Sterling Capital Management LLC Cuts Stake in Metlife Inc (MET)

Sterling Capital Management LLC lessened its position in shares of Metlife Inc (NYSE:MET) by 53.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 102,649 shares of the financial services provider’s stock after selling 116,240 shares during the period. Sterling Capital Management LLC’s holdings in Metlife were worth $4,796,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Kaizen Advisory LLC raised its stake in shares of Metlife by 148.0% during the 2nd quarter. Kaizen Advisory LLC now owns 2,515 shares of the financial services provider’s stock worth $110,000 after buying an additional 1,501 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of Metlife during the 2nd quarter worth $110,000. FNY Investment Advisers LLC acquired a new position in shares of Metlife during the 2nd quarter worth $112,000. LFA Lugano Financial Advisors SA acquired a new position in shares of Metlife during the 2nd quarter worth $130,000. Finally, Tuttle Tactical Management acquired a new position in shares of Metlife during the 2nd quarter worth $144,000. 77.31% of the stock is owned by institutional investors and hedge funds.

Metlife stock opened at $43.60 on Monday. The stock has a market cap of $43.37 billion, a P/E ratio of 9.69, a P/E/G ratio of 0.66 and a beta of 1.30. Metlife Inc has a 52 week low of $39.31 and a 52 week high of $55.38. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.16 and a quick ratio of 0.15.

Metlife (NYSE:MET) last posted its quarterly earnings data on Thursday, November 1st. The financial services provider reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.11. The firm had revenue of $16.40 billion during the quarter, compared to analysts’ expectations of $15.88 billion. Metlife had a return on equity of 9.53% and a net margin of 7.62%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.09 EPS. As a group, sell-side analysts forecast that Metlife Inc will post 5.26 earnings per share for the current year.

The business 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 dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date is Monday, November 5th. Metlife’s dividend payout ratio is presently 37.33%.

Several research analysts have recently issued reports on the company. Sandler O’Neill reaffirmed a “hold” rating and set a $50.00 price target on shares of Metlife in a research note on Thursday, August 2nd. UBS Group lifted their price target on Metlife from $48.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, October 8th. Zacks Investment Research raised Metlife from a “sell” rating to a “hold” rating in a research note on Monday, July 16th. B. Riley dropped their price objective on Metlife from $58.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, July 16th. Finally, Wells Fargo & Co reiterated a “buy” rating and set a $60.00 price objective on shares of Metlife in a research report on Thursday, September 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $54.62.

In other Metlife news, Chairman Steven A. Kandarian sold 85,683 shares of Metlife stock in a transaction dated 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 completion of the sale, the chairman now owns 585,005 shares in the company, valued at approximately $27,454,284.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Steven A. Kandarian sold 42,805 shares of Metlife stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $47.03, for a total value of $2,013,119.15. Following the completion of the sale, the chairman now owns 559,097 shares of the company’s stock, valued at approximately $26,294,331.91. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

About Metlife

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.

See Also: Index Funds

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Institutional Ownership by Quarter for Metlife (NYSE:MET)

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