Farther Finance Advisors LLC Has $1.99 Million Stock Holdings in MetLife, Inc. $MET

Key Points

• Farther Finance Advisors LLC increased its stake in MetLife, Inc. by 61.1% during Q2, holding 24,696 shares worth approximately $1.99 million.
• MetLife's stock recently rose by 2.4%, trading at $81.07, and analysts have set a consensus price target of $94.64 for the stock.
• The company's quarterly earnings fell short of expectations, reporting an EPS of $2.02 compared to a consensus estimate of $2.32, and had a 2.8% dividend yield with a payout ratio of 38.47%.

Farther Finance Advisors LLC grew its position in MetLife, Inc. (NYSE:MET - Free Report) by 61.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,696 shares of the financial services provider's stock after acquiring an additional 9,366 shares during the period. Farther Finance Advisors LLC's holdings in MetLife were worth $1,986,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in shares of MetLife by 7.4% in the first 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 acquiring an additional 1,824,907 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of MetLife by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 8,862,835 shares of the financial services provider's stock valued at $711,597,000 after acquiring an additional 36,177 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of MetLife by 3.6% in the first quarter. Ameriprise Financial Inc. now owns 7,406,512 shares of the financial services provider's stock valued at $594,410,000 after acquiring an additional 259,993 shares during the last quarter. Northern Trust Corp raised its stake in shares of MetLife by 0.8% in the first quarter. Northern Trust Corp now owns 7,109,423 shares of the financial services provider's stock valued at $570,816,000 after acquiring an additional 57,221 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of MetLife by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 6,671,435 shares of the financial services provider's stock valued at $535,568,000 after acquiring an additional 236,698 shares during the last quarter. Institutional investors own 94.99% of the company's stock.

MetLife Stock Up 2.4%

MetLife stock opened at $81.07 on Tuesday. The company's 50-day moving average price is $78.37 and its two-hundred day moving average price is $78.08. MetLife, Inc. has a twelve month low of $65.21 and a twelve month high of $89.05. The stock has a market cap of $53.91 billion, a P/E ratio of 13.74, a P/E/G ratio of 0.71 and a beta of 0.87. 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 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). The firm had revenue of $17.34 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the business posted $2.28 EPS. As a group, analysts expect that MetLife, Inc. will post 9.65 EPS for the current year.

MetLife Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MET. JPMorgan Chase & Co. boosted their price objective on shares of MetLife from $86.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Piper Sandler cut shares of MetLife from an "overweight" rating to a "neutral" rating and set a $84.00 price objective for the company. in a research report on Friday. UBS Group dropped their price objective on shares of MetLife from $94.00 to $91.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Keefe, Bruyette & Woods dropped their price objective on shares of MetLife from $94.00 to $92.00 and set an "outperform" rating for the company in a research report on Monday, August 11th. Finally, Jefferies Financial Group boosted their price objective 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 analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average 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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