Private Wealth Partners LLC Sells 1,600 Shares of MetLife, Inc. (MET)
Private Wealth Partners LLC reduced its position in shares of MetLife, Inc. (NYSE:MET) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,300 shares of the financial services provider’s stock after selling 1,600 shares during the period. Private Wealth Partners LLC’s holdings in MetLife were worth $3,496,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Farmers National Bank acquired a new position in shares of MetLife during the second quarter worth about $118,000. Cable Hill Partners LLC boosted its position in shares of MetLife by 246.6% during the third quarter. Cable Hill Partners LLC now owns 2,412 shares of the financial services provider’s stock worth $125,000 after buying an additional 1,716 shares during the period. Westside Investment Management Inc. boosted its position in shares of MetLife by 583.8% during the first quarter. Westside Investment Management Inc. now owns 2,694 shares of the financial services provider’s stock worth $140,000 after buying an additional 2,300 shares during the period. Parallel Advisors LLC boosted its position in shares of MetLife by 50.7% during the first quarter. Parallel Advisors LLC now owns 2,748 shares of the financial services provider’s stock worth $143,000 after buying an additional 924 shares during the period. Finally, First Mercantile Trust Co. boosted its position in shares of MetLife by 3.4% during the second quarter. First Mercantile Trust Co. now owns 2,926 shares of the financial services provider’s stock worth $161,000 after buying an additional 97 shares during the period. 74.00% of the stock is owned by institutional investors.
Shares of MetLife, Inc. (MET) traded down $0.61 during midday trading on Monday, hitting $52.20. The stock had a trading volume of 4,853,100 shares, compared to its average volume of 5,886,190. The company has a market capitalization of $55,070.00, 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 one year low of $44.26 and a one year high of $55.91.
MetLife (NYSE:MET) last announced its earnings results on Wednesday, November 1st. The financial services provider reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.19. The company had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.47 billion. MetLife had a return on equity of 5.60% and a net margin of 5.54%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.28 earnings per share. research analysts predict that MetLife, Inc. will post 4.43 earnings per share for the current fiscal year.
MetLife declared that its board has approved a share buyback program on Wednesday, November 1st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The company 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 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 (DPR) is currently 347.83%.
Several research analysts have recently weighed in on the company. Langen Mcalenn reaffirmed a “buy” rating on shares of MetLife in a research report on Wednesday, August 16th. B. Riley reaffirmed a “neutral” rating on shares of MetLife in a research report on Monday, November 6th. Sandler O’Neill cut MetLife from a “buy” rating to a “hold” rating in a research report on Friday. Keefe, Bruyette & Woods reissued a “buy” rating and set a $59.00 price target on shares of MetLife in a research report on Thursday, August 3rd. Finally, ValuEngine raised MetLife from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 11th. 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’s stock. The stock currently has an average rating of “Buy” and an average target price of $58.40.
In other news, insider Christopher G. Townsend sold 55,712 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was 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 $1,367,076.49. The sale was disclosed in a filing with the SEC, which is available 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 stock was sold at an average price of $54.60, for a total value 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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