Livingston Group Asset Management CO operating as Southport Capital Management Acquires New Position in Metlife Inc (MET)

Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in Metlife Inc (NYSE:MET) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,747 shares of the financial services provider’s stock, valued at approximately $202,000.

A number of other large investors have also added to or reduced their stakes in the business. Dana Investment Advisors Inc. acquired a new position in shares of Metlife in the fourth quarter valued at approximately $450,000. Prudential Financial Inc. grew its position in shares of Metlife by 13.6% in the fourth quarter. Prudential Financial Inc. now owns 5,202,203 shares of the financial services provider’s stock valued at $213,603,000 after purchasing an additional 620,879 shares during the last quarter. Sumitomo Life Insurance Co. grew its position in shares of Metlife by 2.5% in the fourth quarter. Sumitomo Life Insurance Co. now owns 36,468 shares of the financial services provider’s stock valued at $1,497,000 after purchasing an additional 880 shares during the last quarter. MML Investors Services LLC grew its position in shares of Metlife by 22.3% in the fourth quarter. MML Investors Services LLC now owns 69,961 shares of the financial services provider’s stock valued at $2,873,000 after purchasing an additional 12,779 shares during the last quarter. Finally, Premier Asset Management LLC acquired a new position in shares of Metlife in the fourth quarter valued at approximately $1,785,000. Hedge funds and other institutional investors own 76.88% of the company’s stock.

MET has been the topic of several research reports. Bank of America raised Metlife from a “neutral” rating to a “buy” rating and set a $44.06 target price on the stock in a research report on Wednesday, January 16th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Metlife in a research report on Tuesday, January 8th. Argus reaffirmed a “buy” rating on shares of Metlife in a research report on Tuesday, February 12th. UBS Group upped their target price on Metlife from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, April 9th. Finally, Sandler O’Neill downgraded Metlife from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $52.76.

In related news, EVP Steven J. Goulart sold 10,292 shares of the stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $44.40, for a total transaction of $456,964.80. Following the sale, the executive vice president now owns 93,214 shares of the company’s stock, valued at $4,138,701.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO John D. Mccallion sold 2,669 shares of the stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $44.43, for a total value of $118,583.67. Following the sale, the chief financial officer now directly owns 20,538 shares in the company, valued at approximately $912,503.34. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Shares of NYSE:MET opened at $45.81 on Thursday. The company has a market cap of $44.22 billion, a P/E ratio of 8.50, a P/E/G ratio of 0.98 and a beta of 1.18. Metlife Inc has a 1 year low of $37.76 and a 1 year high of $48.92. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.14 and a current ratio of 0.14.

Metlife (NYSE:MET) last issued its quarterly earnings results on Wednesday, February 6th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.05. The business had revenue of $15.40 billion for the quarter, compared to the consensus estimate of $15.84 billion. Metlife had a return on equity of 10.24% and a net margin of 7.53%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 earnings per share. On average, analysts anticipate that Metlife Inc will post 5.48 EPS for the current fiscal year.

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Metlife Company 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.

Read More: Earnings Per Share (EPS)

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Institutional Ownership by Quarter for Metlife (NYSE:MET)

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