MetLife, Inc. $MET Shares Sold by Drive Wealth Management LLC

Drive Wealth Management LLC decreased its holdings in MetLife, Inc. (NYSE:MET) by 5.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,942 shares of the financial services provider’s stock after selling 208 shares during the quarter. Drive Wealth Management LLC’s holdings in MetLife were worth $317,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Kathmere Capital Management LLC increased its holdings in shares of MetLife by 88.2% during the second quarter. Kathmere Capital Management LLC now owns 6,328 shares of the financial services provider’s stock valued at $509,000 after acquiring an additional 2,965 shares in the last quarter. First Horizon Advisors Inc. increased its stake in MetLife by 4.8% during the 1st quarter. First Horizon Advisors Inc. now owns 422,684 shares of the financial services provider’s stock valued at $33,937,000 after purchasing an additional 19,192 shares in the last quarter. Pinnacle Financial Partners Inc purchased a new position in shares of MetLife in the first quarter worth $255,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of MetLife by 20.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,785 shares of the financial services provider’s stock worth $4,735,000 after buying an additional 10,414 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp lifted its stake in shares of MetLife by 20.4% during the first quarter. CHURCHILL MANAGEMENT Corp now owns 108,920 shares of the financial services provider’s stock worth $8,745,000 after buying an additional 18,461 shares during the period. 94.99% of the stock is owned by institutional investors and hedge funds.

MetLife Stock Performance

Shares of NYSE MET opened at $78.78 on Tuesday. The company has a market capitalization of $52.39 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 0.71 and a beta of 0.86. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.16 and a current ratio of 0.16. The company’s fifty day moving average price is $80.27 and its 200 day moving average price is $78.17. MetLife, Inc. has a 1 year low of $65.21 and a 1 year high of $89.05.

MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.30). MetLife had a return on equity of 19.88% and a net margin of 5.83%.The firm had revenue of $17.34 billion during the quarter, compared to analyst estimates of $18.58 billion. During the same quarter last year, the company posted $2.28 EPS. The company’s revenue was down 2.7% on a year-over-year basis. On average, research analysts predict that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 4th will be 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 is Tuesday, November 4th. MetLife’s dividend payout ratio (DPR) is presently 38.47%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MET shares. Cowen reissued a “buy” rating on shares of MetLife in a research report on Friday, August 22nd. Jefferies Financial Group raised their price objective on MetLife from $100.00 to $103.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Keefe, Bruyette & Woods dropped their target price on MetLife from $94.00 to $92.00 and set an “outperform” rating on the stock in a research report on Monday, August 11th. Wells Fargo & Company raised their price target on shares of MetLife from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of MetLife in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.18.

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.