Heritage Trust Co Cuts Stock Position in MetLife, Inc. (NYSE:MET)

Heritage Trust Co reduced its position in MetLife, Inc. (NYSE:MET) by 0.9% in the first quarter, Holdings Channel.com reports. The firm owned 33,665 shares of the financial services provider’s stock after selling 322 shares during the quarter. Heritage Trust Co’s holdings in MetLife were worth $2,046,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MET. Reby Advisors LLC purchased a new position in shares of MetLife in the 4th quarter worth about $26,000. SOA Wealth Advisors LLC. bought a new stake in shares of MetLife in the 4th quarter valued at about $26,000. Allred Capital Management LLC bought a new stake in shares of MetLife in the 1st quarter valued at about $28,000. Stuart Chaussee & Associates Inc. bought a new stake in shares of MetLife in the 1st quarter valued at about $28,000. Finally, Cordasco Financial Network bought a new stake in shares of MetLife in the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 75.46% of the company’s stock.

Shares of NYSE:MET traded up $0.22 during trading on Friday, hitting $64.11. The stock had a trading volume of 97,627 shares, compared to its average volume of 5,208,654. MetLife, Inc. has a 12 month low of $34.82 and a 12 month high of $67.68. The company has a market cap of $56.12 billion, a P/E ratio of 52.24, a PEG ratio of 1.91 and a beta of 1.33. The company has a fifty day moving average of $64.13. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.14 and a quick ratio of 0.14.

MetLife (NYSE:MET) last announced its earnings results on Wednesday, May 5th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.72. MetLife had a return on equity of 8.75% and a net margin of 2.05%. The firm had revenue of $16.71 billion during the quarter, compared to analyst estimates of $15.88 billion. During the same quarter in the prior year, the company earned $1.58 EPS. The business’s revenue was up 7.5% compared to the same quarter last year. As a group, equities analysts expect that MetLife, Inc. will post 7.13 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 14th. Investors of record on Tuesday, May 11th will be paid a $0.48 dividend. The ex-dividend date is Monday, May 10th. This represents a $1.92 annualized dividend and a dividend yield of 2.99%. This is an increase from MetLife’s previous quarterly dividend of $0.46. MetLife’s dividend payout ratio is presently 31.17%.

A number of equities research analysts have recently weighed in on the company. Morgan Stanley boosted their target price on MetLife from $70.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, May 6th. Royal Bank of Canada boosted their target price on MetLife from $66.00 to $74.00 and gave the company an “outperform” rating in a research note on Friday, May 7th. TheStreet lowered MetLife from a “b” rating to a “c+” rating in a research note on Monday, May 10th. UBS Group assumed coverage on MetLife in a research report on Monday, April 26th. They set a “buy” rating and a $72.00 price target for the company. Finally, Credit Suisse Group upped their price target on MetLife from $55.00 to $68.00 and gave the company an “outperform” rating in a research report on Thursday, May 13th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. MetLife has a consensus rating of “Buy” and an average target price of $62.00.

In related news, EVP Marlene Debel sold 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 11th. The stock was sold at an average price of $64.58, for a total value of $710,380.00. Following the sale, the executive vice president now owns 43,112 shares in the company, valued at approximately $2,784,172.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

About MetLife

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. 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 general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.

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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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