Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Metlife Inc (NYSE:MET) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,000 shares of the financial services provider’s stock, valued at approximately $85,000.
Several other hedge funds and other institutional investors also recently modified their holdings of MET. JNBA Financial Advisors acquired a new stake in shares of Metlife in the fourth quarter valued at $26,000. Bruderman Asset Management LLC acquired a new stake in shares of Metlife in the fourth quarter valued at $27,000. Berman Capital Advisors LLC acquired a new stake in shares of Metlife in the fourth quarter valued at $31,000. Executive Wealth Management LLC acquired a new stake in shares of Metlife in the fourth quarter valued at $34,000. Finally, Country Trust Bank increased its stake in shares of Metlife by 1,052.6% in the fourth quarter. Country Trust Bank now owns 876 shares of the financial services provider’s stock valued at $36,000 after buying an additional 800 shares in the last quarter. 76.85% of the stock is owned by institutional investors.
MET traded down $0.36 during midday trading on Monday, reaching $45.50. 87,949 shares of the company were exchanged, compared to its average volume of 5,406,563. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.26. Metlife Inc has a one year low of $37.76 and a one year high of $48.92. The stock has a market cap of $43.57 billion, a P/E ratio of 8.46, a price-to-earnings-growth ratio of 0.98 and a beta of 1.18.
In other Metlife news, CFO John D. Mccallion sold 2,669 shares of the firm’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $44.43, for a total transaction of $118,583.67. Following the transaction, the chief financial officer now owns 20,538 shares in the company, valued at $912,503.34. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Steven J. Goulart sold 10,292 shares of the firm’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $44.40, for a total value of $456,964.80. Following the transaction, the executive vice president now owns 93,214 shares in the company, valued at approximately $4,138,701.60. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.
A number of brokerages recently commented on MET. Royal Bank of Canada lowered their price objective on Metlife from $57.00 to $50.00 and set an “outperform” rating for the company in a research report on Monday, December 17th. Sandler O’Neill upgraded Metlife from a “hold” rating to a “buy” rating in a research report on Wednesday, January 2nd. Wells Fargo & Co reiterated a “buy” rating on shares of Metlife in a research report on Tuesday, January 8th. Bank of America upgraded Metlife from a “neutral” rating to a “buy” rating and set a $44.06 price objective for the company in a research report on Wednesday, January 16th. Finally, ValuEngine upgraded Metlife from a “sell” rating to a “hold” rating in a research report on Wednesday, January 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. Metlife has a consensus rating of “Hold” and a consensus target price of $52.76.
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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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