MetLife, Inc. $MET Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lowered its holdings in MetLife, Inc. (NYSE:MET) by 5.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 177,346 shares of the financial services provider’s stock after selling 10,459 shares during the period. Resona Asset Management Co. Ltd.’s holdings in MetLife were worth $14,599,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of MET. Quaker Wealth Management LLC boosted its stake in shares of MetLife by 198.2% during the 2nd quarter. Quaker Wealth Management LLC now owns 333 shares of the financial services provider’s stock valued at $27,000 after buying an additional 672 shares during the last quarter. Evolution Wealth Management Inc. acquired a new stake in MetLife in the second quarter valued at $35,000. Salomon & Ludwin LLC boosted its stake in MetLife by 95.4% during the 3rd quarter. Salomon & Ludwin LLC now owns 422 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 206 shares during the last quarter. True Wealth Design LLC grew its holdings in MetLife by 564.1% during the 3rd quarter. True Wealth Design LLC now owns 425 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 361 shares in the last quarter. Finally, MTM Investment Management LLC bought a new stake in shares of MetLife in the 2nd quarter worth about $37,000. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Stock Down 1.5%

NYSE:MET opened at $75.78 on Monday. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.54. The stock has a 50 day moving average of $78.51 and a 200-day moving average of $78.82. The firm has a market capitalization of $49.93 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 0.69 and a beta of 0.76. MetLife, Inc. has a 52 week low of $65.21 and a 52 week high of $87.93.

MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.07. The business had revenue of $12.46 billion for the quarter, compared to the consensus estimate of $18.64 billion. MetLife had a return on equity of 21.00% and a net margin of 5.30%.The business’s revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the business posted $1.95 EPS. Analysts predict that MetLife, Inc. will post 9.65 EPS for the current year.

MetLife Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 3rd will be given a dividend of $0.5675 per share. The ex-dividend date is Tuesday, February 3rd. This represents a $2.27 annualized dividend and a dividend yield of 3.0%. MetLife’s dividend payout ratio is currently 42.75%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MET shares. UBS Group reduced their price target on shares of MetLife from $95.00 to $94.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Mizuho set a $102.00 price objective on MetLife in a research note on Wednesday, January 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of MetLife in a research report on Monday, December 29th. Wells Fargo & Company boosted their price target on MetLife from $94.00 to $97.00 and gave the company an “overweight” rating in a report on Tuesday, January 13th. Finally, Keefe, Bruyette & Woods dropped their price target on MetLife from $92.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 11th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $95.27.

About MetLife

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.