MetLife Inc. (MET) Shares Sold by Ngam Advisors L.P.
Ngam Advisors L.P. decreased its stake in MetLife Inc. (NYSE:MET) by 15.0% during the third quarter, Holdings Channel reports. The fund owned 335,059 shares of the company’s stock after selling 59,270 shares during the period. Ngam Advisors L.P.’s holdings in MetLife were worth $14,886,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Dodge & Cox boosted its stake 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 last quarter. JPMorgan Chase & Co. boosted its stake 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 last quarter. Emerald Acquisition Ltd. bought a new stake in shares of MetLife during the second quarter valued at $123,072,000. Bank of Montreal Can bought a new stake in shares of MetLife during the second quarter valued at $114,322,000. Finally, Svenska Handelsbanken AB publ boosted its stake in shares of MetLife by 83.7% in the third quarter. Svenska Handelsbanken AB publ now owns 4,545,148 shares of the company’s stock valued at $201,941,000 after buying an additional 2,070,652 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.
MetLife Inc. (NYSE:MET) traded up 0.50% during trading on Tuesday, hitting $54.65. The company had a trading volume of 1,478,669 shares. The firm’s 50 day moving average is $49.69 and its 200-day moving average is $44.47. The stock has a market capitalization of $60.07 billion, a price-to-earnings ratio of 16.79 and a beta of 1.66. MetLife Inc. has a 52-week low of $35.00 and a 52-week high of $55.49.
MetLife (NYSE:MET) last posted its earnings results on Wednesday, November 2nd. The company reported $1.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.04. MetLife had a net margin of 5.58% and a return on equity of 6.99%. The firm earned $17.70 billion during the quarter, compared to the consensus estimate of $17.03 billion. During the same quarter last year, the firm earned $0.62 EPS. The firm’s revenue for the quarter was down 99.9% on a year-over-year basis. On average, equities analysts forecast that MetLife Inc. will post $4.63 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Monday, November 7th will be issued a $0.40 dividend. The ex-dividend date is Thursday, November 3rd. This represents a $1.60 annualized dividend and a yield of 2.94%. MetLife’s dividend payout ratio (DPR) is presently 49.23%.
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A number of research firms have recently commented on MET. Wells Fargo & Co. reaffirmed an “outperform” rating on shares of MetLife in a research note on Friday, September 23rd. TheStreet cut MetLife from a “buy” rating to a “hold” rating in a research note on Wednesday, August 24th. Argus reaffirmed a “buy” rating and set a $54.00 target price on shares of MetLife in a research note on Wednesday, September 7th. FBR & Co upped their target price on MetLife from $51.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, August 29th. Finally, Zacks Investment Research cut MetLife from a “hold” rating to a “sell” rating in a research note on Wednesday, October 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $51.35.
In related news, EVP Frans Hijkoop sold 56,250 shares of MetLife stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $51.48, for a total value of $2,895,750.00. Following the completion of the sale, the executive vice president now owns 111,813 shares in the company, valued at approximately $5,756,133.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Maria R. Morris sold 2,200 shares of MetLife stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $47.33, for a total transaction of $104,126.00. Following the completion of the sale, the executive vice president now owns 109,809 shares of the company’s stock, valued at approximately $5,197,259.97. The disclosure for this sale can be found here. 0.27% of the stock is currently 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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