MetLife, Inc. (MET) Shares Sold by OLD Republic International Corp
OLD Republic International Corp trimmed its holdings in shares of MetLife, Inc. (NYSE:MET) by 19.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 466,400 shares of the financial services provider’s stock after selling 116,000 shares during the period. OLD Republic International Corp’s holdings in MetLife were worth $24,229,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in MET. Farmers National Bank bought a new position in shares of MetLife in the second quarter worth about $118,000. Cable Hill Partners LLC grew its holdings in MetLife by 246.6% during the third quarter. Cable Hill Partners LLC now owns 2,412 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 1,716 shares during the period. Westside Investment Management Inc. boosted its holdings in shares of MetLife by 583.8% in the first quarter. Westside Investment Management Inc. now owns 2,694 shares of the financial services provider’s stock valued at $140,000 after buying an additional 2,300 shares during the period. Parallel Advisors LLC lifted its position in shares of MetLife by 50.7% in the first 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 in the last quarter. Finally, First Mercantile Trust Co. lifted its position in shares of MetLife by 3.4% in the second 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 in the last quarter. 73.79% of the stock is owned by institutional investors.
Shares of MetLife, Inc. (NYSE MET) traded down $0.25 during trading on Monday, hitting $54.38. The stock had a trading volume of 296,154 shares, compared to its average volume of 3,815,193. MetLife, Inc. has a 12-month low of $41.82 and a 12-month high of $55.91. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.29. The stock has a market cap of $57,596.41, a PE ratio of 10.51, a price-to-earnings-growth ratio of 1.41 and a beta of 1.51.
MetLife (NYSE:MET) last issued its quarterly earnings results 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. 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 during the quarter, compared to analyst estimates of $15.47 billion. During the same period last year, the company earned $1.28 EPS. MetLife’s quarterly revenue was up 1.7% compared to the same quarter last year. equities analysts expect that MetLife, Inc. will post 4.31 EPS for the current year.
The business also recently announced 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 is Friday, November 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.94%. MetLife’s payout ratio is -320.00%.
MetLife declared that its Board of Directors has approved a share repurchase 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 buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Several equities analysts have commented on the stock. TheStreet downgraded shares of MetLife from a “b-” rating to a “c+” rating in a report on Monday, August 21st. Goldman Sachs Group, Inc. (The) initiated coverage on shares of MetLife in a research note on Wednesday, October 18th. They set a “conviction-buy” rating and a $61.00 price objective on the stock. BidaskClub cut shares of MetLife from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Wells Fargo & Company reissued an “outperform” rating and issued a $63.00 target price (up previously from $61.00) on shares of MetLife in a report on Wednesday, July 12th. Finally, ValuEngine upgraded shares of MetLife from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $57.95.
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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