Ameriprise Financial Inc. lessened its holdings in MetLife, Inc. (NYSE:MET) by 10.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,431,172 shares of the financial services provider’s stock after selling 1,149,590 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.89% of MetLife worth $488,971,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the business. BlackRock Inc. lifted its position in MetLife by 3,323.3% in the first quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock valued at $3,616,895,000 after purchasing an additional 66,475,603 shares during the period. Epoch Investment Partners Inc. acquired a new stake in shares of MetLife during the 2nd quarter valued at approximately $183,290,000. TD Asset Management Inc. increased its stake in shares of MetLife by 47.7% during the 2nd quarter. TD Asset Management Inc. now owns 5,201,238 shares of the financial services provider’s stock worth $285,756,000 after purchasing an additional 1,679,740 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of MetLife during the 1st quarter worth approximately $82,954,000. Finally, Prudential Financial Inc. increased its stake in shares of MetLife by 71.4% during the 2nd quarter. Prudential Financial Inc. now owns 3,672,729 shares of the financial services provider’s stock worth $201,778,000 after purchasing an additional 1,529,570 shares in the last quarter. 76.37% of the stock is currently owned by institutional investors.
MET has been the subject of several recent analyst reports. Argus reduced their target price on shares of MetLife from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. BidaskClub upgraded shares of MetLife from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Zacks Investment Research lowered shares of MetLife from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. ValuEngine upgraded shares of MetLife from a “buy” rating to a “strong-buy” rating in a report on Friday, August 11th. Finally, Barclays dropped their target price on shares of MetLife from $67.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, August 11th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $58.40.
MetLife, Inc. (NYSE:MET) traded up $0.62 during trading on Thursday, reaching $53.62. 3,808,895 shares of the company’s stock traded hands, compared to its average volume of 5,720,350. The firm has a market cap of $56,550.00, a price-to-earnings ratio of 10.20, a PEG ratio of 1.33 and a beta of 1.49. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.31. MetLife, Inc. has a 1 year low of $44.26 and a 1 year high of $55.91.
MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.19. The company had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.47 billion. MetLife had a negative net margin of 0.75% and a positive return on equity of 8.81%. MetLife’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.28 EPS. research analysts expect that MetLife, Inc. will post 4.43 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Monday, November 6th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, November 3rd. MetLife’s dividend payout ratio is currently 347.83%.
In other news, insider Christopher G. Townsend sold 55,712 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were 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 directly 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 hyperlink. Also, insider Christopher G. Townsend sold 82,731 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $54.60, for a total transaction of $4,517,112.60. Following the transaction, 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 currently owned by corporate insiders.
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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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