Janney Montgomery Scott LLC Sells 57,013 Shares of MetLife Inc. (MET)
Janney Montgomery Scott LLC decreased its position in MetLife Inc. (NYSE:MET) by 21.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 208,444 shares of the company’s stock after selling 57,013 shares during the period. Janney Montgomery Scott LLC’s holdings in MetLife were worth $10,049,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in shares of MetLife during the second quarter valued at approximately $110,000. ClariVest Asset Management LLC raised its position in shares of MetLife by 0.3% in the second quarter. ClariVest Asset Management LLC now owns 2,806 shares of the company’s stock valued at $112,000 after buying an additional 8 shares in the last quarter. Manchester Capital Management LLC raised its position in shares of MetLife by 0.3% in the second quarter. Manchester Capital Management LLC now owns 2,891 shares of the company’s stock valued at $115,000 after buying an additional 9 shares in the last quarter. First New York Securities LLC NY bought a new position in shares of MetLife during the second quarter valued at approximately $119,000. Finally, Independent Portfolio Consultants Inc. raised its position in shares of MetLife by 21.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 3,355 shares of the company’s stock valued at $134,000 after buying an additional 595 shares in the last quarter. Hedge funds and other institutional investors own 74.80% of the company’s stock.
Shares of MetLife Inc. (NYSE:MET) traded up 0.123% on Friday, hitting $44.655. The stock had a trading volume of 4,689,101 shares. The firm has a market cap of $49.07 billion, a P/E ratio of 11.736 and a beta of 1.87. MetLife Inc. has a 12-month low of $35.00 and a 12-month high of $52.45. The company’s 50-day moving average price is $42.20 and its 200 day moving average price is $42.99.
MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.35 by $0.52. MetLife had a net margin of 6.49% and a return on equity of 6.18%. The company had revenue of $17 billion for the quarter, compared to analyst estimates of $17.35 billion. During the same quarter in the prior year, the firm earned $1.56 EPS. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, equities research analysts forecast that MetLife Inc. will post $4.65 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Monday, August 8th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, August 4th. This represents a $1.60 dividend on an annualized basis and a yield of 3.59%. MetLife’s dividend payout ratio is currently 42.11%.
Several brokerages have commented on MET. Wells Fargo & Co. reiterated an “outperform” rating on shares of MetLife in a research note on Friday. Zacks Investment Research upgraded shares of MetLife from a “sell” rating to a “hold” rating in a research note on Thursday, July 7th. Argus reiterated a “buy” rating and issued a $54.00 price target on shares of MetLife in a research note on Wednesday, September 7th. Deutsche Bank AG lowered shares of MetLife from a “buy” rating to a “hold” rating and dropped their price target for the company from $47.00 to $44.00 in a research note on Wednesday, July 13th. Finally, Citigroup Inc. dropped their price target on shares of MetLife from $46.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday, July 7th. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. MetLife currently has a consensus rating of “Buy” and an average price target of $52.45.
In related news, EVP Maria R. Morris sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $42.96, for a total transaction of $85,920.00. Following the completion of the transaction, the executive vice president now owns 109,273 shares in the company, valued at approximately $4,694,368.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.27% of the company’s stock.
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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