Transcend Capital Advisors LLC Sells 1,339 Shares of MetLife, Inc. (NYSE:MET)

Transcend Capital Advisors LLC reduced its position in shares of MetLife, Inc. (NYSE:METGet Rating) by 26.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,812 shares of the financial services provider’s stock after selling 1,339 shares during the quarter. Transcend Capital Advisors LLC’s holdings in MetLife were worth $239,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in MetLife by 0.5% during the first quarter. Vanguard Group Inc. now owns 57,252,623 shares of the financial services provider’s stock valued at $4,023,714,000 after buying an additional 300,898 shares during the period. Wellington Management Group LLP increased its stake in shares of MetLife by 1.0% in the 1st quarter. Wellington Management Group LLP now owns 40,275,298 shares of the financial services provider’s stock worth $2,830,548,000 after purchasing an additional 396,060 shares in the last quarter. State Street Corp raised its holdings in MetLife by 0.7% in the 4th quarter. State Street Corp now owns 36,281,345 shares of the financial services provider’s stock worth $2,267,221,000 after purchasing an additional 250,932 shares during the period. Bank of New York Mellon Corp lifted its position in MetLife by 93.3% during the first quarter. Bank of New York Mellon Corp now owns 11,393,164 shares of the financial services provider’s stock valued at $800,713,000 after purchasing an additional 5,499,871 shares in the last quarter. Finally, Norges Bank bought a new stake in MetLife during the fourth quarter valued at about $430,368,000. Hedge funds and other institutional investors own 86.53% of the company’s stock.

MetLife Stock Down 1.5 %

NYSE MET opened at $64.52 on Thursday. The stock has a 50 day moving average price of $64.51 and a 200-day moving average price of $65.59. MetLife, Inc. has a one year low of $57.05 and a one year high of $73.18. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market capitalization of $52.47 billion, a P/E ratio of 16.05, a P/E/G ratio of 0.50 and a beta of 1.05.

MetLife (NYSE:METGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The financial services provider reported $2.00 EPS for the quarter, beating the consensus estimate of $1.55 by $0.45. MetLife had a net margin of 5.26% and a return on equity of 12.90%. The business had revenue of $18.30 billion during the quarter, compared to analyst estimates of $16.53 billion. As a group, equities analysts predict that MetLife, Inc. will post 7.36 EPS for the current fiscal year.

MetLife Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 14th. Shareholders of record on Tuesday, August 9th were given a dividend of $0.50 per share. The ex-dividend date was Monday, August 8th. This represents a $2.00 dividend on an annualized basis and a yield of 3.10%. MetLife’s dividend payout ratio (DPR) is presently 49.75%.

Insider Activity

In related news, EVP Steven J. Goulart sold 4,060 shares of the stock in a transaction on Friday, August 19th. The stock was sold at an average price of $67.60, for a total transaction of $274,456.00. Following the sale, the executive vice president now owns 55,299 shares in the company, valued at approximately $3,738,212.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on MET. Evercore ISI raised their price objective on MetLife to $81.00 in a research note on Tuesday, August 9th. TheStreet raised shares of MetLife from a “c+” rating to a “b-” rating in a report on Thursday, September 15th. Credit Suisse Group increased their price objective on shares of MetLife from $68.00 to $77.00 and gave the stock an “outperform” rating in a research note on Monday, August 22nd. Raymond James started coverage on shares of MetLife in a research note on Wednesday. They set a “market perform” rating on the stock. Finally, Barclays set a $75.00 price target on MetLife in a research note on Tuesday, July 19th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, MetLife currently has an average rating of “Moderate Buy” and a consensus price target of $76.92.

MetLife Company Profile

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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.

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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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