Turtle Creek Wealth Advisors LLC Purchases New Holdings in MetLife, Inc. $MET

Turtle Creek Wealth Advisors LLC acquired a new position in MetLife, Inc. (NYSE:MET) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,268 shares of the financial services provider’s stock, valued at approximately $681,000.

Several other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in shares of MetLife by 3.6% during the 3rd quarter. Blue Trust Inc. now owns 3,585 shares of the financial services provider’s stock worth $295,000 after acquiring an additional 125 shares during the last quarter. Daymark Wealth Partners LLC increased its stake in MetLife by 4.2% in the third quarter. Daymark Wealth Partners LLC now owns 3,192 shares of the financial services provider’s stock worth $263,000 after purchasing an additional 130 shares during the period. Ignite Planners LLC lifted its position in shares of MetLife by 2.2% during the second quarter. Ignite Planners LLC now owns 6,366 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 136 shares during the last quarter. Legacy Capital Wealth Partners LLC boosted its stake in shares of MetLife by 3.2% during the second quarter. Legacy Capital Wealth Partners LLC now owns 4,355 shares of the financial services provider’s stock valued at $350,000 after purchasing an additional 137 shares during the period. Finally, Abound Wealth Management grew its holdings in shares of MetLife by 29.9% in the third quarter. Abound Wealth Management now owns 635 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 146 shares during the last quarter. Institutional investors own 94.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MET. Wells Fargo & Company lifted their price objective on shares of MetLife from $94.00 to $97.00 and gave the company an “overweight” rating in a report on Tuesday, January 13th. Evercore ISI set a $97.00 price target on shares of MetLife and gave the company an “in-line” rating in a research note on Tuesday, January 6th. Morgan Stanley set a $101.00 price objective on MetLife and gave the stock an “overweight” rating in a research note on Monday, December 15th. Mizuho set a $102.00 target price on MetLife in a research report on Wednesday, January 14th. Finally, UBS Group lowered their target price on MetLife from $95.00 to $94.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $95.42.

MetLife Stock Performance

Shares of MET stock opened at $75.54 on Wednesday. The firm has a market cap of $49.77 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 0.70 and a beta of 0.76. MetLife, Inc. has a 52-week low of $65.21 and a 52-week high of $88.09. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.54. The company’s 50 day moving average is $78.69 and its 200 day moving average is $78.88.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, November 5th. The financial services provider reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.07. MetLife had a return on equity of 21.00% and a net margin of 5.30%.The company had revenue of $12.46 billion during the quarter, compared to analyst estimates of $18.64 billion. During the same quarter in the prior year, the business earned $1.95 earnings per share. MetLife’s revenue was down 5.9% on a year-over-year basis. On average, sell-side analysts anticipate that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 3rd will be given a dividend of $0.5675 per share. The ex-dividend date of this dividend is Tuesday, February 3rd. This represents a $2.27 dividend on an annualized basis and a yield of 3.0%. MetLife’s dividend payout ratio (DPR) is presently 42.75%.

MetLife Company Profile

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.