Regent Investment Management LLC lessened its stake in shares of MetLife, Inc. (NYSE:MET – Get Rating) by 1.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,415 shares of the financial services provider’s stock after selling 284 shares during the quarter. Regent Investment Management LLC’s holdings in MetLife were worth $1,282,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. New England Professional Planning Group Inc. purchased a new stake in MetLife in the 1st quarter worth $602,000. Gradient Investments LLC boosted its stake in shares of MetLife by 89.5% during the second quarter. Gradient Investments LLC now owns 449 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 212 shares in the last quarter. Riverview Trust Co bought a new position in shares of MetLife during the first quarter valued at approximately $36,000. Stonebridge Capital Advisors LLC lifted its position in MetLife by 91.1% during the fourth quarter. Stonebridge Capital Advisors LLC now owns 535 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 255 shares during the last quarter. Finally, Cornerstone Advisory LLC purchased a new stake in MetLife during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 86.53% of the company’s stock.
Insider Buying and Selling at MetLife
In related news, EVP Steven J. Goulart sold 4,060 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 55,299 shares of the company’s stock, valued at approximately $3,738,212.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.26% of the company’s stock.
MetLife Stock Down 3.4 %
MetLife (NYSE:MET – Get Rating) last released its earnings results on Wednesday, August 3rd. The financial services provider reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.45. The business had revenue of $18.30 billion for the quarter, compared to the consensus estimate of $16.53 billion. MetLife had a return on equity of 12.90% and a net margin of 5.26%. As a group, equities research analysts expect that MetLife, Inc. will post 7.36 EPS for the current year.
MetLife Dividend Announcement
The firm also recently announced 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. This represents a $2.00 annualized dividend and a dividend yield of 3.26%. The ex-dividend date was Monday, August 8th. MetLife’s payout ratio is 49.75%.
Analyst Upgrades and Downgrades
Several analysts recently commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of MetLife from $75.00 to $74.00 in a research report on Monday, July 11th. TheStreet upgraded shares of MetLife from a “c+” rating to a “b-” rating in a report on Thursday, September 15th. Wolfe Research upgraded shares of MetLife from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $70.00 to $74.00 in a report on Wednesday, June 22nd. Morgan Stanley boosted their price objective on shares of MetLife from $79.00 to $83.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 17th. Finally, Evercore ISI upped their price target on shares of MetLife to $81.00 in a research report on Tuesday, August 9th. Two analysts have 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 a consensus target price of $76.92.
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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