First National Trust Co. Buys 1,019 Shares of MetLife, Inc. (MET)
First National Trust Co. lifted its stake in MetLife, Inc. (NYSE:MET) by 1.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,661 shares of the financial services provider’s stock after buying an additional 1,019 shares during the quarter. First National Trust Co.’s holdings in MetLife were worth $3,307,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Farmers National Bank purchased a new stake in shares of MetLife in the second quarter worth about $118,000. Cable Hill Partners LLC raised its holdings in MetLife by 246.6% in the 3rd quarter. Cable Hill Partners LLC now owns 2,412 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 1,716 shares during the period. Parallel Advisors LLC raised its holdings in MetLife by 50.7% in the 1st quarter. Parallel Advisors LLC now owns 2,748 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 924 shares during the period. First Mercantile Trust Co. raised its holdings in MetLife by 3.4% in the 2nd quarter. First Mercantile Trust Co. now owns 2,926 shares of the financial services provider’s stock worth $161,000 after purchasing an additional 97 shares during the period. Finally, Carroll Financial Associates Inc. raised its holdings in MetLife by 5.8% in the 2nd quarter. Carroll Financial Associates Inc. now owns 3,013 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 166 shares during the period. Hedge funds and other institutional investors own 74.00% of the company’s stock.
MetLife, Inc. (NYSE MET) traded down $0.04 on Tuesday, hitting $52.16. The stock had a trading volume of 3,263,300 shares, compared to its average volume of 5,874,213. The stock has a market capitalization of $54,930.01, a price-to-earnings ratio of 10.04, a P/E/G ratio of 1.31 and a beta of 1.51. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.16. 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, beating the consensus estimate of $0.90 by $0.19. The business had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.47 billion. MetLife had a positive return on equity of 8.81% and a negative net margin of 0.75%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the firm earned $1.28 earnings per share. research analysts expect that MetLife, Inc. will post 4.43 earnings per share for the current year.
MetLife announced that its board has approved a share buyback program on Wednesday, November 1st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
The business 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. This represents a $1.60 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Friday, November 3rd. MetLife’s payout ratio is currently -320.00%.
In other MetLife news, insider Christopher G. Townsend sold 82,731 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $54.60, for a total value of $4,517,112.60. Following the sale, the insider now directly owns 49,660 shares in the company, valued at $2,711,436. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $3,024,604.48. Following the completion of the sale, the insider now owns 25,181 shares in the company, valued at $1,367,076.49. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.
A number of research firms recently weighed in on MET. Sandler O’Neill cut MetLife from a “buy” rating to a “hold” rating in a report on Friday. ValuEngine cut MetLife from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 9th. Zacks Investment Research raised MetLife from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Thursday, November 9th. B. Riley reaffirmed a “neutral” rating on shares of MetLife in a report on Monday, November 6th. Finally, Argus upped their price target on MetLife from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, November 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $58.40.
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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