MetLife, Inc. (MET) Holdings Reduced by Fiduciary Trust Co.
Fiduciary Trust Co. trimmed its holdings in shares of MetLife, Inc. (NYSE:MET) by 9.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,975 shares of the financial services provider’s stock after selling 1,102 shares during the period. Fiduciary Trust Co.’s holdings in MetLife were worth $570,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of MetLife by 2.2% during the 2nd quarter. BlackRock Inc. now owns 69,957,359 shares of the financial services provider’s stock valued at $3,843,457,000 after buying an additional 1,481,489 shares during the period. Vanguard Group Inc. lifted its holdings in shares of MetLife by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 66,723,143 shares of the financial services provider’s stock valued at $3,665,769,000 after buying an additional 1,358,523 shares during the period. State Street Corp lifted its holdings in shares of MetLife by 1.4% during the 1st quarter. State Street Corp now owns 49,020,964 shares of the financial services provider’s stock valued at $2,589,297,000 after buying an additional 680,903 shares during the period. Franklin Resources Inc. lifted its holdings in shares of MetLife by 1.6% during the 2nd quarter. Franklin Resources Inc. now owns 25,704,204 shares of the financial services provider’s stock valued at $1,412,189,000 after buying an additional 414,032 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of MetLife by 6.9% during the 1st quarter. Geode Capital Management LLC now owns 10,265,096 shares of the financial services provider’s stock valued at $541,427,000 after buying an additional 664,918 shares during the period. Institutional investors and hedge funds own 73.79% of the company’s stock.
Several research firms have 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. Zacks Investment Research raised MetLife from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Thursday. B. Riley reissued a “neutral” rating on shares of MetLife in a report on Monday, November 6th. Finally, Argus increased their price target on MetLife from $55.00 to $60.00 and gave the company a “buy” rating in a report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $58.40.
In other news, insider Christopher G. Townsend sold 82,731 shares of the firm’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 completion of the transaction, the insider now owns 49,660 shares in the company, valued at $2,711,436. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christopher G. Townsend sold 55,712 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 25,181 shares of the company’s stock, valued at approximately $1,367,076.49. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.
Shares of MetLife, Inc. (NYSE MET) opened at $52.20 on Friday. 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 company has a market capitalization of $55,571.91, a PE ratio of 10.16, a price-to-earnings-growth ratio of 1.33 and a beta of 1.51. MetLife, Inc. has a twelve month low of $44.26 and a twelve month high of $55.91.
MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $1.09 EPS for the quarter, beating the Zacks’ 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 business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the firm earned $1.28 earnings per share. equities research analysts predict that MetLife, Inc. will post 4.43 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Monday, November 6th will be issued a dividend of $0.40 per share. 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 declared that its Board of Directors has authorized a share buyback plan on Wednesday, November 1st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
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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