Graybill Bartz & Assoc Ltd. cut its holdings in Metlife Inc (NYSE:MET) by 32.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,611 shares of the financial services provider’s stock after selling 27,082 shares during the quarter. Graybill Bartz & Assoc Ltd.’s holdings in Metlife were worth $2,598,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in MET. Nuveen Asset Management LLC lifted its stake in Metlife by 192.1% in the first quarter. Nuveen Asset Management LLC now owns 134,961 shares of the financial services provider’s stock worth $6,193,000 after acquiring an additional 88,751 shares during the period. Element Capital Management LLC purchased a new stake in Metlife in the first quarter worth about $5,153,000. LPL Financial LLC lifted its stake in Metlife by 9.1% in the first quarter. LPL Financial LLC now owns 190,271 shares of the financial services provider’s stock worth $8,732,000 after acquiring an additional 15,792 shares during the period. Mariner LLC lifted its stake in Metlife by 432.0% in the first quarter. Mariner LLC now owns 21,185 shares of the financial services provider’s stock worth $972,000 after acquiring an additional 17,203 shares during the period. Finally, Guggenheim Capital LLC lifted its stake in Metlife by 3.1% in the first quarter. Guggenheim Capital LLC now owns 1,293,823 shares of the financial services provider’s stock worth $59,373,000 after acquiring an additional 38,698 shares during the period. 77.47% of the stock is owned by institutional investors.
In other news, Chairman Steven A. Kandarian sold 85,683 shares of the company’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $46.93, for a total transaction of $4,021,103.19. Following the transaction, the chairman now owns 585,005 shares in the company, valued at $27,454,284.65. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Steven A. Kandarian sold 42,805 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $47.03, for a total transaction of $2,013,119.15. Following the transaction, the chairman now owns 559,097 shares in the company, valued at approximately $26,294,331.91. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.
Metlife stock traded up $0.06 during trading hours on Friday, reaching $43.82. The stock had a trading volume of 957,642 shares, compared to its average volume of 5,957,638. The company has a market capitalization of $46.48 billion, a PE ratio of 9.61, a P/E/G ratio of 0.71 and a beta of 1.23. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.15 and a current ratio of 0.15. Metlife Inc has a 52 week low of $43.09 and a 52 week high of $55.91.
Metlife (NYSE:MET) last announced its earnings results on Wednesday, August 1st. The financial services provider reported $1.30 EPS for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.13. Metlife had a net margin of 6.12% and a return on equity of 9.17%. The business had revenue of $21.22 billion during the quarter, compared to the consensus estimate of $15.65 billion. During the same period in the previous year, the company posted $1.04 earnings per share. The firm’s revenue was up 36.8% on a year-over-year basis. On average, equities analysts predict that Metlife Inc will post 5.22 earnings per share for the current fiscal year.
MET has been the subject of a number of research reports. Zacks Investment Research raised shares of Metlife from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Friday, October 5th. Wells Fargo & Co reiterated a “buy” rating and issued a $60.00 target price on shares of Metlife in a report on Thursday, September 27th. Morgan Stanley reduced their target price on shares of Metlife from $53.00 to $52.00 and set an “equal weight” rating for the company in a report on Wednesday, July 11th. Sandler O’Neill reiterated a “hold” rating and issued a $50.00 target price on shares of Metlife in a report on Thursday, August 2nd. Finally, B. Riley reduced their target price on shares of Metlife from $58.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, July 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $55.00.
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short- and long-term disability, individual disability, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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