Brandywine Global Investment Management LLC Reduces Position in Metlife Inc (MET)

Brandywine Global Investment Management LLC decreased its holdings in shares of Metlife Inc (NYSE:MET) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,183,472 shares of the financial services provider’s stock after selling 2,688 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.12% of Metlife worth $48,594,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Crestline Management LP bought a new position in shares of Metlife in the fourth quarter valued at approximately $2,537,000. Mackay Shields LLC boosted its holdings in shares of Metlife by 55.5% in the fourth quarter. Mackay Shields LLC now owns 508,626 shares of the financial services provider’s stock valued at $20,884,000 after acquiring an additional 181,457 shares in the last quarter. Dana Investment Advisors Inc. bought a new position in shares of Metlife in the fourth quarter valued at approximately $450,000. QS Investors LLC boosted its holdings in shares of Metlife by 200.4% in the fourth quarter. QS Investors LLC now owns 55,539 shares of the financial services provider’s stock valued at $2,281,000 after acquiring an additional 37,052 shares in the last quarter. Finally, Achmea Investment Management B.V. boosted its holdings in shares of Metlife by 179.9% in the fourth quarter. Achmea Investment Management B.V. now owns 115,066 shares of the financial services provider’s stock valued at $4,723,000 after acquiring an additional 73,959 shares in the last quarter. Hedge funds and other institutional investors own 74.09% of the company’s stock.

In related news, EVP Steven J. Goulart sold 10,292 shares of the firm’s stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $44.40, for a total value of $456,964.80. Following the completion of the transaction, the executive vice president now owns 93,214 shares of the company’s stock, valued at approximately $4,138,701.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carlos M. Gutierrez acquired 6,400 shares of the firm’s stock in a transaction that occurred on Monday, December 17th. The stock was purchased at an average cost of $39.04 per share, with a total value of $249,856.00. Following the purchase, the director now directly owns 4,668 shares in the company, valued at approximately $182,238.72. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

Shares of NYSE:MET opened at $45.31 on Friday. The company has a market cap of $43.05 billion, a P/E ratio of 8.41, a price-to-earnings-growth ratio of 0.96 and a beta of 1.20. Metlife Inc has a 1-year low of $37.76 and a 1-year high of $48.92. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.26.

Metlife (NYSE:MET) last issued its earnings results on Wednesday, February 6th. The financial services provider reported $1.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.05. The firm had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.84 billion. Metlife had a net margin of 7.53% and a return on equity of 10.24%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the firm posted $0.64 earnings per share. As a group, sell-side analysts anticipate that Metlife Inc will post 5.48 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Tuesday, February 5th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend was Monday, February 4th. Metlife’s payout ratio is 31.17%.

Several research analysts have recently issued reports on MET shares. Bank of America upgraded shares of Metlife from a “neutral” rating to a “buy” rating and set a $44.06 price objective for the company in a report on Wednesday, January 16th. Wells Fargo & Co reiterated a “buy” rating on shares of Metlife in a report on Tuesday, January 8th. Sandler O’Neill upgraded shares of Metlife from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. Zacks Investment Research upgraded shares of Metlife from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Tuesday, November 20th. Finally, Argus reiterated a “buy” rating on shares of Metlife in a report on Tuesday, February 12th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Metlife presently has an average rating of “Buy” and an average price target of $52.92.

COPYRIGHT VIOLATION NOTICE: “Brandywine Global Investment Management LLC Reduces Position in Metlife Inc (MET)” was first posted by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another site, it was stolen and republished in violation of international copyright and trademark law. The legal version of this piece of content can be accessed at https://www.americanbankingnews.com/2019/03/17/brandywine-global-investment-management-llc-reduces-position-in-metlife-inc-met.html.

About Metlife

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.

See Also: 12b-1 Fees

Institutional Ownership by Quarter for Metlife (NYSE:MET)

Receive News & Ratings for Metlife Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Metlife and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply