MetLife, Inc. (MET) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its position in shares of MetLife, Inc. (NYSE:MET) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,688,410 shares of the financial services provider’s stock after selling 5,812 shares during the quarter. Rhumbline Advisers owned about 0.16% of MetLife worth $87,713,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bronfman E.L. Rothschild L.P. grew its holdings in MetLife by 0.7% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,505 shares of the financial services provider’s stock valued at $302,000 after buying an additional 38 shares in the last quarter. Forward Management LLC lifted its stake in shares of MetLife by 0.4% in the 2nd quarter. Forward Management LLC now owns 9,661 shares of the financial services provider’s stock valued at $531,000 after purchasing an additional 41 shares during the last quarter. Aspen Investment Management Inc lifted its stake in shares of MetLife by 0.7% in the 2nd quarter. Aspen Investment Management Inc now owns 7,178 shares of the financial services provider’s stock valued at $394,000 after purchasing an additional 50 shares during the last quarter. Atria Investments LLC lifted its stake in shares of MetLife by 0.4% in the 2nd quarter. Atria Investments LLC now owns 18,986 shares of the financial services provider’s stock valued at $1,043,000 after purchasing an additional 72 shares during the last quarter. Finally, Apriem Advisors lifted its stake in shares of MetLife by 0.6% in the 2nd quarter. Apriem Advisors now owns 13,060 shares of the financial services provider’s stock valued at $718,000 after purchasing an additional 74 shares during the last quarter. Institutional investors and hedge funds own 74.00% of the company’s stock.

Several equities research analysts have recently issued reports on the company. BidaskClub raised MetLife from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. B. Riley reaffirmed a “neutral” rating on shares of MetLife in a research note on Monday, November 6th. Zacks Investment Research lowered MetLife from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. ValuEngine raised MetLife from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 26th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $60.00 price objective (up from $56.00) on shares of MetLife in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $58.40.

MetLife, Inc. (MET) traded down $0.16 on Tuesday, reaching $52.00. The company’s stock had a trading volume of 844,466 shares, compared to its average volume of 5,874,213. The stock has a market cap of $54,930.01, a P/E ratio of 10.04, a P/E/G ratio of 1.31 and a beta of 1.51. MetLife, Inc. has a one year low of $44.26 and a one year high of $55.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.16 and a quick ratio of 0.16.

MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $0.90 by $0.19. The company had revenue of $16.10 billion for 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%. MetLife’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the business posted $1.28 EPS. equities analysts anticipate that MetLife, Inc. will post 4.43 EPS for the current year.

MetLife declared that its Board of Directors has initiated a share buyback plan on Wednesday, November 1st that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Monday, November 6th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, November 3rd. This represents a $1.60 annualized dividend and a yield of 3.08%. MetLife’s payout ratio is currently -320.00%.

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In other news, insider Christopher G. Townsend sold 82,731 shares of MetLife stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $54.60, for a total value of $4,517,112.60. Following the transaction, the insider now directly owns 49,660 shares in the company, valued at approximately $2,711,436. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher G. Townsend sold 55,712 shares of MetLife stock in a transaction on Monday, November 6th. The shares were 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 owns 25,181 shares in the company, valued at $1,367,076.49. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

About MetLife

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.

Institutional Ownership by Quarter for MetLife (NYSE:MET)

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