MetLife, Inc. (MET) Position Cut by Brave Asset Management Inc.
Brave Asset Management Inc. reduced its stake in MetLife, Inc. (NYSE:MET) by 3.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 62,660 shares of the financial services provider’s stock after selling 2,479 shares during the period. MetLife makes up approximately 1.9% of Brave Asset Management Inc.’s investment portfolio, making the stock its 12th largest position. Brave Asset Management Inc.’s holdings in MetLife were worth $3,310,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of MET. Signature Estate & Investment Advisors LLC purchased a new position in shares of MetLife during the first quarter worth $107,000. First Mercantile Trust Co. bought a new stake in MetLife during the first quarter valued at approximately $149,000. Carroll Financial Associates Inc. raised its stake in MetLife by 15.0% in the first quarter. Carroll Financial Associates Inc. now owns 2,847 shares of the financial services provider’s stock valued at $150,000 after buying an additional 372 shares during the period. SRB Corp raised its stake in MetLife by 20.8% in the third quarter. SRB Corp now owns 3,849 shares of the financial services provider’s stock valued at $171,000 after buying an additional 664 shares during the period. Finally, Alpha Windward LLC raised its stake in MetLife by 0.9% in the first quarter. Alpha Windward LLC now owns 3,297 shares of the financial services provider’s stock valued at $174,000 after buying an additional 29 shares during the period. Hedge funds and other institutional investors own 74.53% of the company’s stock.
Shares of MetLife, Inc. (NYSE MET) traded up 0.62% during trading on Friday, hitting $53.52. 6,343,497 shares of the stock traded hands. The company’s market cap is $57.58 billion. MetLife, Inc. has a one year low of $36.17 and a one year high of $58.09. The firm has a 50 day moving average price of $51.62 and a 200-day moving average price of $53.15.
MetLife (NYSE:MET) last issued its earnings results on Wednesday, May 3rd. The financial services provider reported $1.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.19. MetLife had a negative net margin of 0.95% and a positive return on equity of 7.57%. The firm had revenue of $16.27 billion during the quarter, compared to the consensus estimate of $17.02 billion. During the same quarter in the prior year, the firm earned $1.20 earnings per share. The business’s quarterly revenue was down 11.7% on a year-over-year basis. Analysts anticipate that MetLife, Inc. will post $5.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 13th. Shareholders of record on Monday, May 8th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.99%. The ex-dividend date was Thursday, May 4th. MetLife’s payout ratio is presently -258.06%.
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MET has been the subject of several recent analyst reports. Zacks Investment Research raised MetLife from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Tuesday, April 11th. Bank of America Corporation cut MetLife from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $54.20 to $54.83 in a research note on Monday, March 6th. Citigroup Inc. reaffirmed a “focus list” rating on shares of MetLife in a report on Tuesday, February 21st. Vetr raised MetLife from a “buy” rating to a “strong-buy” rating and set a $58.66 target price for the company in a report on Tuesday, March 21st. Finally, Wells Fargo & Company restated a “buy” rating on shares of MetLife in a research report on Monday, March 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $55.94.
In other news, Director James M. Kilts bought 17,205 shares of the stock in a transaction on Wednesday, March 22nd. The stock was purchased at an average price of $51.13 per share, with a total value of $879,691.65. Following the completion of the purchase, the director now owns 59,443 shares of the company’s stock, valued at $3,039,320.59. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.30% of the stock is currently owned by corporate insiders.
MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings; Brighthouse Financial, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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