Exchange Traded Concepts LLC Decreases Stake in MetLife, Inc. (NYSE:MET)

Exchange Traded Concepts LLC decreased its stake in MetLife, Inc. (NYSE:MET - Free Report) by 97.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,181 shares of the financial services provider's stock after selling 116,972 shares during the quarter. Exchange Traded Concepts LLC's holdings in MetLife were worth $262,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Abacus Planning Group Inc. raised its stake in MetLife by 1.0% in the 3rd quarter. Abacus Planning Group Inc. now owns 12,301 shares of the financial services provider's stock valued at $1,015,000 after acquiring an additional 127 shares during the period. Forum Financial Management LP boosted its position in MetLife by 1.0% during the 2nd quarter. Forum Financial Management LP now owns 13,729 shares of the financial services provider's stock worth $964,000 after buying an additional 141 shares during the period. Drive Wealth Management LLC increased its stake in shares of MetLife by 3.5% in the second quarter. Drive Wealth Management LLC now owns 4,217 shares of the financial services provider's stock valued at $296,000 after buying an additional 141 shares during the period. Hills Bank & Trust Co lifted its position in shares of MetLife by 8.3% in the 2nd quarter. Hills Bank & Trust Co now owns 1,855 shares of the financial services provider's stock worth $130,000 after purchasing an additional 142 shares during the period. Finally, CNB Bank boosted its position in MetLife by 9.3% during the first quarter. CNB Bank now owns 1,735 shares of the financial services provider's stock valued at $129,000 after acquiring an additional 147 shares during the last quarter. Institutional investors own 89.81% of the company's stock.

MetLife Stock Performance

MET stock traded down $0.48 on Monday, hitting $84.84. The company had a trading volume of 2,002,001 shares, compared to its average volume of 3,317,408. The stock's 50-day simple moving average is $78.82 and its 200 day simple moving average is $74.21. The stock has a market cap of $60.33 billion, a price-to-earnings ratio of 29.15, a P/E/G ratio of 0.69 and a beta of 1.04. MetLife, Inc. has a 12-month low of $57.91 and a 12-month high of $86.94. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.56.

MetLife (NYSE:MET - Get Free Report) last released its earnings results on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.15. MetLife had a net margin of 4.23% and a return on equity of 21.41%. The company had revenue of $17.82 billion during the quarter, compared to analyst estimates of $18.57 billion. During the same period in the prior year, the firm posted $1.94 EPS. The firm's quarterly revenue was up 7.2% compared to the same quarter last year. As a group, equities research analysts expect that MetLife, Inc. will post 8.61 earnings per share for the current fiscal year.

MetLife Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Tuesday, November 5th. MetLife's dividend payout ratio is currently 74.91%.

Wall Street Analysts Forecast Growth

MET has been the topic of a number of research reports. Morgan Stanley dropped their price target on MetLife from $86.00 to $85.00 and set an "overweight" rating on the stock in a research note on Monday, August 19th. StockNews.com downgraded MetLife from a "buy" rating to a "hold" rating in a research note on Friday, October 4th. Keefe, Bruyette & Woods cut their target price on shares of MetLife from $86.00 to $85.00 and set an "outperform" rating for the company in a research report on Monday, July 8th. Piper Sandler lifted their price target on MetLife from $85.00 to $92.00 and gave the company an "overweight" rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. upped their price target on MetLife from $81.00 to $86.00 and gave the company an "overweight" rating in a research report on Tuesday, July 2nd. One 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, MetLife presently has a consensus 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.