Argyle Capital Management Inc. Has $2.80 Million Stake in MetLife, Inc. (NYSE:MET)

Argyle Capital Management Inc. lessened its holdings in MetLife, Inc. (NYSE:MET) by 4.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,000 shares of the financial services provider’s stock after selling 1,575 shares during the period. Argyle Capital Management Inc.’s holdings in MetLife were worth $2,804,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Wolff Wiese Magana LLC raised its position in shares of MetLife by 374.3% in the third quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 277 shares during the period. Fortitude Family Office LLC raised its holdings in MetLife by 177.3% in the 3rd quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 266 shares during the period. Bank & Trust Co acquired a new stake in MetLife during the second quarter worth approximately $39,000. Crewe Advisors LLC boosted its holdings in shares of MetLife by 602.5% during the second quarter. Crewe Advisors LLC now owns 562 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 482 shares during the period. Finally, Larson Financial Group LLC grew its position in shares of MetLife by 72.6% in the second quarter. Larson Financial Group LLC now owns 568 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 239 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MET shares. TD Cowen began coverage on MetLife in a report on Wednesday, October 9th. They set a “buy” rating and a $97.00 price target for the company. Bank of America dropped their target price on MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Piper Sandler upped their price target on shares of MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company lifted their price objective on shares of MetLife from $86.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Barclays started coverage on shares of MetLife in a research report on Wednesday, September 4th. They set an “overweight” rating and a $91.00 target price on the stock. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $88.46.

MetLife Price Performance

NYSE:MET traded up $0.17 during mid-day trading on Tuesday, reaching $83.26. The stock had a trading volume of 342,221 shares, compared to its average volume of 3,276,847. The stock has a 50-day simple moving average of $80.00 and a two-hundred day simple moving average of $74.60. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.16 and a quick ratio of 0.16. MetLife, Inc. has a 12 month low of $58.48 and a 12 month high of $86.94. The stock has a market capitalization of $59.21 billion, a PE ratio of 28.55, a P/E/G ratio of 0.70 and a beta of 1.04.

MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share (EPS) for the quarter, beating 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 company had revenue of $17.82 billion for the quarter, compared to analyst estimates of $18.57 billion. During the same quarter last year, the company posted $1.94 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts anticipate that MetLife, Inc. will post 8.58 earnings per share for the current year.

MetLife Announces Dividend

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 issued a $0.545 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.62%. MetLife’s dividend payout ratio (DPR) is currently 74.91%.

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.