Pathway Financial Advisers LLC Has $2.19 Million Position in MetLife, Inc. (NYSE:MET)

Pathway Financial Advisers LLC cut its holdings in shares of MetLife, Inc. (NYSE:MET) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,311 shares of the financial services provider’s stock after selling 385 shares during the quarter. Pathway Financial Advisers LLC’s holdings in MetLife were worth $2,189,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MET. Vanguard Group Inc. increased its holdings in shares of MetLife by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 59,622,348 shares of the financial services provider’s stock worth $4,418,612,000 after acquiring an additional 1,974,268 shares during the last quarter. Swedbank AB acquired a new position in MetLife in the 1st quarter valued at $131,456,000. Acadian Asset Management LLC grew its holdings in MetLife by 7,837.0% in the 2nd quarter. Acadian Asset Management LLC now owns 1,129,353 shares of the financial services provider’s stock valued at $79,250,000 after buying an additional 1,115,124 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in MetLife by 22.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,396,274 shares of the financial services provider’s stock valued at $378,799,000 after buying an additional 988,666 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in MetLife by 29.7% in the 1st quarter. Bessemer Group Inc. now owns 2,120,275 shares of the financial services provider’s stock valued at $157,133,000 after buying an additional 485,811 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

MetLife Price Performance

Shares of MET stock opened at $82.86 on Wednesday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.56. MetLife, Inc. has a twelve month low of $58.48 and a twelve month high of $86.94. The company has a market cap of $58.03 billion, a P/E ratio of 22.33, a P/E/G ratio of 0.70 and a beta of 1.04. The business has a fifty day simple moving average of $80.21 and a 200 day simple moving average of $74.69.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.15. MetLife had a return on equity of 21.41% and a net margin of 4.23%. The business had revenue of $17.82 billion during the quarter, compared to the consensus estimate of $18.57 billion. During the same period in the prior year, the company earned $1.94 EPS. MetLife’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, sell-side analysts forecast that MetLife, Inc. will post 8.58 EPS for the current fiscal year.

MetLife Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, November 5th will be given a dividend of $0.545 per share. The ex-dividend date is Tuesday, November 5th. This represents a $2.18 annualized dividend and a dividend yield of 2.63%. MetLife’s dividend payout ratio is currently 58.76%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MET. Keefe, Bruyette & Woods decreased their price objective on MetLife from $86.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. TD Cowen began coverage on MetLife in a report on Wednesday, October 9th. They issued a “buy” rating and a $97.00 price objective on the stock. Citigroup upped their price objective on MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Wells Fargo & Company upped their price objective on MetLife from $86.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Piper Sandler increased their target price on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $88.46.

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.