Eaton Vance Management reduced its position in Metlife Inc (NYSE:MET) by 1.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 107,518 shares of the financial services provider’s stock after selling 1,753 shares during the quarter. Eaton Vance Management’s holdings in Metlife were worth $5,023,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Cowen Prime Services LLC boosted its holdings in shares of Metlife by 19.8% in the 2nd quarter. Cowen Prime Services LLC now owns 6,650 shares of the financial services provider’s stock valued at $290,000 after buying an additional 1,100 shares in the last quarter. BTR Capital Management Inc. boosted its holdings in shares of Metlife by 0.7% in the 3rd quarter. BTR Capital Management Inc. now owns 174,635 shares of the financial services provider’s stock valued at $8,159,000 after buying an additional 1,261 shares in the last quarter. Independent Advisor Alliance boosted its holdings in shares of Metlife by 4.7% in the 2nd quarter. Independent Advisor Alliance now owns 28,018 shares of the financial services provider’s stock valued at $1,004,000 after buying an additional 1,265 shares in the last quarter. Boston Private Wealth LLC boosted its holdings in shares of Metlife by 9.9% in the 3rd quarter. Boston Private Wealth LLC now owns 14,096 shares of the financial services provider’s stock valued at $658,000 after buying an additional 1,270 shares in the last quarter. Finally, Bridgeworth LLC boosted its holdings in shares of Metlife by 28.9% in the 3rd quarter. Bridgeworth LLC now owns 5,799 shares of the financial services provider’s stock valued at $212,000 after buying an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 77.45% of the company’s stock.

MET stock opened at $40.63 on Friday. The company has a market capitalization of $41.86 billion, a P/E ratio of 9.03, a P/E/G ratio of 0.63 and a beta of 1.28. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.28. Metlife Inc has a 52 week low of $39.31 and a 52 week high of $55.21.

Metlife (NYSE:MET) last released its earnings results on Thursday, November 1st. The financial services provider reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.11. The company had revenue of $16.40 billion during the quarter, compared to analysts’ expectations of $15.88 billion. Metlife had a net margin of 7.62% and a return on equity of 9.76%. Metlife’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period last year, the business earned $1.09 EPS. As a group, equities research analysts forecast that Metlife Inc will post 5.35 EPS for the current fiscal year.

Metlife declared that its board has initiated a share repurchase program on Thursday, November 1st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 4.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Tuesday, November 6th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date is Monday, November 5th. Metlife’s dividend payout ratio is presently 37.33%.

MET has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Metlife from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Friday, October 5th. Credit Suisse Group lowered their target price on shares of Metlife from $67.00 to $63.00 and set an “outperform” rating for the company in a research note on Friday, August 17th. Wells Fargo & Co set a $60.00 target price on shares of Metlife and gave the stock a “buy” rating in a research note on Friday, November 2nd. UBS Group lifted their target price on shares of Metlife from $48.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, October 8th. Finally, Morgan Stanley lifted their target price on shares of Metlife from $52.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Metlife currently has an average rating of “Hold” and an average target price of $53.92.

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Metlife Company Profile

MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short- and long-term disability, individual disability, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.

Read More: Price to Earnings Ratio (PE)

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Institutional Ownership by Quarter for Metlife (NYSE:MET)

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