RNC Capital Management LLC boosted its stake in shares of Metlife Inc (NYSE:MET) by 1.4% in the 4th quarter, Holdings Channel reports. The firm owned 798,341 shares of the financial services provider’s stock after buying an additional 10,697 shares during the quarter. Metlife makes up 2.8% of RNC Capital Management LLC’s holdings, making the stock its 12th largest holding. RNC Capital Management LLC’s holdings in Metlife were worth $40,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently added to or reduced their stakes in the company. Farmers National Bank acquired a new position in Metlife during the 2nd quarter valued at $118,000. Ffcm LLC raised its stake in shares of Metlife by 2,020.8% in the 3rd quarter. Ffcm LLC now owns 2,248 shares of the financial services provider’s stock valued at $119,000 after buying an additional 2,142 shares in the last quarter. Cable Hill Partners LLC raised its stake in shares of Metlife by 246.6% in the 3rd quarter. Cable Hill Partners LLC now owns 2,412 shares of the financial services provider’s stock valued at $125,000 after buying an additional 1,716 shares in the last quarter. Valeo Financial Advisors LLC acquired a new position in shares of Metlife in the 3rd quarter valued at $151,000. Finally, Fieldpoint Private Securities LLC acquired a new position in shares of Metlife in the 3rd quarter valued at $175,000. Hedge funds and other institutional investors own 76.27% of the company’s stock.
In other Metlife news, insider Christopher G. Townsend sold 82,731 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $54.60, for a total transaction of $4,517,112.60. Following the sale, the insider now owns 49,660 shares of the company’s stock, valued at approximately $2,711,436. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Christopher G. Townsend sold 55,712 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $54.29, for a total transaction of $3,024,604.48. Following the sale, the insider now directly 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 currently owned by corporate insiders.
Shares of Metlife Inc (MET) opened at $51.85 on Wednesday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.31. Metlife Inc has a fifty-two week low of $44.26 and a fifty-two week high of $55.91. The firm has a market cap of $56,119.11, a PE ratio of -103.70, a PEG ratio of 1.20 and a beta of 1.49.
Metlife (NYSE:MET) last posted its earnings results on Wednesday, November 1st. The financial services provider reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.19. Metlife had a negative net margin of 0.75% and a positive return on equity of 8.81%. 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 earned $1.28 EPS. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. research analysts expect that Metlife Inc will post 4.4 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 13th. Stockholders of record on Monday, February 5th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Friday, February 2nd. Metlife’s payout ratio is -320.00%.
A number of equities analysts have recently issued reports on the stock. ValuEngine cut shares of Metlife from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 10th. Wells Fargo & Co restated an “outperform” rating and issued a $60.00 price objective (up previously from $55.00) on shares of Metlife in a research note on Tuesday, October 3rd. They noted that the move was a valuation call. B. Riley restated a “neutral” rating on shares of Metlife in a research note on Monday, November 6th. Zacks Investment Research upgraded shares of Metlife from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Thursday, November 9th. Finally, Sandler O’Neill cut shares of Metlife from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $57.90.
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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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