BTR Capital Management Inc. Has $7,428,000 Stake in MetLife Inc. (MET)
BTR Capital Management Inc. cut its stake in MetLife Inc. (NYSE:MET) by 1.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 167,186 shares of the company’s stock after selling 2,723 shares during the period. MetLife comprises 1.7% of BTR Capital Management Inc.’s holdings, making the stock its 24th largest position. BTR Capital Management Inc.’s holdings in MetLife were worth $7,428,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in MET. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in MetLife during the second quarter valued at $110,000. ClariVest Asset Management LLC boosted its position in MetLife by 0.3% in the second quarter. ClariVest Asset Management LLC now owns 2,806 shares of the company’s stock valued at $112,000 after buying an additional 8 shares in the last quarter. Manchester Capital Management LLC boosted its position in MetLife by 0.3% in the second quarter. Manchester Capital Management LLC now owns 2,891 shares of the company’s stock valued at $115,000 after buying an additional 9 shares in the last quarter. Carroll Financial Associates Inc. boosted its position in MetLife by 51.5% in the third quarter. Carroll Financial Associates Inc. now owns 2,625 shares of the company’s stock valued at $116,000 after buying an additional 892 shares in the last quarter. Finally, First New York Securities LLC NY acquired a new position in MetLife during the second quarter valued at $119,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.
Shares of MetLife Inc. (NYSE:MET) traded up 1.40% during trading on Wednesday, reaching $54.95. The company had a trading volume of 3,482,931 shares. The company has a market capitalization of $60.40 billion, a PE ratio of 16.88 and a beta of 1.66. The stock’s 50-day moving average price is $49.69 and its 200-day moving average price is $44.47. MetLife Inc. has a 52 week low of $35.00 and a 52 week high of $55.49.
MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $1.28 EPS for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.04. MetLife had a return on equity of 6.99% and a net margin of 5.58%. The company earned $17.70 billion during the quarter, compared to analysts’ expectations of $17.03 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. The firm’s revenue was down 99.9% compared to the same quarter last year. On average, equities analysts expect that MetLife Inc. will post $4.63 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 13th. Shareholders of record on Monday, November 7th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.95%. MetLife’s dividend payout ratio is currently 49.23%.
MET has been the subject of several recent analyst reports. TheStreet cut MetLife from a “buy” rating to a “hold” rating in a research note on Wednesday, August 24th. FBR & Co boosted their price target on MetLife from $51.00 to $54.00 and gave the stock an “outperform” rating in a research note on Monday, August 29th. Argus restated a “buy” rating and issued a $54.00 price target on shares of MetLife in a research note on Wednesday, September 7th. Wells Fargo & Co. restated an “outperform” rating on shares of MetLife in a research note on Friday, September 23rd. Finally, Credit Suisse Group AG initiated coverage on MetLife in a research note on Friday, October 7th. They issued a “neutral” rating and a $51.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $51.35.
In other MetLife news, EVP Maria R. Morris sold 2,200 shares of MetLife stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $47.33, for a total transaction of $104,126.00. Following the completion of the sale, the executive vice president now owns 109,809 shares of the company’s stock, valued at approximately $5,197,259.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Frans Hijkoop sold 56,250 shares of MetLife stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $51.48, for a total value of $2,895,750.00. Following the sale, the executive vice president now directly owns 111,813 shares of the company’s stock, valued at approximately $5,756,133.24. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.
MetLife Company Profile
MetLife, Inc (MetLife) is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include Retail; Group, Voluntary & Worksite Benefits; Corporate Benefit Funding; Latin America (collectively, the Americas); Asia, and Europe, the Middle East and Africa (EMEA).
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