MetLife, Inc. $MET Stock Sold by Pzena Investment Management LLC

Pzena Investment Management LLC reduced its stake in MetLife, Inc. (NYSE:MET) by 5.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 10,571,702 shares of the financial services provider’s stock after selling 559,281 shares during the quarter. MetLife comprises 3.0% of Pzena Investment Management LLC’s investment portfolio, making the stock its 10th largest position. Pzena Investment Management LLC’s holdings in MetLife were worth $995,431,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. CX Institutional raised its position in MetLife by 1.3% in the 3rd quarter. CX Institutional now owns 8,672 shares of the financial services provider’s stock valued at $817,000 after buying an additional 115 shares during the last quarter. Investment Research Partners LLC lifted its position in shares of MetLife by 3.9% in the third quarter. Investment Research Partners LLC now owns 3,103 shares of the financial services provider’s stock valued at $292,000 after buying an additional 116 shares during the last quarter. McGlone Suttner Wealth Management Inc. lifted its holdings in MetLife by 0.6% during the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 22,391 shares of the financial services provider’s stock valued at $2,108,000 after purchasing an additional 124 shares during the last quarter. Capital Analysts LLC boosted its holdings in shares of MetLife by 0.3% during the 2nd quarter. Capital Analysts LLC now owns 38,262 shares of the financial services provider’s stock worth $3,238,000 after buying an additional 129 shares during the period. Finally, Carnegie Investment Counsel boosted its holdings in shares of MetLife by 4.4% during the third quarter. Carnegie Investment Counsel now owns 3,136 shares of the financial services provider’s stock worth $295,000 after acquiring an additional 132 shares during the period. 94.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of MetLife from $105.00 to $108.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. Atlantic Securities set a $103.00 target price on MetLife in a research note on Wednesday, July 15th. UBS Group upped their target price on MetLife from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, October 6th. Bank of America dropped their price target on shares of MetLife from $106.00 to $103.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Finally, Wall Street Zen upgraded MetLife from a “hold” rating to a “buy” rating in a report on Sunday, September 27th. Thirteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, MetLife presently has a consensus rating of “Moderate Buy” and an average price target of $105.44.

MetLife Price Performance

Shares of NYSE:MET opened at $102.84 on Thursday. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.52. MetLife, Inc. has a twelve month low of $67.33 and a twelve month high of $103.65. The stock’s 50 day moving average is $98.05 and its 200-day moving average is $86.03. The firm has a market capitalization of $66.17 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 0.95 and a beta of 0.79.

MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.01. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The business had revenue of $20.52 billion during the quarter, compared to analyst estimates of $19.86 billion. During the same quarter in the previous year, the business posted $2.34 EPS. MetLife’s quarterly revenue was up 18.2% on a year-over-year basis. Sell-side analysts forecast that MetLife, Inc. will post 9.94 EPS for the current fiscal year.

MetLife Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Tuesday, November 3rd will be issued a $0.5925 dividend. The ex-dividend date is Tuesday, November 3rd. This represents a $2.37 annualized dividend and a dividend yield of 2.3%. MetLife’s dividend payout ratio is currently 45.40%.

MetLife announced that its Board of Directors has initiated a share buyback program on Wednesday, August 5th that permits the company to repurchase $3 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 4.8% of its stock through open market purchases. Share repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

MetLife News Roundup

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: MetLife reported adjusted earnings of $2.78 per share, just above the $2.77 consensus estimate and up from $2.34 a year earlier. MarketBeat earnings results
• Positive Sentiment: Revenue was $19.91 billion, slightly above the $19.86 billion expected and 18.2% higher year over year, pointing to solid top-line growth. MetLife Q3 sales
• Neutral Sentiment: The company also released its third-quarter results and earnings-call presentation, but the supplied reports do not provide additional outlook or guidance details that would clarify the next growth drivers. MetLife financial results announcement

MetLife Company Profile

MetLife, Inc (NYSE: MET) is a global financial services company that provides insurance, retirement, and employee benefits solutions to individuals, employers, and institutions. Its offerings include life insurance, dental and vision coverage, accident and disability insurance, annuities, retirement savings products, and related financial services.

Through its institutional and workplace businesses, MetLife helps employers provide benefits and retirement programs to their employees. The company also serves individual customers with protection and income products.