MetLife, Inc. (MET) Stake Lifted by Toronto Dominion Bank
Toronto Dominion Bank raised its holdings in shares of MetLife, Inc. (NYSE:MET) by 3.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 445,177 shares of the financial services provider’s stock after buying an additional 13,630 shares during the period. Toronto Dominion Bank’s holdings in MetLife were worth $23,130,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of MET. BlackRock Inc. boosted its holdings in MetLife by 3,323.3% during the first quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock worth $3,616,895,000 after buying an additional 66,475,603 shares in the last quarter. Epoch Investment Partners Inc. bought a new stake in MetLife during the second quarter worth approximately $183,290,000. Vanguard Group Inc. boosted its holdings in MetLife by 3.0% during the first quarter. Vanguard Group Inc. now owns 65,364,620 shares of the financial services provider’s stock worth $3,452,559,000 after buying an additional 1,885,246 shares in the last quarter. TD Asset Management Inc. boosted its holdings in MetLife by 47.7% during the second quarter. TD Asset Management Inc. now owns 5,201,238 shares of the financial services provider’s stock worth $285,756,000 after buying an additional 1,679,740 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in MetLife during the first quarter worth approximately $82,954,000. Hedge funds and other institutional investors own 74.00% of the company’s stock.
A number of equities analysts recently commented on the stock. Goldman Sachs Group, Inc. (The) assumed coverage on shares of MetLife in a research note on Wednesday, October 18th. They issued a “conviction-buy” rating and a $61.00 price objective for the company. Langen Mcalenn reaffirmed a “buy” rating on shares of MetLife in a research note on Wednesday, August 16th. B. Riley reaffirmed a “neutral” rating on shares of MetLife in a research note on Monday, November 6th. Wells Fargo & Company reaffirmed a “buy” rating on shares of MetLife in a research note on Monday, August 7th. Finally, BidaskClub raised shares of MetLife from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. 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 assigned a strong buy rating to the company. MetLife has a consensus rating of “Buy” and an average target price of $58.40.
MetLife, Inc. (NYSE MET) traded down $0.04 during trading on Tuesday, hitting $52.16. 3,263,300 shares of the stock were exchanged, compared to its average volume of 5,874,213. The company has a market cap of $54,930.01, a P/E ratio of 10.04, a P/E/G ratio of 1.31 and a beta of 1.51. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.31. MetLife, Inc. has a fifty-two week low of $44.26 and a fifty-two week high of $55.91.
MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.19. The business had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.47 billion. MetLife had a negative net margin of 0.75% and a positive return on equity of 8.81%. MetLife’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.28 EPS. equities research analysts anticipate that MetLife, Inc. will post 4.43 EPS for the current year.
MetLife declared that its board has initiated a share repurchase plan on Wednesday, November 1st that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Monday, November 6th will be issued a dividend of $0.40 per share. 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 3.07%. MetLife’s dividend payout ratio is currently -320.00%.
In other news, 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 owns 25,181 shares in the company, valued at approximately $1,367,076.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the insider now owns 49,660 shares in the company, valued at approximately $2,711,436. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.
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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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