Bbva Compass Bancshares Inc. grew its stake in shares of Metlife Inc (NYSE:MET) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,973 shares of the financial services provider’s stock after buying an additional 1,953 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Metlife were worth $6,774,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. DnB Asset Management AS lifted its holdings in Metlife by 6.4% in the 2nd quarter. DnB Asset Management AS now owns 109,539 shares of the financial services provider’s stock worth $4,776,000 after purchasing an additional 6,600 shares in the last quarter. IFM Investors Pty Ltd lifted its holdings in Metlife by 43.8% in the 2nd quarter. IFM Investors Pty Ltd now owns 40,145 shares of the financial services provider’s stock worth $1,750,000 after purchasing an additional 12,221 shares in the last quarter. DAVENPORT & Co LLC lifted its holdings in Metlife by 602.7% in the 2nd quarter. DAVENPORT & Co LLC now owns 78,943 shares of the financial services provider’s stock worth $3,442,000 after purchasing an additional 67,708 shares in the last quarter. Farmers Trust Co. purchased a new position in Metlife in the 2nd quarter worth approximately $3,011,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Metlife by 4.2% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 54,948 shares of the financial services provider’s stock worth $2,396,000 after purchasing an additional 2,200 shares in the last quarter. 77.50% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on MET. Wells Fargo & Co set a $60.00 price target on Metlife and gave the stock a “buy” rating in a report on Friday. B. Riley lowered their price target on Metlife from $58.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, July 16th. Zacks Investment Research raised Metlife from a “sell” rating to a “hold” rating in a report on Monday, July 16th. Sandler O’Neill reissued a “hold” rating and issued a $50.00 price target on shares of Metlife in a report on Thursday, August 2nd. Finally, Credit Suisse Group lowered their price target on Metlife from $67.00 to $63.00 and set an “outperform” rating on the stock in a report on Friday, August 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $54.62.
Metlife (NYSE:MET) last issued its quarterly earnings data on Thursday, November 1st. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.11. The business had revenue of $16.40 billion for the quarter, compared to analysts’ expectations of $15.88 billion. Metlife had a return on equity of 9.56% and a net margin of 7.62%. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 EPS. As a group, equities analysts forecast that Metlife Inc will post 5.26 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Tuesday, November 6th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, November 5th. This represents a $1.68 annualized dividend and a dividend yield of 3.85%. Metlife’s dividend payout ratio (DPR) is 37.33%.
In other news, Chairman Steven A. Kandarian sold 42,805 shares of the company’s stock in a transaction that occurred on 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 sale, the chairman now directly owns 559,097 shares of the company’s stock, valued at approximately $26,294,331.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Steven A. Kandarian sold 85,683 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $46.93, for a total value of $4,021,103.19. Following the sale, the chairman now directly owns 585,005 shares in the company, valued at $27,454,284.65. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.
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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