BTC Capital Management Inc. increased its stake in shares of MetLife, Inc. (NYSE:MET) by 1.8% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 62,403 shares of the financial services provider’s stock after purchasing an additional 1,128 shares during the period. BTC Capital Management Inc.’s holdings in MetLife were worth $3,241,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Prudential Financial Inc. increased its stake in MetLife by 71.4% in the 2nd quarter. Prudential Financial Inc. now owns 3,672,729 shares of the financial services provider’s stock worth $201,778,000 after acquiring an additional 1,529,570 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in MetLife by 5.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,555,656 shares of the financial services provider’s stock worth $195,348,000 after acquiring an additional 175,311 shares during the last quarter. PGGM Investments increased its stake in MetLife by 2.3% in the 3rd quarter. PGGM Investments now owns 576,944 shares of the financial services provider’s stock worth $29,972,000 after acquiring an additional 12,978 shares during the last quarter. KBC Group NV increased its stake in MetLife by 14.3% in the 2nd quarter. KBC Group NV now owns 1,263,802 shares of the financial services provider’s stock worth $69,433,000 after acquiring an additional 157,734 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its stake in MetLife by 7.2% in the 1st quarter. Teacher Retirement System of Texas now owns 822,785 shares of the financial services provider’s stock worth $43,460,000 after acquiring an additional 55,508 shares during the last quarter. 74.00% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on MET shares. Royal Bank Of Canada restated an “outperform” rating and issued a $60.00 target price (up from $56.00) on shares of MetLife in a research note on Friday, November 3rd. Credit Suisse Group restated a “neutral” rating and issued a $53.00 target price (down from $64.00) on shares of MetLife in a research note on Monday, August 28th. Morgan Stanley upped their target price on MetLife from $54.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 5th. Sandler O’Neill lowered MetLife from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Argus decreased their target price on MetLife from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. MetLife has a consensus rating of “Buy” and a consensus target price of $58.40.
In other MetLife news, insider Christopher G. Townsend sold 55,712 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $54.29, for a total value of $3,024,604.48. Following the completion of the sale, the insider now owns 25,181 shares in the company, valued at approximately $1,367,076.49. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Christopher G. Townsend sold 82,731 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $54.60, for a total value of $4,517,112.60. Following the completion of the sale, the insider now owns 49,660 shares of the company’s stock, valued at approximately $2,711,436. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.
MetLife, Inc. (MET) traded down $0.61 on Monday, reaching $52.20. The company had a trading volume of 4,853,100 shares, compared to its average volume of 5,886,190. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.31. MetLife, Inc. has a fifty-two week low of $44.26 and a fifty-two week high of $55.91. The company has a market cap of $55,070.00, a price-to-earnings ratio of 10.04, a price-to-earnings-growth ratio of 1.31 and a beta of 1.51.
MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.19. MetLife had a return on equity of 5.60% and a net margin of 5.54%. The business had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.47 billion. During the same period last year, the company earned $1.28 EPS. MetLife’s revenue for the quarter was up 1.7% compared to the same quarter last year. equities research analysts anticipate that MetLife, Inc. will post 4.43 EPS for the current fiscal year.
MetLife announced that its board has authorized a stock repurchase program on Wednesday, November 1st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Monday, November 6th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Friday, November 3rd. MetLife’s dividend payout ratio (DPR) is currently 347.83%.
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MetLife Company Profile
MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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