BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in shares of MetLife, Inc. (NYSE:MET) by 0.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 336,787 shares of the financial services provider’s stock after selling 2,852 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in MetLife were worth $17,496,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. Farmers National Bank acquired a new position in shares of MetLife during the second quarter worth approximately $118,000. Ffcm LLC lifted its holdings in shares of MetLife by 2,020.8% during the third quarter. Ffcm LLC now owns 2,248 shares of the financial services provider’s stock worth $119,000 after buying an additional 2,142 shares during the last quarter. Cable Hill Partners LLC raised its stake 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 valued at $125,000 after purchasing an additional 1,716 shares in the last quarter. First Mercantile Trust Co. grew its position in MetLife by 3.4% in the second quarter. First Mercantile Trust Co. now owns 2,926 shares of the financial services provider’s stock valued at $161,000 after acquiring an additional 97 shares during the period. Finally, Parallel Advisors LLC grew its position in MetLife by 8.1% in the second quarter. Parallel Advisors LLC now owns 2,970 shares of the financial services provider’s stock valued at $163,000 after acquiring an additional 222 shares during the period. 76.37% of the stock is owned by hedge funds and other institutional investors.
MET has been the topic of a number of analyst reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $56.00 price target on shares of MetLife in a research report on Wednesday, September 6th. UBS restated a “neutral” rating and set a $49.00 target price (down previously from $57.00) on shares of MetLife in a report on Friday, September 1st. ValuEngine cut MetLife from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 26th. Zacks Investment Research upgraded MetLife from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Thursday, November 9th. Finally, Sandler O’Neill cut MetLife from a “buy” rating to a “hold” rating in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $58.40.
In other news, insider Christopher G. Townsend sold 55,712 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $54.29, for a total transaction of $3,024,604.48. Following the completion of the transaction, the insider now owns 25,181 shares of the company’s stock, valued at approximately $1,367,076.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher G. Townsend sold 82,731 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 49,660 shares of the company’s stock, valued at approximately $2,711,436. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.
MetLife, Inc. (NYSE MET) traded down $0.02 during trading hours on Friday, reaching $53.60. The company had a trading volume of 414,630 shares, compared to its average volume of 5,720,350. The firm has a market cap of $55,771.84, a PE ratio of 10.19, a P/E/G ratio of 1.33 and a beta of 1.49. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.16. MetLife, Inc. has a 1-year low of $44.26 and a 1-year high of $55.91.
MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.19. The business had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.47 billion. MetLife had a positive return on equity of 8.81% and a negative net margin of 0.75%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the firm posted $1.28 EPS. equities research analysts predict that MetLife, Inc. will post 4.43 earnings per share for the current fiscal year.
The business 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. The ex-dividend date is Friday, November 3rd. This represents a $1.60 annualized dividend and a yield of 2.99%. MetLife’s dividend payout ratio is presently -320.00%.
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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