Kestra Advisory Services LLC Has $8.15 Million Stake in MetLife, Inc. $MET

Key Points

• Kestra Advisory Services LLC increased its MetLife stake by 15.3% in the first quarter, holding 115,284 shares worth about $8.15 million after adding 15,340 shares.
• Several analysts turned more positive on MetLife, with firms like UBS, Barclays, Jefferies, and Mizuho raising price targets; the stock now has a consensus rating of Moderate Buy and an average target of $98.23.
• MetLife shares were trading near their 52-week high at $93.04, after the company posted better-than-expected EPS of $2.42 and announced a quarterly dividend of $0.5925 per share, equal to a 2.5% annualized yield.

Kestra Advisory Services LLC grew its position in MetLife, Inc. (NYSE:MET - Free Report) by 15.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 115,284 shares of the financial services provider's stock after purchasing an additional 15,340 shares during the quarter. Kestra Advisory Services LLC's holdings in MetLife were worth $8,153,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Activest Wealth Management boosted its position in MetLife by 205.8% during the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 212 shares during the last quarter. Vermillion & White Wealth Management Group LLC raised its position in shares of MetLife by 790.0% in the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider's stock worth $29,000 after acquiring an additional 316 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new position in shares of MetLife in the 4th quarter worth about $30,000. Sound Income Strategies LLC lifted its stake in shares of MetLife by 58.9% in the 4th quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 142 shares during the period. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of MetLife during the 4th quarter valued at about $31,000. 94.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on MET shares. UBS Group raised their target price on MetLife from $102.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Barclays increased their price target on MetLife from $93.00 to $94.00 and gave the stock an "overweight" rating in a report on Tuesday, July 7th. Jefferies Financial Group raised their price objective on shares of MetLife from $97.00 to $103.00 and gave the stock a "buy" rating in a research report on Friday. Piper Sandler lifted their price objective on shares of MetLife from $86.00 to $90.00 and gave the company a "neutral" rating in a research note on Wednesday, June 24th. Finally, Mizuho boosted their target price on shares of MetLife from $95.00 to $102.00 and gave the company an "outperform" rating in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.23.

MetLife Stock Up 1.5%

MET stock opened at $93.04 on Tuesday. The stock's 50 day simple moving average is $84.69 and its 200 day simple moving average is $78.71. MetLife, Inc. has a fifty-two week low of $67.33 and a fifty-two week high of $93.16. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.20 and a current ratio of 0.20. The company has a market cap of $59.86 billion, a P/E ratio of 18.03, a price-to-earnings-growth ratio of 0.69 and a beta of 0.78.

MetLife (NYSE:MET - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.15. The business had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $19.49 billion. MetLife had a net margin of 4.66% and a return on equity of 22.60%. MetLife's revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.96 EPS. On average, research analysts expect that MetLife, Inc. will post 9.97 earnings per share for the current fiscal year.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Tuesday, August 4th will be given a $0.5925 dividend. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $2.37 annualized dividend and a yield of 2.5%. MetLife's dividend payout ratio (DPR) is presently 45.93%.

MetLife Company Profile

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.