MetLife, Inc. (NYSE:MET) Shares Sold by Covington Capital Management

Covington Capital Management trimmed its holdings in shares of MetLife, Inc. (NYSE:METGet Rating) by 5.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,551 shares of the financial services provider’s stock after selling 409 shares during the period. Covington Capital Management’s holdings in MetLife were worth $411,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in MET. Equitable Holdings Inc. boosted its position in MetLife by 5.4% during the 4th quarter. Equitable Holdings Inc. now owns 6,560 shares of the financial services provider’s stock worth $410,000 after purchasing an additional 336 shares during the period. Eagle Asset Management Inc. boosted its position in MetLife by 1.0% during the 4th quarter. Eagle Asset Management Inc. now owns 35,727 shares of the financial services provider’s stock worth $2,235,000 after purchasing an additional 352 shares during the period. Level Four Advisory Services LLC boosted its position in MetLife by 17.6% during the 4th quarter. Level Four Advisory Services LLC now owns 7,235 shares of the financial services provider’s stock worth $452,000 after purchasing an additional 1,085 shares during the period. True North Advisors LLC purchased a new position in MetLife in the 4th quarter valued at about $1,352,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in MetLife by 356.0% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 627,993 shares of the financial services provider’s stock valued at $39,243,000 after buying an additional 490,274 shares during the last quarter. 86.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at MetLife

In other MetLife news, EVP Steven J. Goulart sold 4,060 shares of the firm’s stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $67.60, for a total value of $274,456.00. Following the sale, the executive vice president now owns 55,299 shares in the company, valued at $3,738,212.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MET. Morgan Stanley upped their price objective on shares of MetLife from $79.00 to $83.00 and gave the company an “overweight” rating in a research report on Wednesday, August 17th. Evercore ISI upped their price objective on shares of MetLife to $81.00 in a research report on Tuesday, August 9th. Barclays set a $75.00 price objective on shares of MetLife in a research report on Tuesday, July 19th. JPMorgan Chase & Co. decreased their price objective on shares of MetLife from $75.00 to $74.00 in a research report on Monday, July 11th. Finally, TheStreet raised shares of MetLife from a “c+” rating to a “b-” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $76.92.

MetLife Price Performance

MET opened at $65.08 on Monday. The firm has a market cap of $52.92 billion, a price-to-earnings ratio of 16.19, a price-to-earnings-growth ratio of 0.49 and a beta of 1.05. MetLife, Inc. has a fifty-two week low of $57.05 and a fifty-two week high of $73.18. The company’s 50-day moving average price is $64.26 and its 200 day moving average price is $65.58. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.39.

MetLife Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Tuesday, August 9th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, August 8th. This represents a $2.00 annualized dividend and a yield of 3.07%. MetLife’s dividend payout ratio (DPR) is 49.75%.

About MetLife

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MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. 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, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.

Further Reading

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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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