Benin Management CORP boosted its holdings in shares of Metlife Inc (NYSE:MET) by 68.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,510 shares of the financial services provider’s stock after buying an additional 11,585 shares during the period. Benin Management CORP’s holdings in Metlife were worth $1,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in MET. Epoch Investment Partners Inc. increased its position in Metlife by 208.5% during the 3rd 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 in the last quarter. BlackRock Inc. increased its position in Metlife by 2.2% during the 2nd quarter. BlackRock Inc. now owns 69,957,359 shares of the financial services provider’s stock valued at $3,843,457,000 after buying an additional 1,481,489 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Metlife during the 2nd quarter valued at about $76,823,000. Vanguard Group Inc. increased its position in Metlife by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 66,723,143 shares of the financial services provider’s stock valued at $3,665,769,000 after buying an additional 1,358,523 shares in the last quarter. Finally, TD Asset Management Inc. increased its position in Metlife by 20.5% during the 3rd quarter. TD Asset Management Inc. now owns 6,268,938 shares of the financial services provider’s stock valued at $325,671,000 after buying an additional 1,067,700 shares in the last quarter. 76.27% of the stock is currently owned by institutional investors.
MET has been the topic of several recent analyst reports. ValuEngine raised Metlife from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 26th. Wells Fargo & Co reissued an “outperform” rating and issued a $60.00 price objective (up from $55.00) on shares of Metlife in a report on Tuesday, October 3rd. They noted that the move was a valuation call. Morgan Stanley increased their price objective on Metlife from $54.00 to $55.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. TheStreet raised Metlife from a “c+” rating to a “b” rating in a report on Wednesday, October 4th. Finally, Zacks Investment Research raised Metlife from a “strong sell” rating to a “hold” rating in a report on Monday, October 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $57.77.
Metlife (NYSE:MET) last issued its earnings results on Wednesday, November 1st. The financial services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.47 billion. During the same quarter in the prior year, the business earned $1.28 earnings per share. The company’s revenue was up 1.7% compared to the same quarter last year. equities research analysts expect that Metlife Inc will post 4.4 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 13th. Stockholders of record on Monday, February 5th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.04%. Metlife’s payout ratio is 347.83%.
In other Metlife news, insider Christopher G. Townsend sold 82,731 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $54.60, for a total transaction of $4,517,112.60. Following the transaction, the insider now 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 is accessible through the SEC website. Also, insider Christopher G. Townsend sold 55,712 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $54.29, for a total value of $3,024,604.48. Following the transaction, the insider now owns 25,181 shares in the company, valued at approximately $1,367,076.49. The disclosure for this sale can be found here. 0.32% of the stock is owned by corporate insiders.
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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