Parametric Portfolio Associates LLC boosted its position in shares of Metlife Inc (NYSE:MET) by 5.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,762,193 shares of the financial services provider’s stock after acquiring an additional 147,992 shares during the period. Parametric Portfolio Associates LLC owned 0.26% of Metlife worth $143,496,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MET. Farmers National Bank purchased a new position in shares of Metlife in the second quarter valued at $118,000. Ffcm LLC boosted its stake in Metlife by 2,020.8% during the third quarter. Ffcm LLC now owns 2,248 shares of the financial services provider’s stock worth $119,000 after buying an additional 2,142 shares during the period. Cable Hill Partners LLC boosted its stake in Metlife by 246.6% during the third quarter. Cable Hill Partners LLC now owns 2,412 shares of the financial services provider’s stock worth $125,000 after buying an additional 1,716 shares during the period. Valeo Financial Advisors LLC purchased a new position in Metlife during the third quarter worth $151,000. Finally, First Mercantile Trust Co. boosted its stake in Metlife by 3.4% during the second quarter. First Mercantile Trust Co. now owns 2,926 shares of the financial services provider’s stock worth $161,000 after buying an additional 97 shares during the period. Institutional investors own 76.24% of the company’s stock.
Several research analysts have commented on MET shares. TheStreet raised shares of Metlife from a “c+” rating to a “b” rating in a research note on Wednesday, October 4th. Royal Bank of Canada reiterated a “buy” rating and set a $56.00 target price on shares of Metlife in a research report on Wednesday, September 6th. ValuEngine downgraded Metlife from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 10th. Wells Fargo & Co restated a “buy” rating on shares of Metlife in a report on Wednesday, October 18th. Finally, Argus lifted their price objective on Metlife from $55.00 to $60.00 and gave the company a “buy” rating in a report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $58.52.
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 Thomson Reuters’ consensus estimate of $0.90 by $0.19. Metlife had a positive return on equity of 8.81% and a negative net margin of 0.75%. The business had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.47 billion. During the same quarter in the prior year, the firm posted $1.28 EPS. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. sell-side analysts anticipate that Metlife Inc will post 4.42 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 13th. Stockholders of record on Monday, November 6th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.16%. The ex-dividend date was Friday, November 3rd. Metlife’s payout ratio is -320.00%.
In other Metlife news, insider Christopher G. Townsend sold 82,731 shares of the company’s 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 completion of the sale, 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 SEC, 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 shares were sold at an average price of $54.29, for a total value of $3,024,604.48. Following the completion of the sale, 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. Corporate insiders own 0.32% of the company’s stock.
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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.
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