River Road Asset Management LLC lowered its position in shares of Metlife Inc (NYSE:MET) by 9.2% in the third quarter, Holdings Channel reports. The fund owned 443,505 shares of the financial services provider’s stock after selling 45,040 shares during the quarter. River Road Asset Management LLC’s holdings in Metlife were worth $20,721,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the business. Zacks Investment Management grew its position in shares of Metlife by 0.9% in the second quarter. Zacks Investment Management now owns 1,028,957 shares of the financial services provider’s stock valued at $44,863,000 after purchasing an additional 9,409 shares in the last quarter. Royal London Asset Management Ltd. purchased a new stake in shares of Metlife in the second quarter valued at approximately $21,849,000. Lau Associates LLC purchased a new stake in shares of Metlife in the third quarter valued at approximately $439,000. Cozad Asset Management Inc. purchased a new stake in shares of Metlife in the second quarter valued at approximately $245,000. Finally, Tiedemann Advisors LLC purchased a new stake in shares of Metlife in the second quarter valued at approximately $308,000. 77.31% of the stock is owned by institutional investors and hedge funds.
In other news, Chairman Steven A. Kandarian sold 42,805 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $47.03, for a total transaction of $2,013,119.15. Following the completion of the transaction, the chairman now directly owns 559,097 shares in the company, valued at $26,294,331.91. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Steven A. Kandarian sold 85,683 shares of the firm’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $46.93, for a total value of $4,021,103.19. Following the transaction, the chairman now owns 585,005 shares of the company’s stock, valued at $27,454,284.65. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. Wells Fargo & Co set a $60.00 price target on Metlife and gave the company a “buy” rating in a research report on Friday. Zacks Investment Research lowered Metlife from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. UBS Group upped their price target on Metlife from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, October 8th. Credit Suisse Group dropped their price target on Metlife from $67.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday, August 17th. Finally, Sandler O’Neill restated a “hold” rating and issued a $50.00 price target on shares of Metlife in a research report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $54.62.
Shares of Metlife stock opened at $43.60 on Monday. The company has a market capitalization of $43.37 billion, a P/E ratio of 9.69, a price-to-earnings-growth ratio of 0.66 and a beta of 1.30. Metlife Inc has a fifty-two week low of $39.31 and a fifty-two week high of $55.38. The company has a quick ratio of 0.15, a current ratio of 0.16 and a debt-to-equity ratio of 0.31.
Metlife (NYSE:MET) last issued its quarterly earnings data on Thursday, November 1st. The financial services provider reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.11. The company had revenue of $16.40 billion during the quarter, compared to analyst estimates of $15.88 billion. Metlife had a return on equity of 9.53% and a net margin of 7.62%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.09 earnings per share. Equities research analysts predict that Metlife Inc will post 5.26 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Tuesday, November 6th will be given a $0.42 dividend. The ex-dividend date of this dividend is Monday, November 5th. This represents a $1.68 annualized dividend and a yield of 3.85%. Metlife’s payout ratio is 37.33%.
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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