Intersect Capital LLC grew its holdings in Metlife Inc (NYSE:MET) by 9.7% during the 4th quarter, HoldingsChannel reports. The fund owned 19,470 shares of the financial services provider’s stock after acquiring an additional 1,719 shares during the period. Intersect Capital LLC’s holdings in Metlife were worth $799,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Country Trust Bank lifted its position in shares of Metlife by 1,052.6% in the fourth quarter. Country Trust Bank now owns 876 shares of the financial services provider’s stock worth $36,000 after buying an additional 800 shares in the last quarter. Founders Capital Management purchased a new stake in shares of Metlife in the fourth quarter worth about $37,000. CWM LLC lifted its position in shares of Metlife by 111.4% in the fourth quarter. CWM LLC now owns 983 shares of the financial services provider’s stock worth $40,000 after buying an additional 518 shares in the last quarter. Evolution Wealth Advisors LLC purchased a new stake in shares of Metlife in the fourth quarter worth about $53,000. Finally, San Francisco Sentry Investment Group CA lifted its position in shares of Metlife by 22.5% in the fourth quarter. San Francisco Sentry Investment Group CA now owns 1,433 shares of the financial services provider’s stock worth $59,000 after buying an additional 263 shares in the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.
A number of equities research analysts recently commented on the company. Royal Bank of Canada decreased their target price on Metlife from $57.00 to $50.00 and set an “outperform” rating on the stock in a research report on Monday, December 17th. Morgan Stanley boosted their target price on Metlife from $52.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 13th. ValuEngine upgraded Metlife from a “sell” rating to a “hold” rating in a research report on Wednesday, January 16th. Zacks Investment Research downgraded Metlife from a “buy” rating to a “hold” rating in a research report on Monday, January 21st. Finally, Sandler O’Neill upgraded Metlife from a “hold” rating to a “buy” rating in a research report on Wednesday, January 2nd. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $53.16.
In related news, Director Carlos M. Gutierrez acquired 6,400 shares of the firm’s stock in a transaction on Monday, December 17th. The shares were acquired at an average cost 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 approximately $182,238.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company’s stock.
Shares of MET stock opened at $44.33 on Tuesday. Metlife Inc has a 1 year low of $37.76 and a 1 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 0.24. The company has a market cap of $42.15 billion, a price-to-earnings ratio of 8.22, a P/E/G ratio of 0.92 and a beta of 1.20.
Metlife (NYSE:MET) last issued its quarterly earnings data on Wednesday, February 6th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. Metlife had a return on equity of 10.24% and a net margin of 7.53%. The business had revenue of $15.40 billion for the quarter, compared to the consensus estimate of $15.84 billion. During the same period in the prior year, the business posted $0.64 earnings per share. The company’s quarterly revenue was up .0% compared to the same quarter last year. On average, equities research analysts anticipate that Metlife Inc will post 5.51 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 13th. Shareholders of record on Tuesday, February 5th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, February 4th. This represents a $1.68 dividend on an annualized basis and a yield of 3.79%. Metlife’s dividend payout ratio (DPR) is presently 31.17%.
Metlife declared that its board has approved a share repurchase plan on Thursday, November 1st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 4.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
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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.
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