Benjamin F. Edwards & Company Inc. Sells 13,442 Shares of Metlife Inc (MET)

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Benjamin F. Edwards & Company Inc. cut its holdings in shares of Metlife Inc (NYSE:MET) by 47.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,039 shares of the financial services provider’s stock after selling 13,442 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Metlife were worth $703,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MET. Summit Trail Advisors LLC boosted its position in Metlife by 39.8% during the first quarter. Summit Trail Advisors LLC now owns 12,115 shares of the financial services provider’s stock worth $333,000 after acquiring an additional 3,451 shares during the last quarter. Mount Yale Investment Advisors LLC acquired a new position in Metlife in the 1st quarter valued at about $108,000. DnB Asset Management AS boosted its holdings in Metlife by 6.4% in the 2nd quarter. DnB Asset Management AS now owns 109,539 shares of the financial services provider’s stock valued at $4,776,000 after purchasing an additional 6,600 shares during the last quarter. IFM Investors Pty Ltd boosted its holdings in Metlife by 43.8% in the 2nd quarter. IFM Investors Pty Ltd now owns 40,145 shares of the financial services provider’s stock valued at $1,750,000 after purchasing an additional 12,221 shares during the last quarter. Finally, DAVENPORT & Co LLC boosted its holdings in Metlife by 602.7% in the 2nd quarter. DAVENPORT & Co LLC now owns 78,943 shares of the financial services provider’s stock valued at $3,442,000 after purchasing an additional 67,708 shares during the last quarter. Hedge funds and other institutional investors own 77.50% of the company’s stock.

MET has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Metlife from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. UBS Group boosted their target price on shares of Metlife from $48.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, October 8th. Barclays decreased their target price on shares of Metlife from $60.00 to $57.00 and set an “overweight” rating on the stock in a report on Monday, July 9th. Wells Fargo & Co reiterated a “buy” rating and issued a $60.00 target price on shares of Metlife in a report on Thursday, September 27th. Finally, Sandler O’Neill reiterated a “hold” rating and issued a $50.00 target price on shares of Metlife in a report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. Metlife presently has a consensus rating of “Hold” and a consensus target price of $55.00.

In other news, Chairman Steven A. Kandarian sold 42,805 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $47.03, for a total value of $2,013,119.15. Following the sale, the chairman now directly owns 559,097 shares of the company’s stock, valued at approximately $26,294,331.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Steven A. Kandarian sold 85,683 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $46.93, for a total transaction of $4,021,103.19. Following the completion of the sale, the chairman now directly owns 585,005 shares in the company, valued at $27,454,284.65. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

Metlife stock opened at $41.19 on Thursday. The company has a market capitalization of $39.36 billion, a PE ratio of 9.15, a P/E/G ratio of 0.61 and a beta of 1.23. Metlife Inc has a 1 year low of $39.31 and a 1 year high of $55.91. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.29.

Metlife (NYSE:MET) last released its quarterly earnings results on Wednesday, August 1st. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. The business had revenue of $21.22 billion for the quarter, compared to the consensus estimate of $15.65 billion. Metlife had a net margin of 6.12% and a return on equity of 9.17%. The business’s revenue was up 36.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.04 EPS. On average, research analysts forecast that Metlife Inc will post 5.21 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Tuesday, November 6th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Monday, November 5th. Metlife’s dividend payout ratio (DPR) is 37.33%.

About Metlife

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.

Further Reading: Why do earnings reports matter?

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Institutional Ownership by Quarter for Metlife (NYSE:MET)

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