Confluence Wealth Management LLC Has $511,000 Position in MetLife, Inc. (MET)
Confluence Wealth Management LLC reduced its position in shares of MetLife, Inc. (NYSE:MET) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,483 shares of the company’s stock after selling 95 shares during the period. Confluence Wealth Management LLC’s holdings in MetLife were worth $511,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its stake in MetLife by 2.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 29,549,210 shares of the company’s stock worth $1,312,871,000 after buying an additional 604,319 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in MetLife by 6.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 28,238,925 shares of the company’s stock worth $1,124,756,000 after buying an additional 1,684,097 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in MetLife by 2.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 27,859,234 shares of the company’s stock worth $1,109,633,000 after buying an additional 544,848 shares during the last quarter. BlackRock Fund Advisors raised its stake in MetLife by 4.4% in the third quarter. BlackRock Fund Advisors now owns 12,284,048 shares of the company’s stock worth $545,780,000 after buying an additional 519,902 shares during the last quarter. Finally, BlackRock Group LTD raised its stake in MetLife by 0.9% in the third quarter. BlackRock Group LTD now owns 10,580,739 shares of the company’s stock worth $470,103,000 after buying an additional 92,266 shares during the last quarter. 74.92% of the stock is owned by institutional investors and hedge funds.
Shares of MetLife, Inc. (NYSE:MET) opened at 53.65 on Friday. MetLife, Inc. has a 12 month low of $36.17 and a 12 month high of $58.09. The stock’s 50 day moving average price is $53.82 and its 200 day moving average price is $49.16. The stock has a market capitalization of $58.77 billion, a price-to-earnings ratio of 85.29 and a beta of 1.65.
MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, February 1st. The company reported $1.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.34 by $0.06. MetLife had a net margin of 1.30% and a return on equity of 7.17%. The firm had revenue of $12.08 billion for the quarter, compared to the consensus estimate of $17.34 billion. During the same quarter in the prior year, the firm earned $1.23 earnings per share. The company’s revenue for the quarter was down 29.1% compared to the same quarter last year. Analysts expect that MetLife, Inc. will post $5.33 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 13th. Investors of record on Monday, February 6th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, February 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.98%. MetLife’s dividend payout ratio is presently 262.30%.
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A number of equities research analysts recently commented on MET shares. Zacks Investment Research lowered MetLife from a “hold” rating to a “sell” rating in a research report on Wednesday, October 26th. Argus reissued a “buy” rating and issued a $54.00 price target on shares of MetLife in a research report on Tuesday, November 8th. Deutsche Bank AG reissued a “buy” rating and issued a $65.00 price target on shares of MetLife in a research report on Sunday, February 5th. Standpoint Research lowered MetLife from a “buy” rating to a “hold” rating in a research report on Friday, December 9th. Finally, TheStreet raised MetLife from a “hold” rating to a “buy” rating in a research report on Friday, October 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. MetLife presently has a consensus rating of “Buy” and a consensus target price of $54.73.
In related news, EVP Peter M. Carlson sold 23,636 shares of MetLife stock in a transaction that occurred on Friday, December 23rd. The stock was sold at an average price of $54.32, for a total transaction of $1,283,907.52. Following the sale, the executive vice president now directly owns 39,914 shares in the company, valued at $2,168,128.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Frans Hijkoop sold 14,997 shares of MetLife stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $56.18, for a total value of $842,531.46. Following the sale, the executive vice president now owns 70,560 shares in the company, valued at $3,964,060.80. The disclosure for this sale can be found here. 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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