First National Trust Co. Cuts Stake in MetLife Inc. (MET)
First National Trust Co. decreased its stake in MetLife Inc. (NYSE:MET) by 9.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,420 shares of the company’s stock after selling 5,276 shares during the period. First National Trust Co.’s holdings in MetLife were worth $2,128,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the company. Bank of Montreal Can purchased a new stake in MetLife during the second quarter valued at about $114,322,000. Dodge & Cox raised its stake in MetLife by 10.2% in the first quarter. Dodge & Cox now owns 30,948,079 shares of the company’s stock valued at $1,359,859,000 after buying an additional 2,861,828 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in MetLife during the first quarter valued at about $118,571,000. American Century Companies Inc. raised its stake in MetLife by 20.6% in the second quarter. American Century Companies Inc. now owns 8,839,441 shares of the company’s stock valued at $352,075,000 after buying an additional 1,507,242 shares during the last quarter. Finally, Svenska Handelsbanken AB publ raised its stake in MetLife by 143.7% in the second quarter. Svenska Handelsbanken AB publ now owns 2,474,496 shares of the company’s stock valued at $98,559,000 after buying an additional 1,459,096 shares during the last quarter. 74.80% of the stock is currently owned by institutional investors and hedge funds.
Shares of MetLife Inc. (NYSE:MET) traded up 1.76% during mid-day trading on Friday, hitting $44.43. 9,717,801 shares of the stock were exchanged. The stock has a market cap of $48.82 billion, a PE ratio of 11.68 and a beta of 1.87. MetLife Inc. has a one year low of $35.00 and a one year high of $52.45. The company has a 50-day moving average of $42.65 and a 200 day moving average of $43.03.
MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, missing the 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 business earned $17 billion during the quarter, compared to analysts’ expectations of $17.35 billion. During the same period last year, the company earned $1.56 EPS. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, equities analysts predict that MetLife Inc. will post $4.65 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Monday, August 8th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend was Thursday, August 4th. MetLife’s dividend payout ratio (DPR) is presently 42.11%.
Several equities research analysts have recently issued reports on MET shares. Wells Fargo & Co. reissued an “outperform” rating on shares of MetLife in a research note on Friday, September 23rd. Sandler O’Neill raised shares of MetLife from a “hold” rating to a “buy” rating in a research note on Monday, June 27th. TheStreet lowered shares of MetLife from a “buy” rating to a “hold” rating in a research note on Wednesday, August 24th. Argus reissued a “buy” rating and set a $54.00 target price on shares of MetLife in a research note on Wednesday, September 7th. Finally, FBR & Co increased their target price on shares of MetLife from $51.00 to $54.00 and gave the stock an “outperform” rating in a research note on Monday, August 29th. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $52.45.
In other MetLife news, EVP Maria R. Morris sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $42.96, for a total value of $85,920.00. Following the sale, the executive vice president now owns 109,273 shares of the company’s stock, valued at $4,694,368.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is currently owned by company insiders.
MetLife Company Profile
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).
Want to see what other hedge funds are holding MET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MetLife Inc. (NYSE:MET).
Receive News & Ratings for MetLife Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MetLife Inc. and related companies with MarketBeat.com's FREE daily email newsletter.