Parkside Investments LLC boosted its position in MetLife, Inc. (NYSE:MET) by 6.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,769 shares of the financial services provider’s stock after purchasing an additional 2,953 shares during the quarter. MetLife makes up 1.6% of Parkside Investments LLC’s portfolio, making the stock its 27th biggest position. Parkside Investments LLC’s holdings in MetLife were worth $2,689,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Toronto Dominion Bank raised its holdings in MetLife by 3.2% in the third quarter. Toronto Dominion Bank now owns 445,177 shares of the financial services provider’s stock worth $23,130,000 after purchasing an additional 13,630 shares in the last quarter. New York State Common Retirement Fund raised its holdings in MetLife by 3.3% in the third quarter. New York State Common Retirement Fund now owns 2,467,700 shares of the financial services provider’s stock worth $128,197,000 after purchasing an additional 78,600 shares in the last quarter. BTC Capital Management Inc. raised its holdings in MetLife by 1.8% in the third quarter. BTC Capital Management Inc. now owns 62,403 shares of the financial services provider’s stock worth $3,241,000 after purchasing an additional 1,128 shares in the last quarter. Cambiar Investors LLC raised its holdings in MetLife by 9.7% in the third quarter. Cambiar Investors LLC now owns 789,278 shares of the financial services provider’s stock worth $41,003,000 after purchasing an additional 69,472 shares in the last quarter. Finally, Intrust Bank NA raised its holdings in MetLife by 4.2% in the third quarter. Intrust Bank NA now owns 25,560 shares of the financial services provider’s stock worth $1,328,000 after purchasing an additional 1,042 shares in the last quarter. Institutional investors and hedge funds own 74.00% of the company’s stock.
MetLife, Inc. (NYSE MET) traded down $0.04 during trading on Tuesday, hitting $52.16. The company had a trading volume of 3,263,300 shares, compared to its average volume of 5,874,213. 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, Inc. has a 12 month low of $44.26 and a 12 month high of $55.91. The stock has a market capitalization of $54,930.01, a PE ratio of 10.04, a PEG ratio of 1.31 and a beta of 1.51.
MetLife (NYSE:MET) last announced its earnings results on Wednesday, November 1st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.19. The business had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.47 billion. MetLife had a positive return on equity of 8.81% and a negative net margin of 0.75%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the firm posted $1.28 earnings per share. research analysts anticipate that MetLife, Inc. will post 4.43 earnings per share for the current fiscal year.
MetLife declared that its board has approved a stock repurchase 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 typically a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Monday, November 6th will be given a $0.40 dividend. The ex-dividend date is Friday, November 3rd. This represents a $1.60 annualized dividend and a yield of 3.07%. MetLife’s payout ratio is -320.00%.
In other MetLife news, insider Christopher G. Townsend sold 82,731 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 49,660 shares of the company’s stock, valued at $2,711,436. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher G. Townsend sold 55,712 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 25,181 shares in the company, valued at $1,367,076.49. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.
MET has been the subject of a number of research reports. TheStreet upgraded MetLife from a “c+” rating to a “b” rating in a report on Wednesday, October 4th. Argus decreased their price objective on MetLife from $60.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, August 9th. Wells Fargo & Company reissued a “buy” rating on shares of MetLife in a research note on Monday, August 7th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $59.00 target price on shares of MetLife in a research note on Thursday, August 3rd. Finally, Langen Mcalenn reissued a “buy” rating on shares of MetLife in a research note on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $58.40.
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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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