Cornerstone Investment Partners LLC raised its stake in shares of MetLife, Inc. (NYSE:MET) by 10.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,381 shares of the financial services provider’s stock after purchasing an additional 2,015 shares during the period. Cornerstone Investment Partners LLC’s holdings in MetLife were worth $1,111,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Farmers National Bank acquired a new stake in MetLife in the second quarter valued at $118,000. Cable Hill Partners LLC boosted its holdings in shares of MetLife by 246.6% in the third quarter. Cable Hill Partners LLC now owns 2,412 shares of the financial services provider’s stock worth $125,000 after buying an additional 1,716 shares during the period. Parallel Advisors LLC boosted its holdings in shares of MetLife by 50.7% in the first quarter. Parallel Advisors LLC now owns 2,748 shares of the financial services provider’s stock worth $143,000 after buying an additional 924 shares during the period. First Mercantile Trust Co. grew its holdings in MetLife by 3.4% during the second quarter. First Mercantile Trust Co. now owns 2,926 shares of the financial services provider’s stock valued at $161,000 after purchasing an additional 97 shares during the last quarter. Finally, Carroll Financial Associates Inc. grew its holdings in MetLife by 5.8% during the second quarter. Carroll Financial Associates Inc. now owns 3,013 shares of the financial services provider’s stock valued at $165,000 after purchasing an additional 166 shares during the last quarter. Institutional investors own 75.85% of the company’s stock.
MetLife, Inc. (MET) traded up $0.32 during trading on Tuesday, reaching $51.97. The company’s stock had a trading volume of 3,538,700 shares, compared to its average volume of 5,814,891. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $54,351.24, a P/E ratio of 9.93, a PEG ratio of 1.30 and a beta of 1.51. MetLife, Inc. has a 1 year low of $44.26 and a 1 year high of $55.91.
MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.19. MetLife had a positive return on equity of 8.81% and a negative net margin of 0.75%. The company had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.47 billion. During the same period last year, the company earned $1.28 earnings per share. The firm’s revenue was up 1.7% compared to the same quarter last year. equities research analysts forecast that MetLife, Inc. will post 4.43 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Monday, November 6th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.08%. MetLife’s dividend payout ratio (DPR) is -320.00%.
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Several equities research analysts have recently issued reports on the stock. Langen Mcalenn restated a “buy” rating on shares of MetLife in a research note on Wednesday, August 16th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $59.00 price target on shares of MetLife in a research note on Thursday, August 3rd. ValuEngine raised MetLife from a “buy” rating to a “strong-buy” rating in a report on Friday, August 11th. Zacks Investment Research cut MetLife from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Finally, BidaskClub raised MetLife from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $58.40.
In related news, insider Christopher G. Townsend sold 82,731 shares of MetLife stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $54.60, for a total transaction of $4,517,112.60. Following the transaction, the insider now owns 49,660 shares of the company’s stock, valued at $2,711,436. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher G. Townsend sold 55,712 shares of MetLife stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $54.29, for a total value of $3,024,604.48. Following the transaction, the insider now directly owns 25,181 shares in the company, valued at approximately $1,367,076.49. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.
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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