Raymond James Financial Services Advisors Inc. grew its holdings in MetLife, Inc. (NYSE:MET – Get Rating) by 1.4% during the 3rd quarter, Holdings Channel reports. The fund owned 361,920 shares of the financial services provider’s stock after buying an additional 5,070 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in MetLife were worth $21,998,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also modified their holdings of the business. Integrated Wealth Concepts LLC raised its holdings in MetLife by 13.8% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 3,315 shares of the financial services provider’s stock worth $208,000 after purchasing an additional 402 shares during the period. Virtus ETF Advisers LLC purchased a new stake in MetLife in the second quarter worth about $660,000. State of Alaska Department of Revenue raised its stake in shares of MetLife by 3.2% in the second quarter. State of Alaska Department of Revenue now owns 128,350 shares of the financial services provider’s stock worth $8,058,000 after buying an additional 3,955 shares during the period. Bartlett & Co. LLC lifted its position in shares of MetLife by 31.7% during the 2nd quarter. Bartlett & Co. LLC now owns 685 shares of the financial services provider’s stock valued at $43,000 after buying an additional 165 shares in the last quarter. Finally, Verity & Verity LLC boosted its stake in shares of MetLife by 5.3% in the second quarter. Verity & Verity LLC now owns 132,061 shares of the financial services provider’s stock worth $8,292,000 after acquiring an additional 6,686 shares during the period. Hedge funds and other institutional investors own 88.15% of the company’s stock.
Insider Buying and Selling at MetLife
In other MetLife news, EVP Susan M. Podlogar sold 3,000 shares of MetLife stock in a transaction that occurred on Tuesday, December 20th. The shares were sold at an average price of $71.91, for a total transaction of $215,730.00. Following the completion of the sale, the executive vice president now directly owns 46,193 shares in the company, valued at approximately $3,321,738.63. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Steven J. Goulart sold 29,401 shares of the firm’s stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $71.88, for a total transaction of $2,113,343.88. Following the sale, the executive vice president now directly owns 273,310 shares in the company, valued at approximately $19,645,522.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Susan M. Podlogar sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, December 20th. The shares were sold at an average price of $71.91, for a total value of $215,730.00. Following the sale, the executive vice president now owns 46,193 shares in the company, valued at $3,321,738.63. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,401 shares of company stock worth $2,706,824. Company insiders own 0.26% of the company’s stock.
MetLife Stock Down 0.8 %
MetLife (NYSE:MET – Get Rating) last released its earnings results on Wednesday, November 2nd. The financial services provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.03. MetLife had a net margin of 3.26% and a return on equity of 13.60%. The company had revenue of $23.69 billion during the quarter, compared to analysts’ expectations of $19.89 billion. Sell-side analysts forecast that MetLife, Inc. will post 7.1 earnings per share for the current year.
MetLife Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 14th. Shareholders of record on Tuesday, November 8th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.75%. The ex-dividend date was Monday, November 7th. MetLife’s payout ratio is 75.19%.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of MetLife from $75.00 to $74.00 and set an “overweight” rating on the stock in a report on Wednesday, October 12th. Jefferies Financial Group downgraded shares of MetLife from a “buy” rating to a “hold” rating and reduced their price target for the stock from $86.00 to $82.00 in a research note on Friday, December 9th. Morgan Stanley raised their target price on shares of MetLife from $85.00 to $87.00 and gave the company an “overweight” rating in a research report on Thursday, November 17th. JPMorgan Chase & Co. raised their target price on shares of MetLife from $74.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, November 3rd. Finally, Citigroup raised their target price on shares of MetLife from $77.00 to $84.00 in a research report on Wednesday, November 16th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, MetLife has a consensus rating of “Moderate Buy” and a consensus target price of $78.91.
MetLife Company Profile
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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