Envestnet Asset Management Inc. Has $9.34 Million Stake in MetLife, Inc. (MET)
Envestnet Asset Management Inc. lessened its position in MetLife, Inc. (NYSE:MET) by 30.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 179,670 shares of the financial services provider’s stock after selling 78,838 shares during the period. Envestnet Asset Management Inc.’s holdings in MetLife were worth $9,337,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of MET. Prudential Financial Inc. lifted its position in MetLife by 71.4% during the second quarter. Prudential Financial Inc. now owns 3,672,729 shares of the financial services provider’s stock valued at $201,778,000 after purchasing an additional 1,529,570 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in MetLife by 5.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 3,555,656 shares of the financial services provider’s stock valued at $195,348,000 after buying an additional 175,311 shares during the last quarter. PGGM Investments increased its holdings in MetLife by 2.3% during the third quarter. PGGM Investments now owns 576,944 shares of the financial services provider’s stock valued at $29,972,000 after buying an additional 12,978 shares during the last quarter. KBC Group NV increased its holdings in MetLife by 14.3% during the second quarter. KBC Group NV now owns 1,263,802 shares of the financial services provider’s stock valued at $69,433,000 after buying an additional 157,734 shares during the last quarter. Finally, Rockefeller Financial Services Inc. increased its holdings in MetLife by 189.7% during the third quarter. Rockefeller Financial Services Inc. now owns 37,153 shares of the financial services provider’s stock valued at $1,930,000 after buying an additional 24,330 shares during the last quarter. Hedge funds and other institutional investors own 76.37% of the company’s stock.
MET has been the subject of a number of research reports. TheStreet cut shares of MetLife from a “b-” rating to a “c+” rating in a report on Monday, August 21st. Goldman Sachs Group initiated coverage on shares of MetLife in a report on Wednesday, October 18th. They set a “conviction-buy” rating and a $61.00 target price for the company. ValuEngine cut shares of MetLife from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 9th. Zacks Investment Research raised shares of MetLife from a “strong sell” rating to a “hold” rating in a report on Monday, October 9th. Finally, UBS reaffirmed a “neutral” rating and set a $49.00 target price (down from $57.00) on shares of MetLife in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $58.40.
In related news, 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 transaction of $4,517,112.60. Following the completion of the transaction, the insider now directly owns 49,660 shares of the company’s stock, valued at $2,711,436. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher G. Townsend sold 55,712 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $54.29, for a total transaction of $3,024,604.48. Following the transaction, the insider now directly owns 25,181 shares of the company’s stock, valued at $1,367,076.49. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.
Shares of MetLife, Inc. (NYSE:MET) traded down $0.04 during midday trading on Thursday, hitting $53.00. 3,500,300 shares of the stock were exchanged, compared to its average volume of 5,728,484. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $55,813.94, a PE ratio of 10.20, a PEG ratio of 1.33 and a beta of 1.49. MetLife, Inc. has a 1 year low of $44.26 and a 1 year high of $55.91.
MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.19. The firm had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.47 billion. MetLife had a negative net margin of 0.75% and a positive return on equity of 8.81%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.28 earnings per share. sell-side analysts expect that MetLife, Inc. will post 4.43 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Monday, November 6th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.02%. MetLife’s dividend payout ratio (DPR) is presently -320.00%.
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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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