CreativeOne Wealth LLC Grows Position in MetLife, Inc. $MET

CreativeOne Wealth LLC boosted its stake in MetLife, Inc. (NYSE:MET) by 8.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,551 shares of the financial services provider’s stock after buying an additional 888 shares during the period. CreativeOne Wealth LLC’s holdings in MetLife were worth $929,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Allworth Financial LP boosted its position in shares of MetLife by 13.4% during the second quarter. Allworth Financial LP now owns 10,893 shares of the financial services provider’s stock worth $876,000 after buying an additional 1,285 shares during the period. Kathmere Capital Management LLC lifted its stake in MetLife by 88.2% during the 2nd quarter. Kathmere Capital Management LLC now owns 6,328 shares of the financial services provider’s stock worth $509,000 after acquiring an additional 2,965 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new position in MetLife during the 1st quarter valued at about $12,060,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in MetLife by 13.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,050,921 shares of the financial services provider’s stock valued at $84,378,000 after acquiring an additional 123,947 shares in the last quarter. Finally, McElhenny Sheffield Capital Management LLC purchased a new stake in MetLife during the second quarter worth about $1,608,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.

MetLife Price Performance

Shares of MET opened at $76.33 on Friday. The firm has a market capitalization of $50.29 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 0.70 and a beta of 0.87. The firm’s fifty day simple moving average is $79.06 and its 200-day simple moving average is $78.83. MetLife, Inc. has a twelve month low of $65.21 and a twelve month high of $89.05. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.57.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, November 5th. The financial services provider reported $2.37 EPS for the quarter, beating the consensus estimate of $2.30 by $0.07. The firm had revenue of $12.46 billion for the quarter, compared to analyst estimates of $18.64 billion. MetLife had a return on equity of 19.88% and a net margin of 5.83%.MetLife’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.95 earnings per share. Equities analysts forecast that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 4th will be given a dividend of $0.5675 per share. This represents a $2.27 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, November 4th. MetLife’s dividend payout ratio (DPR) is 42.75%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MET shares. UBS Group lowered their price objective on shares of MetLife from $96.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Morgan Stanley increased their target price on shares of MetLife from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday, October 7th. Jefferies Financial Group boosted their price target on shares of MetLife from $100.00 to $103.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Barclays upped their price objective on MetLife from $93.00 to $98.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Finally, Wolfe Research upgraded MetLife to a “strong-buy” rating in a report on Tuesday, September 16th. One analyst has 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $94.60.

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.