The Manufacturers Life Insurance Company trimmed its holdings in MetLife, Inc. (NYSE:MET) by 14.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 796,912 shares of the financial services provider’s stock after selling 136,072 shares during the period. The Manufacturers Life Insurance Company owned 0.09% of MetLife worth $29,621,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. OPSEU Pension Plan Trust Fund increased its stake in shares of MetLife by 3.8% during the third quarter. OPSEU Pension Plan Trust Fund now owns 8,106 shares of the financial services provider’s stock worth $301,000 after acquiring an additional 299 shares during the period. National Asset Management Inc. increased its stake in shares of MetLife by 1.5% during the third quarter. National Asset Management Inc. now owns 22,244 shares of the financial services provider’s stock worth $827,000 after acquiring an additional 322 shares during the period. Wedgewood Investors Inc. PA acquired a new position in shares of MetLife during the third quarter worth about $251,000. State Board of Administration of Florida Retirement System increased its stake in shares of MetLife by 1.2% during the third quarter. State Board of Administration of Florida Retirement System now owns 1,061,987 shares of the financial services provider’s stock worth $39,474,000 after acquiring an additional 12,323 shares during the period. Finally, Kestra Private Wealth Services LLC acquired a new position in shares of MetLife during the third quarter worth about $1,054,000. 74.92% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of MetLife from $49.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday. TheStreet upgraded shares of MetLife from a “c+” rating to a “b” rating in a research note on Thursday, November 5th. Wells Fargo & Company restated a “buy” rating and set a $45.00 target price on shares of MetLife in a research report on Thursday, August 6th. Credit Suisse Group upped their target price on shares of MetLife from $46.00 to $55.00 and gave the stock a “positive” rating in a research report on Tuesday, November 17th. Finally, Argus restated a “buy” rating on shares of MetLife in a research report on Wednesday, August 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $44.88.
Shares of NYSE MET opened at $45.87 on Friday. MetLife, Inc. has a 12-month low of $22.85 and a 12-month high of $53.28. The company has a market capitalization of $41.28 billion, a PE ratio of 7.53, a price-to-earnings-growth ratio of 1.67 and a beta of 1.28. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.16 and a quick ratio of 0.16. The firm’s 50-day moving average is $40.47 and its two-hundred day moving average is $37.99.
MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.08. MetLife had a net margin of 8.82% and a return on equity of 8.25%. The company had revenue of $16.51 billion for the quarter, compared to the consensus estimate of $16 billion. During the same quarter in the prior year, the firm earned $1.27 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, analysts forecast that MetLife, Inc. will post 5.63 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Shareholders of record on Tuesday, November 3rd will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Monday, November 2nd. MetLife’s dividend payout ratio (DPR) is presently 30.11%.
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses worldwide. 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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