Schafer Cullen Capital Management Inc. trimmed its position in shares of MetLife (NYSE:MET) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,484,972 shares of the financial services provider’s stock after selling 115,135 shares during the quarter. MetLife accounts for 1.5% of Schafer Cullen Capital Management Inc.’s portfolio, making the stock its 24th largest position. Schafer Cullen Capital Management Inc. owned approximately 0.24% of MetLife worth $125,640,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cowen Prime Services LLC boosted its position in shares of MetLife by 16.0% during the third quarter. Cowen Prime Services LLC now owns 7,250 shares of the financial services provider’s stock worth $377,000 after purchasing an additional 1,000 shares in the last quarter. Investment Centers of America Inc. lifted its position in MetLife by 11.6% in the 3rd quarter. Investment Centers of America Inc. now owns 9,874 shares of the financial services provider’s stock valued at $511,000 after acquiring an additional 1,026 shares in the last quarter. Zions Bancorporation lifted its position in MetLife by 15.9% in the 3rd quarter. Zions Bancorporation now owns 7,599 shares of the financial services provider’s stock valued at $395,000 after acquiring an additional 1,045 shares in the last quarter. CLS Investments LLC lifted its position in MetLife by 18.7% in the 3rd quarter. CLS Investments LLC now owns 6,792 shares of the financial services provider’s stock valued at $353,000 after acquiring an additional 1,072 shares in the last quarter. Finally, Jolley Asset Management LLC lifted its position in MetLife by 1.4% in the 4th quarter. Jolley Asset Management LLC now owns 76,446 shares of the financial services provider’s stock valued at $3,865,000 after acquiring an additional 1,085 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.
Several equities research analysts recently commented on MET shares. Zacks Investment Research cut shares of MetLife from a “buy” rating to a “hold” rating in a research report on Monday, December 18th. UBS reaffirmed a “neutral” rating and issued a $51.00 price objective (down from $52.00) on shares of MetLife in a research report on Friday, March 2nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $56.00 price objective on shares of MetLife in a research report on Friday, February 23rd. Deutsche Bank started coverage on shares of MetLife in a research report on Tuesday, January 2nd. They issued a “hold” rating and a $55.00 price objective on the stock. Finally, Wells Fargo cut their price objective on shares of MetLife from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $57.90.
MetLife (NYSE:MET) traded up $0.26 during trading on Tuesday, hitting $47.35. 474,704 shares of the stock traded hands, compared to its average volume of 7,346,973. The firm has a market cap of $49,053.95, a price-to-earnings ratio of 13.86, a PEG ratio of 0.96 and a beta of 1.28. MetLife has a one year low of $43.38 and a one year high of $55.91. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.29.
MetLife (NYSE:MET) last released its quarterly earnings data on Tuesday, February 13th. The financial services provider reported $0.64 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.41). The firm had revenue of $15.79 billion for the quarter, compared to analyst estimates of $15.89 billion. MetLife had a return on equity of 8.59% and a net margin of 5.69%. During the same quarter in the prior year, the firm earned $1.28 earnings per share. sell-side analysts anticipate that MetLife will post 4.93 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 13th. Stockholders of record on Monday, February 5th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, February 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.38%. MetLife’s dividend payout ratio is presently 46.92%.
ILLEGAL ACTIVITY NOTICE: This report was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this report on another domain, it was illegally copied and reposted in violation of US & international copyright & trademark law. The correct version of this report can be accessed at https://ledgergazette.com/2018/03/20/metlife-met-stake-decreased-by-schafer-cullen-capital-management-inc.html.
MetLife, Inc, through its subsidiaries, 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.
Receive News & Ratings for MetLife Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MetLife and related companies with MarketBeat.com's FREE daily email newsletter.