Nuance Investments LLC increased its position in shares of MetLife, Inc. (NYSE:MET) by 112.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 668,886 shares of the financial services provider’s stock after purchasing an additional 353,627 shares during the quarter. MetLife accounts for 2.4% of Nuance Investments LLC’s investment portfolio, making the stock its 17th biggest holding. Nuance Investments LLC owned approximately 0.06% of MetLife worth $34,749,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. purchased a new stake in MetLife during the first quarter valued at about $33,049,000. State Street Corp boosted its position in shares of MetLife by 1.4% in the first quarter. State Street Corp now owns 49,020,964 shares of the financial services provider’s stock worth $2,589,297,000 after buying an additional 680,903 shares during the period. Signaturefd LLC acquired a new position in shares of MetLife in the first quarter worth about $214,000. Investment Centers of America Inc. lifted its stake in shares of MetLife by 43.5% in the first quarter. Investment Centers of America Inc. now owns 15,517 shares of the financial services provider’s stock worth $816,000 after acquiring an additional 4,702 shares in the last quarter. Finally, Shelton Capital Management raised its stake in MetLife by 49.8% during the first quarter. Shelton Capital Management now owns 82,057 shares of the financial services provider’s stock valued at $4,334,000 after buying an additional 27,282 shares in the last quarter. 76.37% of the stock is owned by institutional investors.
A number of equities analysts have issued reports on MET shares. Argus cut their price objective on MetLife from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, August 9th. BidaskClub upgraded MetLife from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Zacks Investment Research downgraded MetLife from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. ValuEngine upgraded shares of MetLife from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 11th. Finally, Barclays lowered their target price on shares of MetLife from $67.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, August 11th. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $58.40.
MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.19. The firm had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.47 billion. MetLife had a negative net margin of 0.75% and a positive return on equity of 8.81%. The business’s revenue was up 1.7% on a year-over-year basis. During the same period last year, the company earned $1.28 earnings per share. sell-side analysts expect that MetLife, Inc. will post 4.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders 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 annualized dividend and a dividend yield of 3.02%. MetLife’s payout ratio is -320.00%.
In related news, insider Christopher G. Townsend sold 55,712 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 25,181 shares in the company, valued at approximately $1,367,076.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher G. Townsend sold 82,731 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $54.60, for a total transaction of $4,517,112.60. Following the sale, 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.
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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