Teachers Retirement System of The State of Kentucky Grows Stake in MetLife, Inc. (MET)
Teachers Retirement System of The State of Kentucky grew its position in MetLife, Inc. (NYSE:MET) by 8.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 517,612 shares of the financial services provider’s stock after buying an additional 41,500 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in MetLife were worth $26,890,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Farmers National Bank acquired a new stake in shares of MetLife in the 2nd quarter valued at $118,000. Cable Hill Partners LLC grew its stake 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 purchasing an additional 1,716 shares during the period. First Mercantile Trust Co. grew its stake 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 purchasing an additional 97 shares during the period. Parallel Advisors LLC grew its stake in shares of MetLife by 8.1% during the second quarter. Parallel Advisors LLC now owns 2,970 shares of the financial services provider’s stock worth $163,000 after purchasing an additional 222 shares during the period. Finally, Carroll Financial Associates Inc. grew its stake in shares of MetLife by 5.8% during the second 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. 75.85% of the stock is owned by institutional investors.
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MetLife, Inc. (NYSE MET) traded up $0.23 during trading hours on Friday, reaching $51.94. The company’s stock had a trading volume of 573,593 shares, compared to its average volume of 5,786,647. MetLife, Inc. has a 1 year low of $44.26 and a 1 year 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 0.31. The firm has a market capitalization of $54,414.38, a PE ratio of 9.94, a price-to-earnings-growth ratio of 1.30 and a beta of 1.51.
MetLife (NYSE:MET) last posted its earnings results on Wednesday, November 1st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.19. The firm had revenue of $16.10 billion during 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 was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.28 earnings per share. equities analysts expect that MetLife, Inc. will post 4.43 earnings per share for the current year.
The company 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 $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 3.08%. MetLife’s dividend payout ratio (DPR) is -320.00%.
A number of brokerages recently commented on MET. Sandler O’Neill cut MetLife from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. ValuEngine cut MetLife from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 9th. Zacks Investment Research raised MetLife from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Thursday, November 9th. B. Riley reaffirmed a “neutral” rating on shares of MetLife in a research note on Monday, November 6th. Finally, Argus lifted their price objective on MetLife from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $58.40.
In other news, insider Christopher G. Townsend sold 55,712 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $54.29, for a total value of $3,024,604.48. Following the sale, the insider now directly 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 accessible through the SEC website. Also, insider Christopher G. Townsend sold 82,731 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $54.60, for a total value of $4,517,112.60. Following the completion of the sale, the insider now owns 49,660 shares in the company, valued at $2,711,436. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.
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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