Metlife Inc (MET) Shares Sold by Scotia Capital Inc.
Scotia Capital Inc. reduced its position in Metlife Inc (NYSE:MET) by 1.9% in the 4th quarter, HoldingsChannel reports. The firm owned 949,358 shares of the financial services provider’s stock after selling 17,944 shares during the period. Scotia Capital Inc.’s holdings in Metlife were worth $48,005,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Caisse DE Depot ET Placement DU Quebec increased its stake in Metlife by 11.2% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,422,414 shares of the financial services provider’s stock valued at $122,477,000 after purchasing an additional 243,800 shares in the last quarter. Invictus RG purchased a new position in Metlife during the fourth quarter worth $401,000. ETRADE Capital Management LLC increased its position in Metlife by 32.5% during the fourth quarter. ETRADE Capital Management LLC now owns 42,187 shares of the financial services provider’s stock worth $2,133,000 after buying an additional 10,344 shares in the last quarter. Snow Capital Management LP grew its position in shares of Metlife by 4.7% in the fourth quarter. Snow Capital Management LP now owns 1,204,905 shares of the financial services provider’s stock valued at $60,920,000 after purchasing an additional 53,883 shares during the period. Finally, Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Metlife in the fourth quarter valued at $23,435,000. 76.62% of the stock is owned by hedge funds and other institutional investors.
MET has been the subject of a number of recent analyst reports. ValuEngine downgraded Metlife from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. Zacks Investment Research downgraded Metlife from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Deutsche Bank initiated coverage on Metlife in a research report on Tuesday, January 2nd. They issued a “hold” rating and a $55.00 price objective for the company. Argus lifted their price objective on Metlife from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Finally, Wells Fargo & Co set a $62.00 price objective on Metlife and gave the company a “buy” rating in a research report on Thursday, December 14th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $57.71.
Metlife (NYSE:MET) last issued its earnings results on Tuesday, February 13th. The financial services provider reported $0.64 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.05 by ($0.41). Metlife had a net margin of 5.69% and a return on equity of 8.59%. The firm had revenue of $15.79 billion during the quarter, compared to analyst estimates of $15.89 billion. During the same quarter in the previous year, the business posted $1.28 EPS. equities analysts forecast that Metlife Inc will post 4.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 13th. Investors of record on Monday, February 5th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Friday, February 2nd. Metlife’s payout ratio is currently 46.92%.
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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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