Westpac Banking Corp lowered its stake in shares of Metlife Inc (NYSE:MET) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 120,035 shares of the financial services provider’s stock after selling 6,433 shares during the period. Westpac Banking Corp’s holdings in Metlife were worth $6,069,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of MET. Beach Investment Management LLC. purchased a new stake in Metlife during the second quarter worth $1,471,000. HPM Partners LLC lifted its holdings in shares of Metlife by 2.9% during the 2nd quarter. HPM Partners LLC now owns 32,742 shares of the financial services provider’s stock valued at $1,799,000 after purchasing an additional 915 shares during the last quarter. AMG Funds LLC lifted its holdings in shares of Metlife by 0.7% during the 2nd quarter. AMG Funds LLC now owns 31,352 shares of the financial services provider’s stock valued at $1,722,000 after purchasing an additional 220 shares during the last quarter. Bfsg LLC purchased a new stake in shares of Metlife during the 2nd quarter valued at $237,000. Finally, Dai Ichi Life Insurance Company Ltd lifted its holdings in shares of Metlife by 49.1% during the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 140,168 shares of the financial services provider’s stock valued at $7,701,000 after purchasing an additional 46,175 shares during the last quarter. Institutional investors own 76.27% of the company’s stock.
Metlife Inc (NYSE MET) opened at $53.40 on Friday. 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 $44.43 and a 12-month high of $55.91. The stock has a market capitalization of $56,192.77, a price-to-earnings ratio of -106.80, a P/E/G ratio of 1.19 and a beta of 1.49.
Metlife (NYSE:MET) last released its earnings results on Wednesday, November 1st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating the 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 the consensus estimate of $15.47 billion. During the same period in the prior year, the firm earned $1.28 EPS. The firm’s revenue was up 1.7% on a year-over-year basis. research analysts predict that Metlife Inc will post 4.42 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 13th. Investors of record on Monday, February 5th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, February 2nd. Metlife’s payout ratio is -320.00%.
In related news, insider Christopher G. Townsend sold 55,712 shares of the company’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 transaction, the insider now directly owns 25,181 shares of the company’s stock, valued at approximately $1,367,076.49. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christopher G. Townsend sold 82,731 shares of the company’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 transaction, the insider now directly owns 49,660 shares in the company, valued at $2,711,436. The disclosure for this sale can be found here. 0.32% of the stock is owned by corporate insiders.
Several analysts have recently commented on MET shares. Goldman Sachs Group started coverage on Metlife in a report on Wednesday, October 18th. They set a “conviction-buy” rating and a $61.00 price objective for the company. ValuEngine lowered Metlife from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 9th. Zacks Investment Research lowered Metlife from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $60.00 price objective (up previously from $56.00) on shares of Metlife in a report on Friday, November 3rd. Finally, TheStreet upgraded Metlife from a “c+” rating to a “b” rating in a report on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Metlife currently has an average rating of “Hold” and an average target price of $57.77.
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.
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