MetLife, Inc. $MET Stock: Private Management Group Inc. Trims Position

Private Management Group Inc. decreased its stake in MetLife, Inc. (NYSE:MET) by 17.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 288,376 shares of the financial services provider’s stock after selling 61,250 shares during the period. Private Management Group Inc.’s holdings in MetLife were worth $27,153,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. CX Institutional raised its stake in MetLife by 1.3% during the 3rd quarter. CX Institutional now owns 8,672 shares of the financial services provider’s stock worth $817,000 after acquiring an additional 115 shares in the last quarter. Investment Research Partners LLC boosted its stake in MetLife by 3.9% in the third quarter. Investment Research Partners LLC now owns 3,103 shares of the financial services provider’s stock valued at $292,000 after acquiring an additional 116 shares in the last quarter. McGlone Suttner Wealth Management Inc. boosted its stake in MetLife by 0.6% in the third quarter. McGlone Suttner Wealth Management Inc. now owns 22,391 shares of the financial services provider’s stock valued at $2,108,000 after acquiring an additional 124 shares in the last quarter. Capital Analysts LLC boosted its stake in MetLife by 0.3% in the second quarter. Capital Analysts LLC now owns 38,262 shares of the financial services provider’s stock valued at $3,238,000 after acquiring an additional 129 shares in the last quarter. Finally, Carnegie Investment Counsel grew its holdings in shares of MetLife by 4.4% during the third quarter. Carnegie Investment Counsel now owns 3,136 shares of the financial services provider’s stock worth $295,000 after purchasing an additional 132 shares during the last quarter. Institutional investors and hedge funds own 94.99% of the company’s stock.

Wall Street Analyst Weigh In

MET has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods lifted their target price on MetLife from $105.00 to $108.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Morgan Stanley upped their target price on MetLife from $103.00 to $111.00 and gave the company an “overweight” rating in a research report on Monday, August 24th. Mizuho set a $112.00 target price on MetLife in a research report on Monday. Wall Street Zen downgraded MetLife from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Bank of America cut their price target on MetLife from $106.00 to $103.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. Fourteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $106.62.

MetLife Stock Up 3.6%

MET stock opened at $101.80 on Tuesday. The company has a market cap of $65.50 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 0.97 and a beta of 0.79. The company has a fifty day moving average price of $98.26 and a 200 day moving average price of $86.39. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.20 and a quick ratio of 0.20. MetLife, Inc. has a 12 month low of $67.33 and a 12 month high of $106.72.

MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.01. The company had revenue of $20.52 billion for the quarter, compared to the consensus estimate of $19.86 billion. MetLife had a net margin of 6.21% and a return on equity of 24.45%. MetLife’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period last year, the firm posted $2.34 EPS. Sell-side analysts expect that MetLife, Inc. will post 9.93 earnings per share for the current year.

MetLife Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Tuesday, November 3rd will be issued a $0.5925 dividend. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, November 3rd. MetLife’s dividend payout ratio is presently 30.90%.

MetLife declared that its board has initiated a share buyback program on Wednesday, August 5th that authorizes the company to buy back $3 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.8% of its shares through open market purchases. Share buyback programs are typically an indication that the company’s board believes its shares are undervalued.

MetLife Company Profile

MetLife, Inc is a global financial services company best known for providing insurance, employee benefits and retirement-related products. Its offerings include life, dental and disability insurance, annuities, and products and services designed to help individuals and employers plan for financial protection and retirement.

The company serves individuals, businesses and institutions in the United States and international markets, including countries in Latin America, Asia, Europe and the Middle East.