Highland Capital Management LLC cut its stake in shares of MetLife Inc. (NYSE:MET) by 41.8% during the third quarter, Holdings Channel reports. The firm owned 141,133 shares of the company’s stock after selling 101,433 shares during the period. Highland Capital Management LLC’s holdings in MetLife were worth $6,271,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Dodge & Cox raised its position in shares of MetLife by 26.4% in the second quarter. Dodge & Cox now owns 39,133,326 shares of the company’s stock valued at $1,558,680,000 after buying an additional 8,185,247 shares during the period. JPMorgan Chase & Co. raised its position in shares of MetLife by 10.1% in the second quarter. JPMorgan Chase & Co. now owns 38,433,688 shares of the company’s stock valued at $1,530,815,000 after buying an additional 3,530,969 shares during the period. Emerald Acquisition Ltd. acquired a new position in shares of MetLife during the second quarter valued at approximately $123,072,000. Bank of Montreal Can acquired a new position in shares of MetLife during the second quarter valued at approximately $114,322,000. Finally, Massachusetts Financial Services Co. MA raised its position in shares of MetLife by 6.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 28,238,925 shares of the company’s stock valued at $1,124,756,000 after buying an additional 1,684,097 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for MetLife (NYSE:MET)

MetLife Inc. (NYSE:MET) traded down 0.15% on Tuesday, reaching $54.30. The company had a trading volume of 2,857,487 shares. MetLife Inc. has a 12 month low of $35.00 and a 12 month high of $55.49. The firm has a market capitalization of $59.68 billion, a PE ratio of 16.68 and a beta of 1.66. The stock has a 50 day moving average of $49.69 and a 200 day moving average of $44.47.

MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $1.28 EPS for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.04. The company had revenue of $17.70 billion for 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%. The firm’s quarterly revenue was down 99.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 earnings per share. On average, analysts anticipate that MetLife Inc. will post $4.63 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 13th. Shareholders of record on Monday, November 7th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Thursday, November 3rd. MetLife’s dividend payout ratio is presently 49.23%.

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Several equities analysts have recently commented on MET shares. Wells Fargo & Co. reaffirmed an “outperform” rating on shares of MetLife in a research note on Friday, September 23rd. TheStreet lowered MetLife from a “buy” rating to a “hold” rating in a research note on Wednesday, August 24th. Argus reissued a “buy” rating and set a $54.00 target price on shares of MetLife in a research note on Wednesday, September 7th. FBR & Co increased their target price on MetLife from $51.00 to $54.00 and gave the stock an “outperform” rating in a research note on Monday, August 29th. Finally, Zacks Investment Research lowered MetLife from a “hold” rating to a “sell” rating in a research note on Wednesday, October 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. MetLife has an average rating of “Buy” and an average price target of $51.35.

In other MetLife news, EVP Maria R. Morris sold 2,200 shares of the business’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $47.33, for a total transaction of $104,126.00. Following the transaction, the executive vice president now owns 109,809 shares in the company, valued at $5,197,259.97. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Frans Hijkoop sold 56,250 shares of the business’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $51.48, for a total value of $2,895,750.00. Following the transaction, the executive vice president now owns 111,813 shares in the company, valued at approximately $5,756,133.24. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

About MetLife

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).

5 Day Chart for NYSE:MET

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