MetLife, Inc. (MET) Shares Sold by ProVise Management Group LLC
ProVise Management Group LLC lowered its stake in shares of MetLife, Inc. (NYSE:MET) by 64.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,392 shares of the financial services provider’s stock after selling 16,816 shares during the quarter. ProVise Management Group LLC’s holdings in MetLife were worth $488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in MET. BlackRock Inc. increased its position in shares of MetLife by 3,323.3% during the first quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock valued at $3,616,895,000 after buying an additional 66,475,603 shares during the period. Epoch Investment Partners Inc. purchased a new position in shares of MetLife during the second quarter valued at about $183,290,000. TD Asset Management Inc. increased its position in shares of MetLife by 47.7% during the second quarter. TD Asset Management Inc. now owns 5,201,238 shares of the financial services provider’s stock valued at $285,756,000 after buying an additional 1,679,740 shares during the period. Renaissance Technologies LLC purchased a new position in shares of MetLife during the first quarter valued at about $82,954,000. Finally, Prudential Financial Inc. increased its position in shares of MetLife by 71.4% during the second quarter. Prudential Financial Inc. now owns 3,672,729 shares of the financial services provider’s stock valued at $201,778,000 after buying an additional 1,529,570 shares during the period. Institutional investors own 75.85% of the company’s stock.
Shares of MetLife, Inc. (MET) traded down $0.01 during midday trading on Wednesday, hitting $51.71. 713,961 shares of the stock traded hands, compared to its average volume of 5,801,032. The company has a market capitalization of $54,687.98, a P/E ratio of 9.99, a PEG ratio of 1.30 and a beta of 1.51. MetLife, Inc. has a 52-week low of $44.26 and a 52-week high of $55.91. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.31.
MetLife (NYSE:MET) last issued its earnings results on Wednesday, November 1st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.19. The firm had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.47 billion. MetLife had a negative net margin of 0.75% and a positive return on equity of 8.81%. The business’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.28 earnings per share. equities research analysts forecast that MetLife, Inc. will post 4.43 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Monday, November 6th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.09%. MetLife’s dividend payout ratio is presently -320.00%.
Several equities analysts recently issued reports on MET shares. Royal Bank Of Canada reiterated a “buy” rating and set a $56.00 price target on shares of MetLife in a research report on Wednesday, September 6th. UBS AG reiterated a “neutral” rating and set a $49.00 price target (down previously from $57.00) on shares of MetLife in a research report on Friday, September 1st. ValuEngine cut shares of MetLife from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 26th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $59.00 price target on shares of MetLife in a research report on Thursday, August 3rd. Finally, Morgan Stanley boosted their price target on shares of MetLife from $54.00 to $55.00 and gave the company an “equal weight” rating in a research report on Thursday, October 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $58.40.
In related news, insider Christopher G. Townsend sold 82,731 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $54.60, for a total transaction of $4,517,112.60. Following the transaction, the insider now owns 49,660 shares in the company, valued at $2,711,436. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher G. Townsend sold 55,712 shares of the 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 transaction, the insider now owns 25,181 shares in the company, valued at approximately $1,367,076.49. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.
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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