital LLC purchased a new stake in shares of MetLife in the second quarter worth $38,000. Leo Wealth LLC bought a new position in shares of MetLife during the second quarter valued at about $305,000. McElhenny Sheffield Capital Management LLC bought a new position in shares of MetLife during the second quarter valued at about $1,608,000. Tectonic Advisors LLC grew its stake in shares of MetLife by 5.9% in the second quarter. Tectonic Advisors LLC now owns 16,028 shares of the financial services provider's stock worth $1,289,000 after purchasing an additional 893 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its stake in shares of MetLife by 1.9% in the second quarter. Vontobel Holding Ltd. now owns 77,026 shares of the financial services provider's stock worth $6,194,000 after purchasing an additional 1,413 shares during the last quarter. Hedge funds and other institutional investors own 94.99% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MET. JPMorgan Chase & Co. raised their target price on MetLife from $86.00 to $95.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Morgan Stanley lifted their target price on shares of MetLife from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Tuesday. Wolfe Research raised shares of MetLife to a "strong-buy" rating in a research report on Tuesday, September 16th. Barclays raised their price target on shares of MetLife from $93.00 to $98.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Jefferies Financial Group lifted their target price on shares of MetLife from $100.00 to $103.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. 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 company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $95.18.

MetLife Stock Down 0.1%

MET opened at $81.94 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.16 and a current ratio of 0.16. MetLife, Inc. has a fifty-two week low of $65.21 and a fifty-two week high of $89.05. The firm's fifty day moving average is $79.56 and its 200 day moving average is $78.18. The stock has a market cap of $54.49 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 0.74 and a beta of 0.86.

MetLife (NYSE:MET - Get Free Report) last released 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). MetLife had a net margin of 5.83% and a return on equity of 19.88%. The firm had revenue of $17.34 billion for the quarter, compared to analysts' expectations of $18.58 billion. During the same quarter last year, the firm posted $2.28 EPS. The firm's quarterly revenue was down 2.7% compared to the same quarter last year. On average, sell-side analysts forecast that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.

MetLife Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 4th will be paid a $0.5675 dividend. The ex-dividend date is Tuesday, November 4th. This represents a $2.27 annualized dividend and a yield of 2.8%. MetLife's payout ratio is presently 38.47%.

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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