RBA Wealth Management LLC Grows Stock Position in MetLife, Inc. (NYSE:MET)


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RBA Wealth Management LLC boosted its holdings in MetLife, Inc. (NYSE:MET) by 1.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 68,520 shares of the financial services provider’s stock after purchasing an additional 974 shares during the quarter. MetLife comprises 3.5% of RBA Wealth Management LLC’s holdings, making the stock its 7th largest holding. RBA Wealth Management LLC’s holdings in MetLife were worth $4,165,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Private Trust Co. NA lifted its stake in MetLife by 4.6% in the 1st quarter. Private Trust Co. NA now owns 5,264 shares of the financial services provider’s stock worth $319,000 after purchasing an additional 233 shares in the last quarter. Berman Capital Advisors LLC grew its position in shares of MetLife by 39.1% in the 4th quarter. Berman Capital Advisors LLC now owns 847 shares of the financial services provider’s stock worth $39,000 after buying an additional 238 shares during the last quarter. YorkBridge Wealth Partners LLC lifted its holdings in MetLife by 2.7% in the fourth quarter. YorkBridge Wealth Partners LLC now owns 9,276 shares of the financial services provider’s stock worth $436,000 after buying an additional 248 shares during the period. Winslow Evans & Crocker Inc. lifted its position in MetLife by 5.6% during the fourth quarter. Winslow Evans & Crocker Inc. now owns 4,736 shares of the financial services provider’s stock valued at $222,000 after buying an additional 250 shares during the period. Finally, NEXT Financial Group Inc grew its holdings in MetLife by 2.5% in the fourth quarter. NEXT Financial Group Inc now owns 10,320 shares of the financial services provider’s stock worth $484,000 after purchasing an additional 251 shares during the period. Hedge funds and other institutional investors own 74.44% of the company’s stock.

In related news, CFO John D. Mccallion sold 7,456 shares of the company’s stock in a transaction that occurred on Friday, February 5th. The shares were sold at an average price of $52.22, for a total transaction of $389,352.32. Following the sale, the chief financial officer now directly owns 38,977 shares of the company’s stock, valued at approximately $2,035,378.94. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.07% of the stock is owned by corporate insiders.

Shares of MetLife stock traded up $0.82 on Friday, reaching $63.12. The company had a trading volume of 86,383 shares, compared to its average volume of 5,739,009. The firm’s 50 day moving average price is $60.47 and its two-hundred day moving average price is $49.79. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.15 and a current ratio of 0.15. MetLife, Inc. has a 52-week low of $29.18 and a 52-week high of $63.06. The firm has a market cap of $55.82 billion, a PE ratio of 10.23, a PEG ratio of 1.98 and a beta of 1.35.

MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, February 3rd. The financial services provider reported $2.03 EPS for the quarter, topping the consensus estimate of $1.53 by $0.50. MetLife had a net margin of 8.82% and a return on equity of 8.17%. The firm had revenue of $20.58 billion for the quarter, compared to analyst estimates of $16.12 billion. During the same period in the prior year, the business posted $1.98 EPS. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, sell-side analysts predict that MetLife, Inc. will post 5.65 EPS for the current year.

MET has been the subject of a number of recent analyst reports. Argus boosted their price objective on shares of MetLife from $53.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, February 17th. Barclays upped their price target on shares of MetLife from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Monday. They noted that the move was a valuation call. Morgan Stanley upped their target price on shares of MetLife from $60.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, April 1st. JPMorgan Chase & Co. upped their price objective on MetLife from $58.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, April 5th. Finally, Piper Sandler upgraded MetLife from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $45.00 to $52.00 in a research note on Wednesday, January 6th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $58.15.

MetLife Profile

MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses worldwide. It operates through five segments: U.S.; 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, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.

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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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