Metlife Inc (MET) Holdings Reduced by Capital Management Associates NY

Capital Management Associates NY lowered its holdings in Metlife Inc (NYSE:MET) by 34.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,700 shares of the financial services provider’s stock after selling 4,500 shares during the quarter. Capital Management Associates NY’s holdings in Metlife were worth $406,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of the business. FMR LLC boosted its stake in Metlife by 9.2% in the second quarter. FMR LLC now owns 46,737,949 shares of the financial services provider’s stock worth $2,037,775,000 after purchasing an additional 3,921,155 shares in the last quarter. Pzena Investment Management LLC lifted its stake in shares of Metlife by 39.3% during the second quarter. Pzena Investment Management LLC now owns 8,314,788 shares of the financial services provider’s stock valued at $362,525,000 after acquiring an additional 2,346,866 shares during the period. Morgan Stanley lifted its stake in shares of Metlife by 12.3% during the second quarter. Morgan Stanley now owns 6,357,267 shares of the financial services provider’s stock valued at $277,177,000 after acquiring an additional 696,768 shares during the period. LSV Asset Management lifted its stake in shares of Metlife by 7.4% during the second quarter. LSV Asset Management now owns 4,098,468 shares of the financial services provider’s stock valued at $178,693,000 after acquiring an additional 283,900 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of Metlife by 0.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 3,844,484 shares of the financial services provider’s stock valued at $167,620,000 after acquiring an additional 29,491 shares during the period. 77.31% of the stock is currently owned by institutional investors.

NYSE:MET opened at $45.44 on Friday. Metlife Inc has a 1-year low of $39.31 and a 1-year high of $55.21. The company has a current ratio of 0.16, a quick ratio of 0.15 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $44.38 billion, a price-to-earnings ratio of 10.10, a P/E/G ratio of 0.67 and a beta of 1.30.

Metlife (NYSE:MET) last released its earnings results on Thursday, November 1st. The financial services provider reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.11. Metlife had a return on equity of 9.53% and a net margin of 7.62%. The firm had revenue of $16.40 billion for the quarter, compared to analyst estimates of $15.88 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. The company’s quarterly revenue was down 2.2% on a year-over-year basis. Research analysts anticipate that Metlife Inc will post 5.29 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Tuesday, November 6th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend is Monday, November 5th. Metlife’s payout ratio is 37.33%.

Metlife declared that its board has initiated a share buyback program on Thursday, November 1st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 4.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Several brokerages have recently issued reports on MET. Wells Fargo & Co set a $60.00 price target on Metlife and gave the company a “buy” rating in a research note on Friday, November 2nd. Zacks Investment Research lowered Metlife from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. UBS Group upped their price target on Metlife from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, October 8th. Credit Suisse Group cut their price target on Metlife from $67.00 to $63.00 and set an “outperform” rating on the stock in a research note on Friday, August 17th. Finally, Sandler O’Neill reissued a “hold” rating and issued a $50.00 target price on shares of Metlife in a research note on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $54.17.

In other Metlife news, Chairman Steven A. Kandarian sold 42,805 shares of the stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $47.03, for a total value of $2,013,119.15. Following the completion of the sale, the chairman now directly owns 559,097 shares in the company, valued at $26,294,331.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Steven A. Kandarian sold 85,683 shares of the stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $46.93, for a total value of $4,021,103.19. Following the completion of the sale, the chairman now owns 585,005 shares of the company’s stock, valued at $27,454,284.65. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

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Metlife Profile

MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; 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, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.

Further Reading: Return on Equity (ROE)

Institutional Ownership by Quarter for Metlife (NYSE:MET)

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