Stack Financial Management Inc Sells 4,321 Shares of Metlife Inc (MET)
Stack Financial Management Inc trimmed its holdings in shares of Metlife Inc (NYSE:MET) by 1.7% during the 4th quarter, HoldingsChannel reports. The fund owned 242,609 shares of the financial services provider’s stock after selling 4,321 shares during the period. Stack Financial Management Inc’s holdings in Metlife were worth $12,266,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. Farmers National Bank purchased a new stake in shares of Metlife during the second quarter valued at about $118,000. Ffcm LLC lifted its position in shares of Metlife by 2,020.8% during the third quarter. Ffcm LLC now owns 2,248 shares of the financial services provider’s stock valued at $119,000 after buying an additional 2,142 shares during the last quarter. Cable Hill Partners LLC lifted its position in shares of Metlife by 246.6% during the third quarter. Cable Hill Partners LLC now owns 2,412 shares of the financial services provider’s stock valued at $125,000 after buying an additional 1,716 shares during the last quarter. Valeo Financial Advisors LLC purchased a new stake in shares of Metlife during the third quarter valued at about $151,000. Finally, BlueMountain Capital Management LLC purchased a new stake in shares of Metlife during the second quarter valued at about $181,000. Institutional investors own 76.27% of the company’s stock.
In other Metlife news, insider Christopher G. Townsend sold 82,731 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $54.60, for a total transaction of $4,517,112.60. Following the completion of the transaction, the insider now directly owns 49,660 shares of the company’s stock, valued at approximately $2,711,436. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher G. Townsend sold 55,712 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $54.29, for a total transaction of $3,024,604.48. Following the transaction, the insider now directly owns 25,181 shares of the company’s stock, valued at $1,367,076.49. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.
Metlife (NYSE:MET) last announced its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.19. The firm had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.47 billion. Metlife had a negative net margin of 0.75% and a positive return on equity of 8.81%. Metlife’s revenue was up 1.7% on a year-over-year basis. During the same period last year, the firm posted $1.28 EPS. research analysts anticipate that Metlife Inc will post 4.42 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 13th. Investors of record on Monday, February 5th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, February 2nd. Metlife’s payout ratio is currently -320.00%.
Several analysts have commented on the stock. Zacks Investment Research raised shares of Metlife from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Thursday. Deutsche Bank assumed coverage on shares of Metlife in a research report on Tuesday, January 2nd. They set a “hold” rating and a $55.00 price target for the company. Wells Fargo & Co set a $62.00 price target on shares of Metlife and gave the company a “buy” rating in a research report on Thursday, December 14th. Sandler O’Neill lowered shares of Metlife from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Finally, ValuEngine lowered shares of Metlife from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $57.77.
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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