American International Group Inc. lessened its stake in shares of Metlife Inc (NYSE:MET) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,935 shares of the financial services provider’s stock after selling 9,591 shares during the quarter. American International Group Inc.’s holdings in Metlife were worth $12,790,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd lifted its position in Metlife by 56.3% in the 3rd quarter. IFM Investors Pty Ltd now owns 88,404 shares of the financial services provider’s stock valued at $4,169,000 after acquiring an additional 31,851 shares in the last quarter. 180 Wealth Advisors LLC lifted its position in Metlife by 28.9% in the 3rd quarter. 180 Wealth Advisors LLC now owns 11,434 shares of the financial services provider’s stock valued at $524,000 after acquiring an additional 2,566 shares in the last quarter. Stifel Financial Corp lifted its position in Metlife by 8.0% in the 3rd quarter. Stifel Financial Corp now owns 1,185,639 shares of the financial services provider’s stock valued at $55,897,000 after acquiring an additional 87,476 shares in the last quarter. Bank of Hawaii bought a new position in Metlife in the 3rd quarter valued at about $365,000. Finally, Diversified Trust Co bought a new position in Metlife in the 4th quarter valued at about $921,000. 74.45% of the stock is currently owned by institutional investors.
NYSE:MET opened at $52.47 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.15 and a current ratio of 0.14. The firm has a market cap of $47.71 billion, a price-to-earnings ratio of 8.67, a price-to-earnings-growth ratio of 1.19 and a beta of 1.07. Metlife Inc has a 52 week low of $41.41 and a 52 week high of $53.28. The firm has a 50-day moving average price of $51.39 and a two-hundred day moving average price of $48.48.
Metlife (NYSE:MET) last posted its quarterly earnings data on Wednesday, February 5th. The financial services provider reported $1.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.58. The firm had revenue of $18.15 billion during the quarter, compared to analyst estimates of $16.82 billion. Metlife had a net margin of 8.39% and a return on equity of 9.14%. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter last year, the business posted $1.35 EPS. As a group, sell-side analysts forecast that Metlife Inc will post 6.1 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, February 4th will be paid a $0.44 dividend. The ex-dividend date is Monday, February 3rd. This represents a $1.76 annualized dividend and a yield of 3.35%. Metlife’s dividend payout ratio (DPR) is 28.81%.
Several brokerages recently weighed in on MET. Wells Fargo & Co reaffirmed a “buy” rating on shares of Metlife in a research report on Monday, January 6th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $57.00 price target on shares of Metlife in a research report on Sunday. Morgan Stanley raised shares of Metlife from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $55.00 to $60.00 in a research report on Tuesday, January 7th. Zacks Investment Research raised shares of Metlife from a “sell” rating to a “hold” rating and set a $52.00 price target on the stock in a research report on Monday, December 9th. Finally, Credit Suisse Group dropped their price target on shares of Metlife from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $52.60.
In other Metlife news, EVP Steven J. Goulart sold 14,200 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $51.60, for a total value of $732,720.00. Following the completion of the sale, the executive vice president now owns 127,130 shares in the company, valued at approximately $6,559,908. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.31% of the company’s stock.
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.
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