Candriam Luxembourg S.C.A. lifted its holdings in MetLife, Inc. (NYSE:MET) by 5.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 102,565 shares of the financial services provider’s stock after purchasing an additional 5,469 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in MetLife were worth $5,328,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. BlackRock Inc. grew its holdings in shares of MetLife by 2.2% in the second quarter. BlackRock Inc. now owns 69,957,359 shares of the financial services provider’s stock valued at $3,843,457,000 after purchasing an additional 1,481,489 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of MetLife by 2.1% in the second quarter. Vanguard Group Inc. now owns 66,723,143 shares of the financial services provider’s stock valued at $3,665,769,000 after purchasing an additional 1,358,523 shares in the last quarter. State Street Corp grew its holdings in shares of MetLife by 1.4% in the first quarter. State Street Corp now owns 49,020,964 shares of the financial services provider’s stock valued at $2,589,297,000 after purchasing an additional 680,903 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of MetLife by 1.6% in the second quarter. Franklin Resources Inc. now owns 25,704,204 shares of the financial services provider’s stock valued at $1,412,189,000 after purchasing an additional 414,032 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of MetLife by 6.9% in the first quarter. Geode Capital Management LLC now owns 10,265,096 shares of the financial services provider’s stock valued at $541,427,000 after purchasing an additional 664,918 shares in the last quarter. 74.00% of the stock is owned by hedge funds and other institutional investors.
MET has been the subject of a number of recent research reports. J P Morgan Chase & Co initiated coverage on shares of MetLife in a report on Monday, July 24th. They issued a “hold” rating and a $78.00 target price for the company. BidaskClub lowered shares of MetLife from a “hold” rating to a “sell” rating in a report on Monday, July 24th. TheStreet raised shares of MetLife from a “c” rating to a “b-” rating in a report on Monday, July 24th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $59.00 price objective on shares of MetLife in a research note on Thursday, August 3rd. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of MetLife in a research note on Monday, August 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $58.40.
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In other news, insider Christopher G. Townsend sold 82,731 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 49,660 shares in the company, valued at $2,711,436. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher G. Townsend sold 55,712 shares of the business’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 sale, 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. Insiders own 0.32% of the company’s stock.
MetLife, Inc. (MET) opened at $52.16 on Tuesday. The company has a market cap of $54,930.01, a PE ratio of 10.04, a price-to-earnings-growth ratio of 1.31 and a beta of 1.51. 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.
MetLife (NYSE:MET) last announced its earnings results 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. The business had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.47 billion. MetLife had a negative net margin of 0.75% and a positive return on equity of 8.81%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.28 earnings per share. equities analysts predict that MetLife, Inc. will post 4.43 EPS for the current fiscal year.
MetLife announced that its Board of Directors has authorized a share buyback program on Wednesday, November 1st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board 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 issued a $0.40 dividend. The ex-dividend date is Friday, November 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.07%. MetLife’s dividend payout ratio is presently -320.00%.
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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