Boston Advisors LLC lessened its position in shares of MetLife, Inc. (NYSE:MET) by 0.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 301,398 shares of the financial services provider’s stock after selling 1,913 shares during the quarter. Boston Advisors LLC’s holdings in MetLife were worth $15,658,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. raised its position in MetLife by 0.7% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,505 shares of the financial services provider’s stock valued at $302,000 after purchasing an additional 38 shares during the period. Forward Management LLC raised its position in MetLife by 0.4% in the second quarter. Forward Management LLC now owns 9,661 shares of the financial services provider’s stock valued at $531,000 after purchasing an additional 41 shares during the period. Aspen Investment Management Inc raised its position in MetLife by 0.7% in the second quarter. Aspen Investment Management Inc now owns 7,178 shares of the financial services provider’s stock valued at $394,000 after purchasing an additional 50 shares during the period. Atria Investments LLC raised its position in MetLife by 0.4% in the second quarter. Atria Investments LLC now owns 18,986 shares of the financial services provider’s stock valued at $1,043,000 after purchasing an additional 72 shares during the period. Finally, Apriem Advisors raised its position in MetLife by 0.6% in the second quarter. Apriem Advisors now owns 13,060 shares of the financial services provider’s stock valued at $718,000 after purchasing an additional 74 shares during the period. 73.79% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MetLife, Inc. (MET) traded down $0.61 during mid-day trading on Friday, hitting $52.20. 4,853,100 shares of the company were exchanged, compared to its average volume of 5,886,190. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $55,571.91, a P/E ratio of 10.16, a P/E/G ratio of 1.33 and a beta of 1.51. MetLife, Inc. has a 12-month low of $44.26 and a 12-month high of $55.91.
MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.19. MetLife had a negative net margin of 0.75% and a positive return on equity of 8.81%. The firm had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.47 billion. During the same period in the previous year, the company earned $1.28 earnings per share. MetLife’s quarterly revenue was up 1.7% compared to the same quarter last year. equities analysts expect that MetLife, Inc. will post 4.43 earnings per share for the current fiscal year.
MetLife announced that its Board of Directors has approved a share repurchase plan on Wednesday, November 1st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Monday, November 6th will be given a $0.40 dividend. The ex-dividend date is Friday, November 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.07%. MetLife’s dividend payout ratio (DPR) is presently -320.00%.
A number of analysts have issued reports on the company. Sandler O’Neill lowered MetLife from a “buy” rating to a “hold” rating in a research report on Friday. ValuEngine lowered MetLife from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research raised MetLife from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Thursday. B. Riley reissued a “neutral” rating on shares of MetLife in a research report on Monday, November 6th. Finally, Argus boosted their target price on MetLife from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $58.40.
In related news, insider Christopher G. Townsend sold 55,712 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 25,181 shares of the company’s stock, valued at $1,367,076.49. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Christopher G. Townsend sold 82,731 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $54.60, for a total transaction of $4,517,112.60. Following the completion of the sale, the insider now directly owns 49,660 shares of the company’s stock, valued at $2,711,436. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.
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MetLife Company Profile
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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