Oppenheimer Asset Management Inc. lifted its stake in MetLife, Inc. (NYSE:MET) by 22.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 757,814 shares of the financial services provider’s stock after buying an additional 138,725 shares during the period. MetLife makes up approximately 1.0% of Oppenheimer Asset Management Inc.’s investment portfolio, making the stock its 8th biggest position. Oppenheimer Asset Management Inc. owned about 0.07% of MetLife worth $39,368,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the stock. First Republic Investment Management Inc. boosted its stake in shares of MetLife by 30.5% in the third quarter. First Republic Investment Management Inc. now owns 86,528 shares of the financial services provider’s stock valued at $4,495,000 after buying an additional 20,230 shares during the period. Segall Bryant & Hamill LLC bought a new stake in shares of MetLife in the third quarter valued at approximately $219,000. Pinkerton Retirement Specialists LLC boosted its stake in shares of MetLife by 2.4% in the third quarter. Pinkerton Retirement Specialists LLC now owns 63,689 shares of the financial services provider’s stock valued at $3,337,000 after buying an additional 1,469 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of MetLife by 58.8% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,178,614 shares of the financial services provider’s stock valued at $113,655,000 after buying an additional 806,800 shares during the period. Finally, Epoch Investment Partners Inc. boosted its stake in shares of MetLife by 208.5% in the third quarter. Epoch Investment Partners Inc. now owns 10,291,110 shares of the financial services provider’s stock valued at $534,623,000 after buying an additional 6,954,917 shares during the period. Institutional investors and hedge funds own 76.37% of the company’s stock.
Several equities research analysts have weighed in on the company. TheStreet upgraded MetLife from a “c+” rating to a “b” rating in a research note on Wednesday, October 4th. Royal Bank Of Canada restated a “buy” rating and set a $56.00 target price on shares of MetLife in a research note on Wednesday, September 6th. Langen Mcalenn restated a “buy” rating on shares of MetLife in a research note on Wednesday, August 16th. Argus cut their target price on MetLife from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, August 9th. Finally, FBR & Co restated a “buy” rating and set a $53.00 target price on shares of MetLife in a research note on Tuesday, August 29th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $58.40.
Shares of MetLife, Inc. (NYSE:MET) traded down $0.04 during trading hours on Thursday, hitting $53.00. 3,500,300 shares of the stock traded hands, compared to its average volume of 5,728,484. The firm has a market capitalization of $55,813.94, a P/E ratio of 10.20, a PEG ratio of 1.33 and a beta of 1.49. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.31. MetLife, Inc. has a 52 week low of $44.26 and a 52 week high of $55.91.
MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.19. The company had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.47 billion. MetLife had a negative net margin of 0.75% and a positive return on equity of 8.81%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.28 earnings per share. sell-side analysts expect that MetLife, Inc. will post 4.43 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders 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 dividend yield of 3.02%. MetLife’s dividend payout ratio (DPR) is presently -320.00%.
In other news, 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 completion of the transaction, the insider now directly owns 49,660 shares in the company, valued at $2,711,436. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher G. Townsend sold 55,712 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $54.29, for a total transaction of $3,024,604.48. Following the transaction, the insider now owns 25,181 shares of the company’s stock, valued at $1,367,076.49. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.
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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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