Pzena Investment Management LLC reduced its stake in MetLife, Inc. (NYSE: MET – Get Rating) by 5.9% in the third quarter, according to its latest disclosure to the SEC. The company owned 4,749,119 shares of the financial services provider after selling his 298,154 shares during this period. MetLife represents approximately 1.4% of his Pzena Investment Management LLC holding, making it the 24th largest holding. Pzena Investment Management LLC owned approximately 0.58% of his MetLife worth $288,651,000 as of the latest SEC filing.
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Several other hedge funds and other institutional investors have also increased or decreased their stakes in the MET recently. Synovus Financial Corp boosted his MetLife position by 11.4% in the first quarter. Synovus Financial Corp now owns 17,847 shares of the financial services provider worth $1,260,000 after purchasing an additional 1,829 of his shares last quarter. Brighton Jones LLC purchased approximately $225,000 worth of new MetLife stock in the first quarter. Baird Financial Group increased its MetLife holding by 179.7% in the first quarter. Baird Financial Group Inc. now owns 540,081 shares of the financial services provider worth $37,957,000 after acquiring an additional 346,999 shares of him last quarter. Zions Bancorporation NA boosted his MetLife stock position by 937.3% in the first quarter. Zions Bancorporation NA now owns 5,861 shares of the financial services provider worth $412,000 after purchasing an additional 5,296 shares during this period. Finally, Brown Brothers Harriman & Co. increased its MetLife position by 114.5% in the first quarter. Brown Brothers Harriman & Co. now owns 3,419 shares of the financial services provider worth $240,000 after purchasing an additional 1,825 shares during this period. Institutional investors and hedge funds own 88.15% of the company’s shares.
MetLife Insider Trading
In other MetLife news, EVP Bill Papas sold 5,000 shares of MetLife stock in a transaction that occurred Wednesday, December 7. The shares sold for an average of $75.55 for a total of $377,750.00. After the sale, the Executive Vice President now owns 65,147 shares of the Company stock valued at approximately $4,921,855.85. The sale was disclosed in filings with the Securities and Exchange Commission, available on his website at the SEC. In other news, EVP’s girlfriend Susan M. Podlogar sold 3,000 shares of the company’s stock in a transaction on Tuesday, December 20th. The shares sold for an average of $71.91 and the total transaction value was her $215,730.00. After the transaction, the Executive Vice President now directly owns 46,193 shares of the company, valued at approximately $3,321,738.63. The transaction was disclosed in SEC filings that can be accessed through the SEC’s website. EVP Bill Pappas also sold 5,000 shares of the company’s stock in a deal on Wednesday, December 7th. The shares sold for an average of $75.55, and the total transaction value he had was $377,750.00. Following the closing of the sale, the Executive Vice President now owns 65,147 shares of the Company’s stock valued at approximately $4,921,855.85. Please see here for the disclosure of this sale. Insiders sold a total of 37,401 shares worth $2,706,824 in the last 90 days. 0.26% of the shares are currently owned by internal parties.
MetLife stock performance
The NYSE MET fell $0.30 during Tuesday’s trading hours to reach $70.39. The company had a trading volume of 985,807 shares and an average trading volume of 3,622,480 shares for him. His 50-day moving average for this business is $73.29 and his 200-day moving average is $68.38. The company has an equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. His one-year low is $57.41 and his one-year high is $77.36 on MetLife, Inc. The company has a market capitalization of $55.23 billion, a PE ratio of 26.58, a P/E ratio of 2.13, and a beta of 1.07.
MetLife (NYSE: MET – Get Rating) last reported quarterly results on Wednesday, November 2nd. The financial services provider posted his earnings per share (EPS) of $1.21 for the quarter, $0.03 above analyst consensus expectations of $1.18. MetLife’s return on equity was 13.60% and net profit margin was 3.26%. The company’s revenue for the quarter was $23.69 billion, compared to consensus expectations of $19.89 billion. As a group, the equity research analyst expects MetLife, Inc. to post his 7.04 EPS this year.
MetLife Dividend Notice
The company also recently announced a quarterly dividend payable on Tuesday, March 14th. Investors who register on Tuesday, February 7th will receive a $0.50 dividend. The ex-dividend date is Monday, February 6. This represents his $2.00 dividend and his 2.84% yield on an annualized basis. MetLife’s Dividend Payout Ratio (DPR) is 75.19%.
Analyst upgrades and downgrades
MET has been the subject of several research analyst reports. Wells Fargo & Company, in a research report on Wednesday, Jan. 18, raised MetLife’s price target from $81.00 to $83.00, giving the stock an “overweight” rating. StockNews.com began reporting on his MetLife stock in an investigative report on Wednesday, October 12th. They put a “Hold” rating on the stock. Morgan Stanley raised its price target for MetLife from $87.00 for her to $88.00 for his, in a report on Tuesday, Jan. 10, giving the company an “overweight” rating. JPMorgan Chase & Co raised its price target on MetLife shares from $77.00 to $80.00 in a report on Friday, Jan. 6, giving the stock an “overweight” rating. Finally, Jefferies Financial Group downgraded MetLife’s stock from a ‘buy’ rating to a ‘hold’ rating in a research report on Friday, Dec. 9, and lowered the company’s price target from $86.00 to $82.00. lowered to Four investment analysts rated the stock as a hold and nine rated it as a buy. According to MarketBeat.com data, the company’s current average rating is “moderate buy” with an average target price of $80.18.
MetLife, Inc., a financial services company, provides insurance, annuities, employee benefits, and wealth management services worldwide. It works through 5 segments. Asia; Latin America; Europe, Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-term and long-term disability, personal disability, pet insurance, accidental death and amputation, sight, accident and health coverage, and prepaid legal plans. Arrangements for administrative services only to employers. General and Individual Accounts, Synthetic Guaranteed Interest Rate Agreements, and Private Floating Rate Financing Agreements.
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