MetLife Inc. (MET) Position Reduced by Prudential Financial Inc.
Prudential Financial Inc. decreased its position in MetLife Inc. (NYSE:MET) by 43.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,646,489 shares of the company’s stock after selling 2,030,347 shares during the period. Prudential Financial Inc.’s holdings in MetLife were worth $117,584,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of MET. First Republic Investment Management Inc. boosted its position in MetLife by 36.1% in the first quarter. First Republic Investment Management Inc. now owns 68,830 shares of the company’s stock worth $3,024,000 after buying an additional 18,275 shares during the last quarter. Fulton Bank N.A. purchased a new position in MetLife during the second quarter worth approximately $219,000. Park National Corp OH boosted its position in MetLife by 7.9% in the second quarter. Park National Corp OH now owns 7,317 shares of the company’s stock worth $292,000 after buying an additional 536 shares during the last quarter. Carl Domino Inc boosted its position in MetLife by 197.1% in the second quarter. Carl Domino Inc now owns 20,025 shares of the company’s stock worth $798,000 after buying an additional 13,285 shares during the last quarter. Finally, Osborn Rohs Williams & Donohoe Ltd boosted its position in MetLife by 15.2% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 6,053 shares of the company’s stock worth $241,000 after buying an additional 800 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.
MetLife Inc. (NYSE:MET) opened at 54.19 on Wednesday. The company has a 50-day moving average of $49.69 and a 200-day moving average of $44.47. The company has a market cap of $59.56 billion, a price-to-earnings ratio of 16.65 and a beta of 1.66. MetLife Inc. has a 12 month low of $35.00 and a 12 month high of $55.49.
MetLife (NYSE:MET) last issued its earnings results on Wednesday, November 2nd. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.24 by $0.04. The firm earned $17.70 billion during the quarter, compared to analysts’ expectations of $17.03 billion. MetLife had a return on equity of 6.99% and a net margin of 5.58%. MetLife’s quarterly revenue was down 99.9% compared to the same quarter last year. During the same period last year, the business earned $0.62 earnings per share. Analysts predict that MetLife Inc. will post $4.63 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Monday, November 7th will be given a $0.40 dividend. The ex-dividend date is Thursday, November 3rd. This represents a $1.60 annualized dividend and a yield of 2.95%. MetLife’s dividend payout ratio (DPR) is currently 49.23%.
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MET has been the topic of a number of recent research reports. TheStreet cut shares of MetLife from a “buy” rating to a “hold” rating in a research report on Wednesday, August 24th. FBR & Co upped their price target on shares of MetLife from $51.00 to $54.00 and gave the company an “outperform” rating in a report on Monday, August 29th. Argus reaffirmed a “buy” rating and issued a $54.00 price target on shares of MetLife in a report on Wednesday, September 7th. Wells Fargo & Co. reaffirmed an “outperform” rating on shares of MetLife in a report on Friday, September 23rd. Finally, Credit Suisse Group AG started coverage on shares of MetLife in a report on Friday, October 7th. They issued a “neutral” rating and a $51.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $51.35.
In related news, EVP Maria R. Morris sold 8,800 shares of the firm’s stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $45.00, for a total value of $396,000.00. Following the completion of the transaction, the executive vice president now directly owns 116,409 shares of the company’s stock, valued at $5,238,405. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Maria R. Morris sold 2,200 shares of the firm’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $47.33, for a total value of $104,126.00. Following the completion of the transaction, the executive vice president now directly owns 109,809 shares of the company’s stock, valued at $5,197,259.97. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate insiders.
MetLife, Inc (MetLife) is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include Retail; Group, Voluntary & Worksite Benefits; Corporate Benefit Funding; Latin America (collectively, the Americas); Asia, and Europe, the Middle East and Africa (EMEA).
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