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MetLife, Inc. $MET Shares Purchased by Simplicity Wealth LLC

MetLife logo with Finance background

Key Points

  • Simplicity Wealth LLC increased its stake in MetLife, Inc. by 91.7% during the 2nd quarter, now holding 13,897 shares valued at approximately $1,118,000.
  • JPMorgan Chase & Co. raised its price target for MetLife shares from $86.00 to $95.00, reflecting a positive outlook, with an average target of $94.64 among analysts.
  • MetLife reported earnings of $2.02 EPS for its last quarter, falling short of estimates, with a revenue of $17.34 billion, which is a 2.7% decrease from the previous year.
  • MarketBeat previews the top five stocks to own by November 1st.

Simplicity Wealth LLC boosted its holdings in MetLife, Inc. (NYSE:MET - Free Report) by 91.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 13,897 shares of the financial services provider's stock after buying an additional 6,649 shares during the period. Simplicity Wealth LLC's holdings in MetLife were worth $1,118,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MET. Price T Rowe Associates Inc. MD lifted its holdings 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 acquiring an additional 1,824,907 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of MetLife by 0.4% during the first quarter. Bank of New York Mellon Corp now owns 8,862,835 shares of the financial services provider's stock worth $711,597,000 after purchasing an additional 36,177 shares in the last quarter. Ameriprise Financial Inc. boosted its position 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 worth $594,410,000 after buying an additional 259,993 shares during the period. Northern Trust Corp grew 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 buying an additional 57,221 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of MetLife by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,671,435 shares of the financial services provider's stock valued at $535,568,000 after buying an additional 236,698 shares during the period. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MET shares. JPMorgan Chase & Co. upped their price target on MetLife from $86.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Wolfe Research raised shares of MetLife to a "strong-buy" rating in a report on Tuesday, September 16th. Wells Fargo & Company reiterated an "overweight" rating and issued a $97.00 price objective (up previously from $94.00) on shares of MetLife in a report on Thursday, July 10th. Jefferies Financial Group raised their target price on MetLife from $100.00 to $103.00 and gave the company a "buy" rating in a research note on Monday, August 11th. Finally, UBS Group cut their price target on MetLife from $94.00 to $91.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, MetLife presently has an average rating of "Moderate Buy" and an average price target of $94.64.

Check Out Our Latest Analysis on MET

MetLife Stock Performance

Shares of MET stock opened at $82.34 on Tuesday. The stock has a market capitalization of $54.76 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 0.74 and a beta of 0.86. MetLife, Inc. has a one year low of $65.21 and a one year high of $89.05. The company's 50-day simple moving average is $79.20 and its 200-day simple moving average is $78.14. 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 (NYSE:MET - Get Free Report) last announced its quarterly earnings data 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 net margin of 5.83% and a return on equity of 19.88%. The company's quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.28 EPS. Equities analysts anticipate that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.

MetLife Company Profile

(Free Report)

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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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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