Lumbard & Kellner LLC Has $7.36 Million Stake in MetLife, Inc. (MET)

Lumbard & Kellner LLC grew its holdings in MetLife, Inc. (NYSE:MET) by 1.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 141,753 shares of the financial services provider’s stock after buying an additional 2,200 shares during the period. MetLife accounts for about 4.0% of Lumbard & Kellner LLC’s portfolio, making the stock its 5th biggest holding. Lumbard & Kellner LLC’s holdings in MetLife were worth $7,364,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. California Public Employees Retirement System increased its stake in shares of MetLife by 1.7% during the third quarter. California Public Employees Retirement System now owns 2,438,230 shares of the financial services provider’s stock worth $126,666,000 after purchasing an additional 40,995 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of MetLife by 12.9% during the third quarter. Janney Montgomery Scott LLC now owns 745,134 shares of the financial services provider’s stock worth $38,710,000 after purchasing an additional 85,408 shares during the period. Valeo Financial Advisors LLC bought a new position in shares of MetLife during the third quarter worth approximately $151,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of MetLife by 8.1% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 103,179 shares of the financial services provider’s stock worth $5,360,000 after purchasing an additional 7,741 shares during the period. Finally, Beacon Investment Advisory Services Inc. increased its stake in shares of MetLife by 780.7% during the third quarter. Beacon Investment Advisory Services Inc. now owns 111,829 shares of the financial services provider’s stock worth $5,809,000 after purchasing an additional 99,131 shares during the period. 76.37% of the stock is owned by institutional investors.

A number of brokerages have recently weighed in on MET. Sandler O’Neill lowered MetLife from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. ValuEngine lowered MetLife from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 9th. Zacks Investment Research upgraded MetLife from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Thursday, November 9th. B. Riley reiterated a “neutral” rating on shares of MetLife in a research note on Monday, November 6th. Finally, Argus increased their target price on MetLife from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. MetLife has an average rating of “Buy” and a consensus price target of $58.40.

In other MetLife news, insider Christopher G. Townsend sold 55,712 shares of the firm’s stock in a transaction 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 sale, the insider now owns 25,181 shares of the company’s stock, valued at approximately $1,367,076.49. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christopher G. Townsend sold 82,731 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now directly owns 49,660 shares in the company, valued at approximately $2,711,436. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.

MetLife, Inc. (MET) traded down $0.12 during trading on Tuesday, reaching $53.64. The company’s stock had a trading volume of 3,558,000 shares, compared to its average volume of 5,702,736. 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 quick ratio of 0.16 and a current ratio of 0.16. The company has a market cap of $56,571.59, a price-to-earnings ratio of 10.34, a PEG ratio of 1.35 and a beta of 1.49.

MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.09 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.47 billion. During the same quarter last year, the company earned $1.28 EPS. The company’s revenue was up 1.7% on a year-over-year basis. equities analysts expect that MetLife, Inc. will post 4.43 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Monday, November 6th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, November 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.98%. MetLife’s dividend payout ratio (DPR) is presently -320.00%.

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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.

Institutional Ownership by Quarter for MetLife (NYSE:MET)

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