MetLife, Inc. $MET Holdings Raised by Lido Advisors LLC

Key Points

• Lido Advisors LLC nearly doubled its MetLife stake in the first quarter, increasing holdings by 94.7% to 56,072 shares worth about $3.97 million.
• Several analysts turned more bullish on MetLife, with multiple firms raising price targets and the stock now carrying a Moderate Buy consensus with an average target of $100.50.
• MetLife reported better-than-expected earnings of $2.42 per share in its latest quarter and announced a quarterly dividend of $0.5925, implying a 2.5% annual yield.

Lido Advisors LLC lifted its position in shares of MetLife, Inc. (NYSE:MET - Free Report) by 94.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,072 shares of the financial services provider's stock after acquiring an additional 27,272 shares during the period. Lido Advisors LLC's holdings in MetLife were worth $3,966,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in shares of MetLife by 9.0% in the 4th quarter. Brighton Jones LLC now owns 4,240 shares of the financial services provider's stock valued at $347,000 after buying an additional 351 shares during the period. Caxton Associates LLP bought a new position in MetLife in the first quarter worth about $307,000. Empowered Funds LLC lifted its holdings in MetLife by 187.6% in the first quarter. Empowered Funds LLC now owns 33,378 shares of the financial services provider's stock worth $2,680,000 after acquiring an additional 21,771 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in MetLife in the second quarter valued at approximately $404,000. Finally, Jump Financial LLC bought a new position in shares of MetLife during the second quarter valued at approximately $444,000. Institutional investors and hedge funds own 94.99% of the company's stock.

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Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MET. Wells Fargo & Company raised their price target on MetLife from $95.00 to $101.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. JPMorgan Chase & Co. increased their target price on MetLife from $96.00 to $106.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 21st. Jefferies Financial Group raised their target price on MetLife from $97.00 to $103.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Piper Sandler boosted their price target on shares of MetLife from $86.00 to $90.00 and gave the company a "neutral" rating in a report on Wednesday, June 24th. Finally, Atlantic Securities set a $103.00 price target on shares of MetLife in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $100.50.

MetLife Stock Up 2.3%

MET opened at $94.67 on Friday. The stock's 50 day moving average price is $87.27 and its 200 day moving average price is $79.55. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.20 and a quick ratio of 0.20. The stock has a market cap of $60.91 billion, a P/E ratio of 18.35, a P/E/G ratio of 0.72 and a beta of 0.78. MetLife, Inc. has a 12 month low of $67.33 and a 12 month high of $94.86.

MetLife (NYSE:MET - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.27 by $0.15. MetLife had a return on equity of 22.60% and a net margin of 4.66%.The company had revenue of $14.18 billion during the quarter, compared to analyst estimates of $19.49 billion. The firm's quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.96 EPS. As a group, research analysts predict that MetLife, Inc. will post 9.89 earnings per share for the current year.

MetLife Dividend Announcement

The business also recently announced 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. This represents a $2.37 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, August 4th. MetLife's dividend payout ratio is currently 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.

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