TRUE Private Wealth Advisors Sells 2,362 Shares of MetLife, Inc. (NYSE:MET)

TRUE Private Wealth Advisors lowered its stake in MetLife, Inc. (NYSE:MET) by 29.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 5,753 shares of the financial services provider’s stock after selling 2,362 shares during the quarter. TRUE Private Wealth Advisors’ holdings in MetLife were worth $344,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. raised its stake in shares of MetLife by 16.9% in the second quarter. Victory Capital Management Inc. now owns 1,112,676 shares of the financial services provider’s stock worth $66,594,000 after buying an additional 160,668 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in MetLife by 4.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 496,938 shares of the financial services provider’s stock valued at $29,742,000 after purchasing an additional 22,605 shares during the period. Ergoteles LLC raised its stake in MetLife by 638.3% during the 1st quarter. Ergoteles LLC now owns 263,587 shares of the financial services provider’s stock valued at $16,023,000 after purchasing an additional 227,887 shares during the period. CIBC World Markets Inc. raised its stake in MetLife by 11.2% during the 1st quarter. CIBC World Markets Inc. now owns 128,386 shares of the financial services provider’s stock valued at $7,805,000 after purchasing an additional 12,965 shares during the period. Finally, Stelac Advisory Services LLC bought a new stake in MetLife during the 2nd quarter valued at approximately $264,000. 74.60% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MetLife stock traded up $0.54 on Wednesday, reaching $61.32. The company had a trading volume of 17,499 shares, compared to its average volume of 5,054,602. The firm has a market cap of $52.54 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 1.02 and a beta of 1.31. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.15 and a quick ratio of 0.15. The firm’s 50-day moving average price is $59.96 and its two-hundred day moving average price is $61.54. MetLife, Inc. has a 1 year low of $35.19 and a 1 year high of $67.68.

MetLife (NYSE:MET) last announced its earnings results on Wednesday, August 4th. The financial services provider reported $2.37 EPS for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.76. The firm had revenue of $18.52 billion during the quarter, compared to analysts’ expectations of $15.84 billion. MetLife had a return on equity of 10.78% and a net margin of 6.61%. The company’s quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.83 EPS. As a group, analysts anticipate that MetLife, Inc. will post 7.98 EPS for the current year.

MetLife declared that its board has initiated a share buyback plan on Wednesday, August 4th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 14th. Stockholders of record on Tuesday, August 10th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend was Monday, August 9th. MetLife’s dividend payout ratio (DPR) is 31.17%.

MET has been the topic of several recent analyst reports. lifted their target price on MetLife from $69.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, June 21st. Zacks Investment Research raised MetLife from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Tuesday, June 15th. Morgan Stanley lifted their target price on MetLife from $73.00 to $74.00 and gave the company an “overweight” rating in a research note on Thursday, August 5th. Finally, TheStreet raised MetLife from a “c+” rating to a “b” rating in a research note on Wednesday, August 4th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $64.92.

MetLife Profile

MetLife, Inc provides insurance and financial services to individual and institutional customers. It offers life insurance, annuities, automobile and homeowner’s insurance and retail banking services to individuals as well as group insurance, reinsurance and retirement and savings products and services.

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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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