Perfromance Wealth Partners LLC Invests $639,000 in MetLife, Inc. $MET

Key Points

• Perfromance Wealth Partners LLC has invested approximately $639,000 in MetLife, Inc. by purchasing 7,951 shares during the second quarter.
• MetLife recently reported an earnings miss with $2.02 EPS versus an expected $2.32, and revenue declined by 2.7% year-over-year.
• The company announced a quarterly dividend of $0.5675 payable on December 9th, with a current dividend yield of 2.8%.

Perfromance Wealth Partners LLC purchased a new stake in MetLife, Inc. (NYSE:MET - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm purchased 7,951 shares of the financial services provider's stock, valued at approximately $639,000.

Other institutional investors have also recently bought and sold shares of the company. Cornerstone Wealth Group LLC bought a new stake in MetLife in the second quarter valued at approximately $214,000. Community Bank N.A. grew its holdings in shares of MetLife by 35.0% in the 2nd quarter. Community Bank N.A. now owns 20,579 shares of the financial services provider's stock valued at $1,655,000 after buying an additional 5,335 shares during the period. NorthRock Partners LLC increased its position in shares of MetLife by 32.0% in the 2nd quarter. NorthRock Partners LLC now owns 9,751 shares of the financial services provider's stock valued at $784,000 after buying an additional 2,366 shares in the last quarter. Verdence Capital Advisors LLC raised its stake in MetLife by 18.8% during the 2nd quarter. Verdence Capital Advisors LLC now owns 29,617 shares of the financial services provider's stock worth $2,382,000 after buying an additional 4,695 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in MetLife by 3.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 27,656 shares of the financial services provider's stock worth $2,224,000 after acquiring an additional 858 shares in the last quarter. Institutional investors and hedge funds own 94.99% of the company's stock.

MetLife Price Performance

NYSE MET opened at $80.79 on Tuesday. 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, Inc. has a 12-month low of $65.21 and a 12-month high of $89.05. The company has a market capitalization of $53.73 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 0.72 and a beta of 0.86. The firm's 50 day moving average is $79.80 and its 200-day moving average is $78.09.

MetLife (NYSE:MET - Get Free Report) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $2.02 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.30). MetLife had a return on equity of 19.88% and a net margin of 5.83%.The business had revenue of $17.34 billion for the quarter, compared to analyst estimates of $18.58 billion. During the same quarter in the previous year, the company posted $2.28 EPS. The business's revenue for the quarter was down 2.7% compared to the same quarter last year. Equities research analysts anticipate that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.

MetLife Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MET shares. Wells Fargo & Company increased their price target on MetLife from $95.00 to $96.00 and gave the stock an "overweight" rating in a report on Wednesday, October 8th. Wolfe Research upgraded shares of MetLife to a "strong-buy" rating in a report on Tuesday, September 16th. UBS Group cut their price target on shares of MetLife from $94.00 to $91.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Jefferies Financial Group increased 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. Finally, Morgan Stanley raised their price objective on shares of MetLife from $94.00 to $97.00 and gave the stock an "overweight" rating in a report on Tuesday, October 7th. One investment 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's stock. According to data from MarketBeat, MetLife presently has an average rating of "Moderate Buy" and an average target price of $95.18.

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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