Sequoia Financial Advisors LLC Has $1.53 Million Stock Position in MetLife, Inc. $MET

Key Points

• Sequoia Financial Advisors LLC increased its stake in MetLife, Inc. by 28.0%, now owning 19,068 shares valued at $1.53 million.
• MetLife's stock recently dropped 4.6%, with the company reporting $2.02 EPS for the quarter, missing estimates by $0.30.
• The company's upcoming quarterly dividend is $0.5675 per share, with an annual yield of 2.9% set to be paid on December 9th.

Sequoia Financial Advisors LLC grew its stake in shares of MetLife, Inc. (NYSE:MET - Free Report) by 28.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,068 shares of the financial services provider's stock after purchasing an additional 4,174 shares during the period. Sequoia Financial Advisors LLC's holdings in MetLife were worth $1,533,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of MetLife by 7.4% during 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 purchasing an additional 1,824,907 shares during the period. Pzena Investment Management LLC raised its holdings in shares of MetLife by 6.8% during the second quarter. Pzena Investment Management LLC now owns 9,144,635 shares of the financial services provider's stock valued at $735,412,000 after purchasing an additional 585,671 shares during the period. Bank of New York Mellon Corp raised its holdings 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 valued at $711,597,000 after purchasing an additional 36,177 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of MetLife by 3.6% during 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 purchasing an additional 259,993 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of MetLife by 0.8% during 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 purchasing an additional 57,221 shares during the period. Institutional investors and hedge funds own 94.99% of the company's stock.

MetLife Stock Down 4.6%

MET opened at $77.87 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.16 and a quick ratio of 0.16. The company's 50-day moving average is $80.15 and its 200 day moving average is $78.13. MetLife, Inc. has a fifty-two week low of $65.21 and a fifty-two week high of $89.05. The firm has a market capitalization of $51.79 billion, a P/E ratio of 13.20, a PEG ratio of 0.74 and a beta of 0.86.

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

MetLife Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 4th will be issued a dividend of $0.5675 per share. This represents a $2.27 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, November 4th. MetLife's dividend payout ratio (DPR) is 38.47%.

Analysts Set New Price Targets

A number of research analysts have weighed in on MET shares. Piper Sandler lowered shares of MetLife from an "overweight" rating to a "neutral" rating and set a $84.00 price objective on the stock. in a research note on Friday, September 19th. Keefe, Bruyette & Woods dropped their price objective on shares of MetLife from $94.00 to $92.00 and set an "outperform" rating on the stock in a research note on Monday, August 11th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of MetLife in a research note on Wednesday, October 8th. UBS Group dropped their price objective 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. Finally, Wolfe Research raised shares of MetLife to a "strong-buy" rating in a research report on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $95.18.

MetLife 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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