Verdence Capital Advisors LLC Has $2.38 Million Stock Position in MetLife, Inc. $MET

Key Points

• Verdence Capital Advisors LLC increased its stake in MetLife, Inc. by 18.8% in the second quarter, owning 29,617 shares valued at approximately $2.38 million.
• MetLife's recent quarterly earnings report showed a missed EPS estimate of $2.02, falling short of the expected $2.32, with revenue declining 2.7% year-over-year.
• The company declared a quarterly dividend of $0.5675, with a dividend yield of 2.8% and a payout ratio of 38.47%.

Verdence Capital Advisors LLC raised its stake in shares of MetLife, Inc. (NYSE:MET - Free Report) by 18.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,617 shares of the financial services provider's stock after purchasing an additional 4,695 shares during the quarter. Verdence Capital Advisors LLC's holdings in MetLife were worth $2,382,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. North Capital Inc. acquired a new stake in MetLife during the first quarter valued at approximately $26,000. Motco boosted its holdings in shares of MetLife by 105.5% in the 1st quarter. Motco now owns 413 shares of the financial services provider's stock worth $33,000 after acquiring an additional 212 shares in the last quarter. GFG Capital LLC acquired a new position in shares of MetLife in the 2nd quarter worth approximately $38,000. Abound Wealth Management boosted its holdings in shares of MetLife by 652.3% in the 2nd quarter. Abound Wealth Management now owns 489 shares of the financial services provider's stock worth $39,000 after acquiring an additional 424 shares in the last quarter. Finally, Legend Financial Advisors Inc. acquired a new position in shares of MetLife in the 2nd quarter worth approximately $40,000. 94.99% of the stock is owned by institutional investors and hedge funds.

MetLife Stock Down 2.6%

NYSE:MET opened at $79.88 on Monday. The stock's fifty day moving average price is $79.68 and its two-hundred day moving average price is $78.08. MetLife, Inc. has a 52-week low of $65.21 and a 52-week high of $89.05. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market cap of $53.12 billion, a price-to-earnings ratio of 13.54, a P/E/G ratio of 0.72 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 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 firm had revenue of $17.34 billion for the quarter, compared to analyst estimates of $18.58 billion. During the same period in the prior year, the company posted $2.28 EPS. The firm's quarterly revenue was down 2.7% compared to the same quarter last year. On average, analysts anticipate that MetLife, Inc. will post 9.65 EPS for the current year.

MetLife Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on MET shares. Keefe, Bruyette & Woods reduced their target price on MetLife from $94.00 to $92.00 and set an "outperform" rating on the stock in a report on Monday, August 11th. Piper Sandler downgraded MetLife from an "overweight" rating to a "neutral" rating and set a $84.00 target price on the stock. in a report on Friday, September 19th. Cowen reissued a "buy" rating on shares of MetLife in a report on Friday, August 22nd. Barclays boosted their target price on MetLife from $93.00 to $98.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Jefferies Financial Group upped their price objective on MetLife from $100.00 to $103.00 and gave the stock a "buy" rating in a report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $95.18.

About MetLife

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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