Allen Wealth Management LLC Trims Holdings in MetLife, Inc. (NYSE:MET)

Allen Wealth Management LLC reduced its holdings in shares of MetLife, Inc. (NYSE:MET) by 9.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,901 shares of the financial services provider’s stock after selling 498 shares during the period. Allen Wealth Management LLC’s holdings in MetLife were worth $404,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MET. Norden Group LLC grew its stake in shares of MetLife by 152.9% in the 1st quarter. Norden Group LLC now owns 8,115 shares of the financial services provider’s stock worth $601,000 after buying an additional 4,906 shares during the last quarter. J.W. Cole Advisors Inc. boosted its holdings in MetLife by 10.1% in the first quarter. J.W. Cole Advisors Inc. now owns 6,617 shares of the financial services provider’s stock worth $490,000 after acquiring an additional 608 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of MetLife by 0.4% in the first quarter. Private Advisor Group LLC now owns 93,650 shares of the financial services provider’s stock worth $6,940,000 after acquiring an additional 331 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in shares of MetLife in the 1st quarter worth about $676,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of MetLife by 4.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,540 shares of the financial services provider’s stock worth $10,564,000 after purchasing an additional 6,196 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

MET has been the subject of a number of analyst reports. Morgan Stanley reduced their price objective on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. Jefferies Financial Group boosted their price objective on shares of MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Bank of America cut their target price on MetLife from $99.00 to $96.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Citigroup upped their price target on MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, TD Cowen initiated coverage on MetLife in a research report on Wednesday, October 9th. They issued a “buy” rating and a $97.00 target price for the company. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.38.

MetLife Trading Up 0.0 %

MetLife stock opened at $78.43 on Friday. The business has a 50-day simple moving average of $80.59 and a two-hundred day simple moving average of $74.88. MetLife, Inc. has a 52-week low of $58.89 and a 52-week high of $86.94. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.49. The company has a market cap of $54.93 billion, a P/E ratio of 15.81, a P/E/G ratio of 0.66 and a beta of 1.05.

MetLife (NYSE:MET) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.15. The business had revenue of $17.82 billion during the quarter, compared to analysts’ expectations of $18.57 billion. MetLife had a net margin of 5.27% and a return on equity of 20.01%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.94 earnings per share. Analysts predict that MetLife, Inc. will post 8.47 EPS for the current year.

MetLife Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be paid a $0.545 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $2.18 annualized dividend and a dividend yield of 2.78%. MetLife’s dividend payout ratio (DPR) is 43.95%.

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.