Brandywine Global Investment Management LLC Sells 2,688 Shares of Metlife Inc (MET)
Brandywine Global Investment Management LLC lowered its holdings in shares of Metlife Inc (NYSE:MET) by 0.2% during the fourth quarter, HoldingsChannel reports. The firm owned 1,183,472 shares of the financial services provider’s stock after selling 2,688 shares during the period. Brandywine Global Investment Management LLC’s holdings in Metlife were worth $48,594,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. JNBA Financial Advisors bought a new position in shares of Metlife during the 4th quarter valued at $26,000. Bruderman Asset Management LLC bought a new position in shares of Metlife during the 4th quarter valued at $27,000. Berman Capital Advisors LLC bought a new position in shares of Metlife during the 4th quarter valued at $31,000. Country Trust Bank raised its holdings in shares of Metlife by 1,052.6% during the 4th quarter. Country Trust Bank now owns 876 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 800 shares in the last quarter. Finally, Acima Private Wealth LLC bought a new position in shares of Metlife during the 4th quarter valued at $37,000. Institutional investors and hedge funds own 74.09% of the company’s stock.
Shares of MET opened at $45.31 on Friday. The firm has a market capitalization of $43.05 billion, a P/E ratio of 8.41, a PEG ratio of 0.96 and a beta of 1.20. Metlife Inc has a one year low of $37.76 and a one year high of $48.92. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.26.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Tuesday, February 5th were issued a $0.42 dividend. The ex-dividend date was Monday, February 4th. This represents a $1.68 annualized dividend and a yield of 3.71%. Metlife’s dividend payout ratio (DPR) is presently 31.17%.
A number of research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Metlife from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a report on Tuesday, November 20th. Royal Bank of Canada cut their price target on shares of Metlife from $57.00 to $50.00 and set an “outperform” rating on the stock in a report on Monday, December 17th. Wells Fargo & Co set a $60.00 price target on shares of Metlife and gave the company a “buy” rating in a report on Thursday, December 13th. Argus restated a “buy” rating on shares of Metlife in a report on Tuesday, February 12th. Finally, ValuEngine upgraded shares of Metlife from a “sell” rating to a “hold” rating in a report on Wednesday, January 16th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $52.92.
In other Metlife news, EVP Steven J. Goulart sold 10,292 shares of the firm’s stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $44.40, for a total value of $456,964.80. Following the sale, the executive vice president now directly owns 93,214 shares in the company, valued at approximately $4,138,701.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carlos M. Gutierrez purchased 6,400 shares of the firm’s stock in a transaction on Monday, December 17th. The stock was bought at an average price of $39.04 per share, for a total transaction of $249,856.00. Following the completion of the transaction, the director now directly owns 4,668 shares in the company, valued at $182,238.72. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.
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.
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