Baldwin Brothers Inc. MA lowered its stake in MetLife, Inc. (NYSE:MET) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 106,333 shares of the financial services provider’s stock after selling 2,430 shares during the quarter. Baldwin Brothers Inc. MA’s holdings in MetLife were worth $5,524,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in MET. BlackRock Inc. raised its position in shares of MetLife by 3,323.3% during the 1st quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock valued at $3,616,895,000 after buying an additional 66,475,603 shares in the last quarter. Epoch Investment Partners Inc. bought a new position in MetLife during the 2nd quarter valued at about $183,290,000. Vanguard Group Inc. grew its holdings in MetLife by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 65,364,620 shares of the financial services provider’s stock valued at $3,452,559,000 after purchasing an additional 1,885,246 shares during the last quarter. TD Asset Management Inc. grew its holdings in MetLife by 47.7% during the 2nd quarter. TD Asset Management Inc. now owns 5,201,238 shares of the financial services provider’s stock valued at $285,756,000 after purchasing an additional 1,679,740 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in MetLife during the 1st quarter valued at about $82,954,000. Hedge funds and other institutional investors own 74.00% of the company’s stock.
MetLife, Inc. (MET) traded down $0.04 on Tuesday, hitting $52.16. 3,263,300 shares of the stock were exchanged, compared to its average volume of 5,874,213. The stock has a market capitalization of $54,930.01, a price-to-earnings ratio of 10.04, a P/E/G ratio of 1.31 and a beta of 1.51. MetLife, Inc. has a 12 month low of $44.26 and a 12 month 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 results on Wednesday, November 1st. The financial services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.19. MetLife had a negative net margin of 0.75% and a positive return on equity of 8.81%. The business had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.47 billion. During the same quarter last year, the company earned $1.28 earnings per share. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. analysts forecast that MetLife, Inc. will post 4.43 earnings per share for the current year.
The firm 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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Friday, November 3rd. MetLife’s dividend payout ratio is presently -320.00%.
MetLife declared that its Board of Directors has authorized a share buyback program 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 buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.
COPYRIGHT VIOLATION WARNING: This news story was first published by Week Herald and is the property of of Week Herald. If you are viewing this news story on another publication, it was stolen and reposted in violation of United States & international copyright and trademark law. The legal version of this news story can be accessed at https://weekherald.com/2017/11/14/baldwin-brothers-inc-ma-sells-2430-shares-of-metlife-inc-met.html.
MET has been the topic of a number of recent research reports. J P Morgan Chase & Co assumed coverage on shares of MetLife in a research note on Monday, July 24th. They set a “hold” rating and a $78.00 price objective on the stock. BidaskClub lowered shares of MetLife from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. TheStreet upgraded shares of MetLife from a “c” rating to a “b-” rating in a research report on Monday, July 24th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $59.00 target price on shares of MetLife in a research note on Thursday, August 3rd. Finally, Wells Fargo & Company restated a “buy” rating on shares of MetLife in a report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $58.40.
In other MetLife news, insider Christopher G. Townsend sold 82,731 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $54.60, for a total value of $4,517,112.60. Following the sale, 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 SEC, which is available through this hyperlink. Also, insider Christopher G. Townsend sold 55,712 shares of the business’s stock in a transaction dated 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 completion of the sale, 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. Insiders own 0.32% of the company’s stock.
MetLife Company Profile
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.
Receive News & Ratings for MetLife Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MetLife Inc. and related companies with MarketBeat.com's FREE daily email newsletter.