MetLife, Inc. $MET Stock Sold by BDF Gestion

BDF Gestion cut its stake in shares of MetLife, Inc. (NYSE:MET) by 33.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 24,460 shares of the financial services provider’s stock after selling 12,102 shares during the quarter. BDF Gestion’s holdings in MetLife were worth $2,303,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in MetLife in the second quarter worth about $4,381,692,000. Pzena Investment Management LLC purchased a new position in shares of MetLife during the 2nd quarter valued at about $941,792,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of MetLife by 5.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,026,518 shares of the financial services provider’s stock valued at $509,904,000 after buying an additional 336,794 shares in the last quarter. Bank of America Corp DE bought a new position in shares of MetLife during the 2nd quarter valued at approximately $455,424,000. Finally, Legal & General Group Plc bought a new position in shares of MetLife during the 2nd quarter valued at approximately $326,904,000. Institutional investors own 94.99% of the company’s stock.

MetLife Price Performance

MET traded down $0.43 on Monday, hitting $100.33. 596,024 shares of the company’s stock traded hands, compared to its average volume of 3,611,538. The company’s 50 day simple moving average is $96.87 and its 200-day simple moving average is $88.88. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.52. MetLife, Inc. has a one year low of $67.33 and a one year high of $102.43. The firm has a market cap of $64.55 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 0.95 and a beta of 0.78.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.13. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The business had revenue of $13.52 billion during the quarter, compared to analyst estimates of $19.67 billion. During the same period last year, the firm posted $2.02 EPS. The company’s revenue was up 10.5% on a year-over-year basis. As a group, research analysts anticipate that MetLife, Inc. will post 9.93 EPS for the current year.

MetLife announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 5th that permits the company to buy back $3.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 4.8% of its shares through open market purchases. Share repurchase programs are often an indication that the company’s board believes its shares are undervalued.

MetLife Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Tuesday, November 3rd will be paid a $0.5925 dividend. The ex-dividend date is Tuesday, November 3rd. This represents a $2.37 annualized dividend and a yield of 2.4%. MetLife’s payout ratio is presently 45.40%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of MetLife in a report on Friday, September 11th. JPMorgan Chase & Co. lifted their price target on shares of MetLife from $108.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday. Evercore reiterated a “mixed” rating on shares of MetLife in a research report on Monday, August 24th. Wells Fargo & Company increased their price objective on shares of MetLife from $109.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, October 12th. Finally, Atlantic Securities set a $103.00 price objective on shares of MetLife in a research report on Wednesday, July 15th. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.19.

About MetLife

MetLife, Inc (NYSE: MET) is a global financial services company that provides insurance, retirement, and employee benefits solutions to individuals, employers, and institutions. Its offerings include life insurance, dental and vision coverage, accident and disability insurance, annuities, retirement savings products, and related financial services.

Through its institutional and workplace businesses, MetLife helps employers provide benefits and retirement programs to their employees. The company also serves individual customers with protection and income products.