Commonwealth Retirement Investments LLC Sells 7,657 Shares of MetLife, Inc. $MET

Commonwealth Retirement Investments LLC trimmed its stake in MetLife, Inc. (NYSE:MET) by 22.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,383 shares of the financial services provider’s stock after selling 7,657 shares during the quarter. Commonwealth Retirement Investments LLC’s holdings in MetLife were worth $2,122,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Crestwood Advisors Group LLC grew its stake in MetLife by 8.8% in the second quarter. Crestwood Advisors Group LLC now owns 6,207 shares of the financial services provider’s stock valued at $499,000 after purchasing an additional 503 shares in the last quarter. Cassaday & Co Wealth Management LLC grew its stake in MetLife by 10.3% in the second quarter. Cassaday & Co Wealth Management LLC now owns 3,066 shares of the financial services provider’s stock valued at $247,000 after purchasing an additional 287 shares in the last quarter. Transatlantique Private Wealth LLC grew its stake in MetLife by 8.1% in the second quarter. Transatlantique Private Wealth LLC now owns 6,066 shares of the financial services provider’s stock valued at $488,000 after purchasing an additional 453 shares in the last quarter. Machina Capital S.A.S. bought a new position in MetLife in the second quarter valued at approximately $1,556,000. Finally, Burney Co. boosted its stake in shares of MetLife by 1.3% during the 2nd quarter. Burney Co. now owns 69,076 shares of the financial services provider’s stock worth $5,555,000 after acquiring an additional 908 shares during the period. 94.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MET. Wolfe Research upgraded MetLife to a “strong-buy” rating in a research note on Tuesday, September 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of MetLife in a research note on Wednesday, October 8th. Piper Sandler downgraded MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 target price for the company. in a research note on Friday, September 19th. Jefferies Financial Group lifted their target price on MetLife from $100.00 to $103.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Finally, JPMorgan Chase & Co. lifted their target price on MetLife from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. 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, the stock has an average rating of “Moderate Buy” and an average price target of $95.18.

MetLife Stock Performance

MET opened at $79.41 on Wednesday. The business has a fifty day simple moving average of $80.29 and a 200 day simple moving average of $78.77. The company has a market capitalization of $52.81 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 0.70 and a beta of 0.86. MetLife, Inc. has a 1 year low of $65.21 and a 1 year high of $89.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.16 and a quick ratio of 0.16.

MetLife (NYSE:MET) last released its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $18.58 billion. MetLife had a net margin of 5.83% and a return on equity of 19.88%. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.28 earnings per share. Research analysts expect that MetLife, Inc. will post 9.65 EPS for the current year.

MetLife Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 4th will be paid a $0.5675 dividend. The ex-dividend date is Tuesday, November 4th. This represents a $2.27 annualized dividend and a yield of 2.9%. MetLife’s payout ratio is 38.47%.

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.