Point View Wealth Management Inc. Has $2.38 Million Holdings in MetLife, Inc. (MET)
Point View Wealth Management Inc. cut its stake in MetLife, Inc. (NYSE:MET) by 4.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,739 shares of the financial services provider’s stock after selling 2,294 shares during the period. MetLife accounts for approximately 1.1% of Point View Wealth Management Inc.’s investment portfolio, making the stock its 15th largest holding. Point View Wealth Management Inc.’s holdings in MetLife were worth $2,377,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. increased its position in MetLife by 2.2% in the second quarter. BlackRock Inc. now owns 69,957,359 shares of the financial services provider’s stock worth $3,843,457,000 after buying an additional 1,481,489 shares during the period. Vanguard Group Inc. increased its holdings in shares of MetLife by 2.1% during the second quarter. Vanguard Group Inc. now owns 66,723,143 shares of the financial services provider’s stock valued at $3,665,769,000 after purchasing an additional 1,358,523 shares during the period. State Street Corp increased its holdings in shares of MetLife by 1.4% during the first quarter. State Street Corp now owns 49,020,964 shares of the financial services provider’s stock valued at $2,589,297,000 after purchasing an additional 680,903 shares during the period. Franklin Resources Inc. increased its holdings in shares of MetLife by 1.6% during the second quarter. Franklin Resources Inc. now owns 25,704,204 shares of the financial services provider’s stock valued at $1,412,189,000 after purchasing an additional 414,032 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of MetLife by 6.9% during the first quarter. Geode Capital Management LLC now owns 10,265,096 shares of the financial services provider’s stock valued at $541,427,000 after purchasing an additional 664,918 shares during the period. 75.85% of the stock is currently owned by hedge funds and other institutional investors.
MetLife, Inc. (NYSE MET) traded up $0.16 during trading hours on Monday, hitting $51.81. The company had a trading volume of 1,402,398 shares, compared to its average volume of 5,825,098. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.16 and a quick ratio of 0.16. MetLife, Inc. has a fifty-two week low of $44.26 and a fifty-two week high of $55.91. The firm has a market cap of $54,351.24, a price-to-earnings ratio of 9.93, a price-to-earnings-growth ratio of 1.30 and a beta of 1.51.
MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.19. MetLife had a positive return on equity of 8.81% and a negative net margin of 0.75%. The business had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.47 billion. During the same quarter last year, the company posted $1.28 EPS. MetLife’s revenue for the quarter was up 1.7% on a year-over-year basis. analysts anticipate that MetLife, Inc. will post 4.43 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Monday, November 6th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.09%. The ex-dividend date is Friday, November 3rd. MetLife’s dividend payout ratio is currently -320.00%.
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In related news, insider Christopher G. Townsend sold 55,712 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $54.29, for a total value of $3,024,604.48. Following the completion of the sale, the insider now directly owns 25,181 shares of the company’s stock, valued at approximately $1,367,076.49. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Christopher G. Townsend sold 82,731 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $54.60, for a total value of $4,517,112.60. Following the completion of the sale, the insider now directly owns 49,660 shares of the company’s stock, valued at $2,711,436. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.
A number of research analysts have recently commented on the company. Royal Bank Of Canada reissued an “outperform” rating and set a $60.00 price target (up from $56.00) on shares of MetLife in a report on Friday, November 3rd. Keefe, Bruyette & Woods reissued a “buy” rating and set a $59.00 price target on shares of MetLife in a report on Thursday, August 3rd. Morgan Stanley raised their price target on MetLife from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Friday, November 3rd. TheStreet raised MetLife from a “c” rating to a “b-” rating in a report on Monday, July 24th. Finally, BidaskClub lowered MetLife from a “hold” rating to a “sell” rating in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. MetLife currently has a consensus rating of “Buy” and a consensus target price of $58.40.
MetLife Company Profile
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, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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