Assetmark Inc. Decreases Stock Holdings in MetLife, Inc. $MET

Assetmark Inc. trimmed its position in MetLife, Inc. (NYSE:MET) by 4.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,243 shares of the financial services provider’s stock after selling 867 shares during the quarter. Assetmark Inc.’s holdings in MetLife were worth $1,467,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in MetLife by 9.0% in the 4th quarter. Brighton Jones LLC now owns 4,240 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 351 shares in the last quarter. OneDigital Investment Advisors LLC boosted its stake in MetLife by 28.3% in the 1st quarter. OneDigital Investment Advisors LLC now owns 9,887 shares of the financial services provider’s stock worth $794,000 after purchasing an additional 2,179 shares during the period. World Investment Advisors boosted its position in shares of MetLife by 21.1% during the 1st quarter. World Investment Advisors now owns 7,189 shares of the financial services provider’s stock valued at $577,000 after acquiring an additional 1,251 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in MetLife by 3.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,006,779 shares of the financial services provider’s stock valued at $241,414,000 after buying an additional 105,376 shares during the period. Finally, Callan Capital LLC bought a new stake in shares of MetLife during the first quarter worth $211,000. Institutional investors own 94.99% of the company’s stock.

Analyst Ratings Changes

MET has been the topic of a number of recent research reports. Cowen reiterated a “buy” rating on shares of MetLife in a research report on Friday, August 22nd. UBS Group cut their price objective on MetLife from $94.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Wells Fargo & Company boosted their price objective on MetLife from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Morgan Stanley lifted their price target on shares of MetLife from $94.00 to $97.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Finally, Wolfe Research raised MetLife to a “strong-buy” rating in a report on Tuesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.18.

MetLife Stock Performance

Shares of NYSE MET opened at $78.81 on Thursday. MetLife, Inc. has a 52-week low of $65.21 and a 52-week high of $89.05. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $52.41 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 0.70 and a beta of 0.86. The stock’s fifty day simple moving average is $80.24 and its 200 day simple moving average is $78.77.

MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.04. The company had revenue of $17.36 billion during the quarter, compared to analysts’ expectations of $18.64 billion. MetLife had a return on equity of 19.88% and a net margin of 5.83%.The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.95 earnings per share. As a group, sell-side analysts forecast that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.

MetLife Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 4th will be paid a $0.5675 dividend. This represents a $2.27 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Tuesday, November 4th. MetLife’s dividend payout ratio is currently 38.47%.

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.