Argyle Capital Management Inc. Lowers Stake in Metlife Inc (NYSE:MET)

Argyle Capital Management Inc. cut its holdings in Metlife Inc (NYSE:MET) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,325 shares of the financial services provider’s stock after selling 700 shares during the quarter. Argyle Capital Management Inc.’s holdings in Metlife were worth $2,616,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Resources Management Corp CT ADV purchased a new stake in Metlife in the third quarter worth about $26,000. Venturi Wealth Management LLC purchased a new stake in Metlife in the third quarter worth about $37,000. Quest Capital Management Inc. ADV purchased a new stake in Metlife in the third quarter worth about $47,000. Allworth Financial LP lifted its stake in Metlife by 37.9% in the third quarter. Allworth Financial LP now owns 1,095 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 301 shares during the period. Finally, Savior LLC purchased a new stake in Metlife in the fourth quarter worth about $53,000. 74.47% of the stock is owned by institutional investors.

Shares of MET stock traded down $0.56 during mid-day trading on Friday, hitting $51.24. 826,988 shares of the stock traded hands, compared to its average volume of 4,555,989. The stock has a market cap of $47.73 billion, a P/E ratio of 6.82, a P/E/G ratio of 1.00 and a beta of 1.13. The stock’s fifty day moving average is $51.15 and its two-hundred day moving average is $48.42. Metlife Inc has a 52-week low of $41.41 and a 52-week high of $52.76. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.15 and a quick ratio of 0.15.

Metlife (NYSE:MET) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $1.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by ($0.13). Metlife had a net margin of 10.82% and a return on equity of 8.82%. The firm had revenue of $16.92 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same period in the previous year, the company posted $1.38 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, equities analysts forecast that Metlife Inc will post 5.53 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, February 4th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $1.76 annualized dividend and a dividend yield of 3.43%. Metlife’s dividend payout ratio (DPR) is currently 32.65%.

Several analysts have commented on MET shares. B. Riley reissued a “neutral” rating on shares of Metlife in a research report on Tuesday, October 15th. ValuEngine raised shares of Metlife from a “strong sell” rating to a “sell” rating in a research report on Saturday, December 21st. UBS Group increased their price target on shares of Metlife from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Zacks Investment Research raised shares of Metlife from a “sell” rating to a “hold” rating and set a $52.00 price target for the company in a research report on Monday, December 9th. Finally, Morgan Stanley raised shares of Metlife from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $55.00 to $60.00 in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Metlife presently has a consensus rating of “Hold” and a consensus price target of $51.13.

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.

Further Reading: Are sell-side analysts objective?

Institutional Ownership by Quarter for Metlife (NYSE:MET)

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