Kestra Investment Management LLC Sells 261 Shares of MetLife, Inc. (NYSE:MET)

Kestra Investment Management LLC decreased its holdings in shares of MetLife, Inc. (NYSE:MET) by 9.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,551 shares of the financial services provider’s stock after selling 261 shares during the period. Kestra Investment Management LLC’s holdings in MetLife were worth $209,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. MeadowBrook Investment Advisors LLC increased its holdings in shares of MetLife by 244.4% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock worth $26,000 after buying an additional 220 shares during the last quarter. Carmichael Hill & Associates Inc. grew its position in MetLife by 131.9% in the third quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 186 shares in the last quarter. Peterson Financial Group Inc. bought a new position in MetLife in the third quarter valued at $30,000. Retirement Wealth Solutions LLC purchased a new stake in MetLife during the fourth quarter valued at about $32,000. Finally, Sierra Ocean LLC bought a new stake in MetLife during the fourth quarter worth about $32,000. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Stock Performance

MetLife stock opened at $82.82 on Friday. The firm has a 50-day moving average of $83.45 and a 200-day moving average of $81.26. The firm has a market cap of $57.34 billion, a P/E ratio of 13.87, a P/E/G ratio of 0.65 and a beta of 1.07. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.54. MetLife, Inc. has a 1-year low of $67.30 and a 1-year high of $89.05.

MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, February 5th. The financial services provider reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.05). MetLife had a return on equity of 20.42% and a net margin of 6.19%. Sell-side analysts expect 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, March 11th. Investors of record on Tuesday, February 4th will be given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Tuesday, February 4th. MetLife’s dividend payout ratio is currently 36.52%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MET. TD Cowen increased their price objective on MetLife from $97.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. BMO Capital Markets initiated coverage on shares of MetLife in a research report on Thursday, January 23rd. They set a “market perform” rating and a $97.00 price target on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of MetLife from $100.00 to $98.00 and set an “outperform” rating for the company in a report on Wednesday, February 12th. Barclays reduced their target price on shares of MetLife from $96.00 to $95.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. Finally, Wells Fargo & Company boosted their price target on shares of MetLife from $92.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.58.

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.