GWM Advisors LLC Acquires 3,700 Shares of Metlife Inc (MET)

GWM Advisors LLC raised its holdings in shares of Metlife Inc (NYSE:MET) by 59.9% in the 3rd quarter, Holdings Channel reports. The firm owned 9,878 shares of the financial services provider’s stock after purchasing an additional 3,700 shares during the quarter. GWM Advisors LLC’s holdings in Metlife were worth $462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in MET. FMR LLC increased its stake in Metlife by 9.2% during the second quarter. FMR LLC now owns 46,737,949 shares of the financial services provider’s stock valued at $2,037,775,000 after purchasing an additional 3,921,155 shares during the last quarter. Pzena Investment Management LLC increased its stake in Metlife by 39.3% during the second quarter. Pzena Investment Management LLC now owns 8,314,788 shares of the financial services provider’s stock valued at $362,525,000 after purchasing an additional 2,346,866 shares during the last quarter. Morgan Stanley increased its stake in Metlife by 12.3% during the second quarter. Morgan Stanley now owns 6,357,267 shares of the financial services provider’s stock valued at $277,177,000 after purchasing an additional 696,768 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Metlife by 200.8% during the second quarter. Robeco Institutional Asset Management B.V. now owns 920,727 shares of the financial services provider’s stock valued at $40,146,000 after purchasing an additional 614,667 shares during the last quarter. Finally, Royal London Asset Management Ltd. bought a new stake in Metlife during the second quarter valued at $21,849,000. Hedge funds and other institutional investors own 77.50% of the company’s stock.

Several analysts have weighed in on MET shares. UBS Group boosted their target price on shares of Metlife from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, October 8th. Wells Fargo & Co restated a “buy” rating and set a $60.00 price target on shares of Metlife in a research report on Thursday, September 27th. Zacks Investment Research lowered shares of Metlife from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Morgan Stanley lowered their price target on shares of Metlife from $53.00 to $52.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 11th. Finally, Barclays lowered their price target on shares of Metlife from $60.00 to $57.00 and set an “overweight” rating for the company in a research report on Monday, July 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. Metlife currently has an average rating of “Hold” and an average target price of $54.62.

In related news, Chairman Steven A. Kandarian sold 85,683 shares of the company’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $46.93, for a total value of $4,021,103.19. Following the completion of the sale, the chairman now owns 585,005 shares of the company’s stock, valued at $27,454,284.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steven A. Kandarian sold 42,805 shares of the company’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $47.03, for a total transaction of $2,013,119.15. Following the completion of the sale, the chairman now directly owns 559,097 shares of the company’s stock, valued at approximately $26,294,331.91. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Metlife stock opened at $43.60 on Friday. The stock has a market cap of $43.37 billion, a PE ratio of 9.69, a PEG ratio of 0.67 and a beta of 1.30. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.15 and a quick ratio of 0.15. Metlife Inc has a one year low of $39.31 and a one year high of $55.38.

Metlife (NYSE:MET) last released its quarterly earnings results on Thursday, November 1st. The financial services provider reported $1.38 EPS for the quarter, topping the consensus estimate of $1.27 by $0.11. The business had revenue of $16.40 billion during the quarter, compared to analyst estimates of $15.88 billion. Metlife had a net margin of 7.62% and a return on equity of 9.56%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.09 earnings per share. Equities research analysts predict that Metlife Inc will post 5.26 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Tuesday, November 6th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.85%. The ex-dividend date is Monday, November 5th. Metlife’s payout ratio is currently 37.33%.

About Metlife

MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short- and long-term disability, individual disability, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.

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Institutional Ownership by Quarter for Metlife (NYSE:MET)

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