SteelPeak Wealth LLC Acquires 9,791 Shares of MetLife, Inc. $MET

SteelPeak Wealth LLC boosted its stake in shares of MetLife, Inc. (NYSE:MET) by 30.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 42,366 shares of the financial services provider’s stock after buying an additional 9,791 shares during the period. SteelPeak Wealth LLC’s holdings in MetLife were worth $3,490,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in shares of MetLife by 9.0% in the 4th quarter. Brighton Jones LLC now owns 4,240 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 351 shares during the period. AlphaQuest LLC raised its position in MetLife by 569.9% in the 1st quarter. AlphaQuest LLC now owns 891 shares of the financial services provider’s stock valued at $72,000 after buying an additional 758 shares during the last quarter. Focus Partners Advisor Solutions LLC bought a new stake in MetLife in the 1st quarter valued at approximately $724,000. AQR Capital Management LLC boosted its stake in shares of MetLife by 85.0% during the 1st quarter. AQR Capital Management LLC now owns 1,321,881 shares of the financial services provider’s stock worth $104,270,000 after buying an additional 607,333 shares during the last quarter. Finally, Banque Transatlantique SA bought a new stake in shares of MetLife during the 1st quarter worth approximately $130,000. Institutional investors own 94.99% of the company’s stock.

MetLife Stock Performance

Shares of NYSE:MET opened at $78.98 on Friday. MetLife, Inc. has a 12-month low of $65.21 and a 12-month high of $88.09. The company’s 50 day moving average price is $78.63 and its two-hundred day moving average price is $78.96. The firm has a market cap of $52.04 billion, a PE ratio of 14.87, a PEG ratio of 0.76 and a beta of 0.76. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.54.

MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.07. MetLife had a return on equity of 21.00% and a net margin of 5.30%.The business had revenue of $12.46 billion during the quarter, compared to analysts’ expectations of $18.64 billion. During the same period in the previous year, the company posted $1.95 earnings per share. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. Equities research analysts predict that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 4th were issued a $0.5675 dividend. This represents a $2.27 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, November 4th. MetLife’s dividend payout ratio (DPR) is currently 42.75%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley set a $101.00 price target on MetLife and gave the stock an “overweight” rating in a report on Monday, December 15th. Barclays upped their price objective on shares of MetLife from $93.00 to $98.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Keefe, Bruyette & Woods reduced their target price on shares of MetLife from $92.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, November 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of MetLife in a report on Monday. Finally, Wolfe Research upgraded MetLife to a “strong-buy” rating in a report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $95.73.

MetLife Profile

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.