Vestmark Advisory Solutions Inc. decreased its position in Metlife Inc (NYSE:MET) by 3.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 22,073 shares of the financial services provider’s stock after selling 876 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Metlife were worth $1,041,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kavar Capital Partners LLC purchased a new stake in shares of Metlife during the second quarter valued at $25,000. Motco lifted its holdings in shares of Metlife by 160.6% during the second quarter. Motco now owns 516 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 318 shares during the last quarter. Coastal Capital Group Inc. purchased a new stake in shares of Metlife during the second quarter valued at $30,000. Venturi Wealth Management LLC purchased a new stake in shares of Metlife during the third quarter valued at $37,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Metlife by 2,474.2% during the second quarter. Meeder Asset Management Inc. now owns 798 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 767 shares during the last quarter. 74.87% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently commented on MET. Citigroup reduced their target price on Metlife from $42.00 to $41.00 and set a “sell” rating for the company in a report on Friday, September 13th. B. Riley reaffirmed a “neutral” rating on shares of Metlife in a report on Tuesday, October 15th. ValuEngine raised Metlife from a “strong sell” rating to a “sell” rating in a report on Monday, November 4th. Morgan Stanley dropped their price target on Metlife from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 20th. Finally, UBS Group upped their price target on Metlife from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $49.51.
NYSE:MET traded down $0.32 during trading hours on Wednesday, hitting $49.26. 3,979,944 shares of the company’s stock traded hands, compared to its average volume of 5,403,067. The firm has a market cap of $45.36 billion, a P/E ratio of 9.14, a P/E/G ratio of 1.11 and a beta of 1.12. Metlife Inc has a twelve month low of $37.76 and a twelve month high of $51.16. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.15 and a current ratio of 0.15. The stock’s fifty day moving average price is $46.67 and its two-hundred day moving average price is $47.47.
Metlife (NYSE:MET) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.40 by ($0.13). The business had revenue of $16.92 billion for the quarter, compared to analyst estimates of $16.37 billion. Metlife had a net margin of 10.82% and a return on equity of 8.82%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.38 earnings per share. On average, equities research analysts predict that Metlife Inc will post 5.55 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 5th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Monday, November 4th. Metlife’s payout ratio is 32.65%.
Metlife Company Profile
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; 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, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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