Hennessy Advisors Inc. Sells 5,000 Shares of Metlife Inc (NYSE:MET)

Hennessy Advisors Inc. cut its position in shares of Metlife Inc (NYSE:MET) by 4.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 106,400 shares of the financial services provider’s stock after selling 5,000 shares during the period. Hennessy Advisors Inc.’s holdings in Metlife were worth $5,423,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Unison Advisors LLC raised its position in Metlife by 0.9% during the fourth quarter. Unison Advisors LLC now owns 21,518 shares of the financial services provider’s stock valued at $1,097,000 after purchasing an additional 201 shares during the period. Gilbert & Cook Inc. raised its position in Metlife by 5.2% during the third quarter. Gilbert & Cook Inc. now owns 4,559 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 227 shares during the period. Perkins Coie Trust Co raised its position in Metlife by 0.6% during the third quarter. Perkins Coie Trust Co now owns 43,972 shares of the financial services provider’s stock valued at $2,073,000 after purchasing an additional 267 shares during the period. Parkside Financial Bank & Trust raised its position in Metlife by 14.7% during the third quarter. Parkside Financial Bank & Trust now owns 2,198 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 282 shares during the period. Finally, Allworth Financial LP raised its position in Metlife by 37.9% during the third quarter. Allworth Financial LP now owns 1,095 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 301 shares during the period. 74.46% of the stock is owned by institutional investors.

Shares of NYSE MET opened at $52.19 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.15 and a current ratio of 0.15. The business’s 50 day moving average price is $50.67 and its 200-day moving average price is $48.32. Metlife Inc has a fifty-two week low of $41.41 and a fifty-two week high of $52.76. The company has a market cap of $48.23 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 1.01 and a beta of 1.13.

Metlife (NYSE:MET) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.40 by ($0.13). Metlife had a return on equity of 8.82% and a net margin of 10.82%. The business had revenue of $16.92 billion during the quarter, compared to analysts’ expectations of $16.37 billion. During the same quarter in the previous year, the company posted $1.38 earnings per share. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. Sell-side analysts predict that Metlife Inc will post 5.53 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, February 4th will be issued a $0.44 dividend. The ex-dividend date is Monday, February 3rd. This represents a $1.76 annualized dividend and a dividend yield of 3.37%. Metlife’s payout ratio is 32.65%.

A number of equities research analysts have issued reports on the company. Zacks Investment Research upgraded Metlife from a “sell” rating to a “hold” rating and set a $52.00 price objective on the stock in a research report on Monday, December 9th. UBS Group upped their price objective on Metlife from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. B. Riley reiterated a “neutral” rating on shares of Metlife in a report on Tuesday, October 15th. Morgan Stanley upgraded Metlife from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $55.00 to $60.00 in a report on Tuesday, January 7th. Finally, ValuEngine upgraded Metlife from a “strong sell” rating to a “sell” rating in a report on Saturday, December 21st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $50.34.

Metlife Profile

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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Institutional Ownership by Quarter for Metlife (NYSE:MET)

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