MetLife, Inc. (MET) Position Raised by Commerce Bank
Commerce Bank increased its position in shares of MetLife, Inc. (NYSE:MET) by 1,310.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 422,363 shares of the financial services provider’s stock after purchasing an additional 392,424 shares during the quarter. Commerce Bank’s holdings in MetLife were worth $21,942,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in MET. Farmers National Bank acquired a new stake in shares of MetLife during the 2nd quarter worth about $118,000. Cable Hill Partners LLC increased its position in MetLife by 246.6% in the 3rd quarter. Cable Hill Partners LLC now owns 2,412 shares of the financial services provider’s stock valued at $125,000 after acquiring an additional 1,716 shares in the last quarter. Parallel Advisors LLC increased its position in MetLife by 50.7% in the 1st quarter. Parallel Advisors LLC now owns 2,748 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 924 shares in the last quarter. First Mercantile Trust Co. increased its position in MetLife by 3.4% in the 2nd quarter. First Mercantile Trust Co. now owns 2,926 shares of the financial services provider’s stock valued at $161,000 after acquiring an additional 97 shares in the last quarter. Finally, Carroll Financial Associates Inc. increased its position in MetLife by 5.8% in the 2nd quarter. Carroll Financial Associates Inc. now owns 3,013 shares of the financial services provider’s stock valued at $165,000 after acquiring an additional 166 shares in the last quarter. Institutional investors and hedge funds own 74.00% of the company’s stock.
In other MetLife news, insider Christopher G. Townsend sold 55,712 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $54.29, for a total transaction of $3,024,604.48. Following the sale, the insider now directly owns 25,181 shares in the company, valued at approximately $1,367,076.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher G. Townsend sold 82,731 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $54.60, for a total transaction of $4,517,112.60. Following the sale, the insider now owns 49,660 shares in the company, valued at $2,711,436. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.
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MetLife, Inc. (MET) traded down $0.06 during trading on Thursday, reaching $51.79. 1,038,012 shares of the company traded hands, compared to its average volume of 5,849,833. MetLife, Inc. has a twelve month low of $44.26 and a twelve month high of $55.91. The company has a market cap of $54,550.00, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 1.31 and a beta of 1.51. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.31.
MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.19. MetLife had a negative net margin of 0.75% and a positive return on equity of 8.81%. The business had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.47 billion. During the same quarter last year, the firm earned $1.28 EPS. MetLife’s quarterly revenue was up 1.7% compared to the same quarter last year. research analysts anticipate that MetLife, Inc. will post 4.43 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Monday, November 6th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $1.60 annualized dividend and a yield of 3.09%. MetLife’s dividend payout ratio (DPR) is currently 347.83%.
MetLife announced that its Board of Directors has approved a stock repurchase program on Wednesday, November 1st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.
Several equities research analysts have weighed in on the stock. Sandler O’Neill cut shares of MetLife from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. ValuEngine cut shares of MetLife from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. Zacks Investment Research upgraded shares of MetLife from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Thursday, November 9th. B. Riley restated a “neutral” rating on shares of MetLife in a research report on Monday, November 6th. Finally, Argus raised their price objective on shares of MetLife from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $58.40.
MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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