Argyle Capital Management Inc. Trims Holdings in MetLife, Inc. (NYSE:MET)

Argyle Capital Management Inc. reduced its holdings in shares of MetLife, Inc. (NYSE:MET) by 19.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 37,525 shares of the financial services provider’s stock after selling 9,200 shares during the period. Argyle Capital Management Inc.’s holdings in MetLife were worth $2,482,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Strategic Blueprint LLC lifted its position in MetLife by 4.1% during the 3rd quarter. Strategic Blueprint LLC now owns 5,467 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 217 shares during the period. CX Institutional lifted its holdings in shares of MetLife by 12.0% during the third quarter. CX Institutional now owns 5,386 shares of the financial services provider’s stock worth $339,000 after purchasing an additional 577 shares during the period. Oak Thistle LLC purchased a new position in MetLife in the 3rd quarter valued at $397,000. Simplicity Solutions LLC raised its position in MetLife by 4.3% during the 3rd quarter. Simplicity Solutions LLC now owns 25,830 shares of the financial services provider’s stock worth $1,625,000 after buying an additional 1,055 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its stake in shares of MetLife by 84.1% in the 3rd quarter. Valeo Financial Advisors LLC now owns 12,320 shares of the financial services provider’s stock worth $775,000 after acquiring an additional 5,629 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Ramy Tadros sold 4,026 shares of MetLife stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total transaction of $289,469.40. Following the transaction, the insider now owns 146,981 shares of the company’s stock, valued at $10,567,933.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Ramy Tadros sold 4,026 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total value of $289,469.40. Following the completion of the transaction, the insider now directly owns 146,981 shares of the company’s stock, valued at $10,567,933.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Bill Pappas sold 27,000 shares of MetLife stock in a transaction on Monday, March 18th. The stock was sold at an average price of $72.27, for a total value of $1,951,290.00. Following the sale, the executive vice president now owns 57,768 shares in the company, valued at $4,174,893.36. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of MetLife from $82.00 to $87.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Wells Fargo & Company upped their price objective on MetLife from $83.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. UBS Group reduced their target price on shares of MetLife from $87.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, February 5th. The Goldman Sachs Group raised MetLife from a “neutral” rating to a “buy” rating and raised their price target for the company from $70.00 to $80.00 in a report on Monday, January 8th. Finally, Morgan Stanley lifted their target price on shares of MetLife from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $79.23.

MetLife Trading Down 2.1 %

MET traded down $1.48 during trading on Friday, hitting $70.42. The company’s stock had a trading volume of 5,650,572 shares, compared to its average volume of 2,506,510. The firm has a market capitalization of $50.92 billion, a P/E ratio of 38.48, a PEG ratio of 0.53 and a beta of 1.04. MetLife, Inc. has a twelve month low of $48.95 and a twelve month high of $74.68. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.53. The stock’s fifty day moving average price is $71.44 and its 200-day moving average price is $67.22.

MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $1.93 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.02). The company had revenue of $18.72 billion during the quarter, compared to the consensus estimate of $18.07 billion. MetLife had a net margin of 2.36% and a return on equity of 19.48%. Analysts anticipate that MetLife, Inc. will post 8.71 EPS for the current year.

MetLife Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 7th will be paid a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Monday, May 6th. This is a positive change from MetLife’s previous quarterly dividend of $0.52. MetLife’s payout ratio is 113.66%.

About MetLife

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; 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, pet insurance, 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.