Cascade Investment Advisors Inc. Purchases Shares of 18,758 Metlife Inc (MET)
Cascade Investment Advisors Inc. purchased a new position in Metlife Inc (NYSE:MET) during the fourth quarter, Holdings Channel reports. The fund purchased 18,758 shares of the financial services provider’s stock, valued at approximately $948,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of MET. Farmers National Bank purchased a new stake in shares of Metlife during the 2nd quarter worth approximately $118,000. Ffcm LLC raised its holdings in shares of Metlife by 2,020.8% during the 3rd quarter. Ffcm LLC now owns 2,248 shares of the financial services provider’s stock worth $119,000 after acquiring an additional 2,142 shares in the last quarter. Cable Hill Partners LLC raised its holdings in shares of Metlife by 246.6% during the 3rd quarter. Cable Hill Partners LLC now owns 2,412 shares of the financial services provider’s stock worth $125,000 after acquiring an additional 1,716 shares in the last quarter. Valeo Financial Advisors LLC purchased a new stake in shares of Metlife during the 3rd quarter worth approximately $151,000. Finally, Fieldpoint Private Securities LLC purchased a new stake in shares of Metlife during the 3rd quarter worth approximately $175,000. 76.27% of the stock is currently owned by institutional investors.
Several analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $60.00 price objective (up from $56.00) on shares of Metlife in a report on Friday, November 3rd. Morgan Stanley upped their price objective on Metlife from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Friday, November 3rd. Argus upped their price objective on Metlife from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, November 6th. Zacks Investment Research raised Metlife from a “strong sell” rating to a “hold” rating in a report on Monday, October 9th. Finally, FBR & Co downgraded Metlife from a “buy” rating to a “neutral” rating and cut their target price for the company from $53.00 to $52.00 in a research report on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $57.90.
Metlife (NYSE:MET) last released its earnings results on Wednesday, November 1st. The financial services provider reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.19. The firm had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.47 billion. Metlife had a positive return on equity of 8.81% and a negative net margin of 0.75%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 EPS. analysts forecast that Metlife Inc will post 4.4 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 13th. Shareholders of record on Monday, February 5th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.04%. The ex-dividend date is Friday, February 2nd. Metlife’s dividend payout ratio (DPR) is presently 347.83%.
In other Metlife news, insider Christopher G. Townsend sold 55,712 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 25,181 shares of the company’s stock, valued at approximately $1,367,076.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher G. Townsend sold 82,731 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $54.60, for a total value of $4,517,112.60. Following the completion of the transaction, the insider now directly owns 49,660 shares in the company, valued at approximately $2,711,436. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.
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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