Private Management Group Inc. decreased its position in MetLife, Inc. (NYSE:MET) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 797,455 shares of the financial services provider’s stock after selling 5,350 shares during the period. MetLife accounts for 2.2% of Private Management Group Inc.’s portfolio, making the stock its 8th largest position. Private Management Group Inc. owned 0.08% of MetLife worth $41,428,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in MET. Simmons Bank lifted its stake in MetLife by 3.1% in the first quarter. Simmons Bank now owns 14,090 shares of the financial services provider’s stock valued at $745,000 after buying an additional 423 shares during the period. Mission Wealth Management LLC lifted its stake in MetLife by 1.2% in the first quarter. Mission Wealth Management LLC now owns 11,091 shares of the financial services provider’s stock valued at $586,000 after buying an additional 128 shares during the period. Beacon Investment Advisory Services Inc. lifted its stake in MetLife by 20.8% in the first quarter. Beacon Investment Advisory Services Inc. now owns 8,911 shares of the financial services provider’s stock valued at $471,000 after buying an additional 1,537 shares during the period. RFG Advisory Group LLC acquired a new position in MetLife in the first quarter valued at about $389,000. Finally, South Dakota Investment Council lifted its stake in MetLife by 3.3% in the first quarter. South Dakota Investment Council now owns 968,389 shares of the financial services provider’s stock valued at $51,150,000 after buying an additional 30,780 shares during the period. 74.00% of the stock is currently owned by hedge funds and other institutional investors.
In other MetLife news, insider Christopher G. Townsend sold 55,712 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $54.29, for a total value of $3,024,604.48. Following the completion of the transaction, the insider now directly owns 25,181 shares in the company, valued at $1,367,076.49. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher G. Townsend sold 82,731 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $54.60, for a total value of $4,517,112.60. Following the completion of the transaction, the insider now 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 company insiders.
Shares of MetLife, Inc. (NYSE MET) traded down $0.16 during trading on Thursday, reaching $51.84. The company had a trading volume of 3,486,200 shares, compared to its average volume of 5,849,833. MetLife, Inc. has a 1-year low of $44.26 and a 1-year high of $55.91. The firm has a market cap of $54,550.00, a price-to-earnings ratio of 10.00, a PEG ratio of 1.31 and a beta of 1.51. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.16.
MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.19. The firm had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.47 billion. MetLife had a positive return on equity of 8.81% and a negative net margin of 0.75%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same period last year, the company earned $1.28 earnings per share. analysts anticipate that MetLife, Inc. will post 4.43 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Monday, November 6th will be paid 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 3.09%. MetLife’s dividend payout ratio is 347.83%.
MetLife declared that its board has authorized a share buyback plan on Wednesday, November 1st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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MET has been the topic of several analyst reports. Royal Bank Of Canada reissued a “buy” rating and issued a $56.00 target price on shares of MetLife in a research note on Wednesday, September 6th. UBS AG reaffirmed a “neutral” rating and set a $49.00 price target (down previously from $57.00) on shares of MetLife in a research report on Friday, September 1st. ValuEngine lowered MetLife from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 26th. J P Morgan Chase & Co initiated coverage on MetLife in a research report on Monday, July 24th. They set a “hold” rating and a $78.00 price target on the stock. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $59.00 price target on shares of MetLife in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. MetLife currently has an average rating of “Buy” and an average price target of $58.40.
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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