Letko Brosseau & Associates Inc. Lowers Position in Metlife Inc (NYSE:MET)

Letko Brosseau & Associates Inc. cut its stake in Metlife Inc (NYSE:MET) by 4.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,099 shares of the financial services provider’s stock after selling 600 shares during the period. Letko Brosseau & Associates Inc.’s holdings in Metlife were worth $651,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Jackson Grant Investment Advisers Inc. increased its position in shares of Metlife by 4,407.7% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 586 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 573 shares in the last quarter. Kavar Capital Partners LLC bought a new stake in shares of Metlife during the second quarter valued at approximately $25,000. Osborn Williams & Donohoe LLC bought a new stake in shares of Metlife during the first quarter valued at approximately $26,000. Meridian Wealth Management LLC bought a new stake in shares of Metlife during the first quarter valued at approximately $26,000. Finally, Advisory Alpha LLC bought a new stake in shares of Metlife during the first quarter valued at approximately $27,000. Institutional investors and hedge funds own 75.13% of the company’s stock.

A number of equities research analysts have commented on the stock. Zacks Investment Research raised shares of Metlife from a “sell” rating to a “hold” rating and set a $51.00 target price for the company in a research report on Friday, August 2nd. Morgan Stanley lifted their target price on shares of Metlife from $52.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 10th. Wells Fargo & Co lifted their target price on shares of Metlife from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, July 11th. Barclays lifted their target price on shares of Metlife from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 22nd. Finally, ValuEngine downgraded shares of Metlife from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. Metlife currently has an average rating of “Hold” and a consensus target price of $50.91.

Shares of Metlife stock traded up $0.07 on Thursday, hitting $44.94. 349,684 shares of the company’s stock were exchanged, compared to its average volume of 5,590,369. The firm has a 50-day moving average of $49.23. The company has a market capitalization of $42.97 billion, a PE ratio of 8.35, a PEG ratio of 0.97 and a beta of 1.09. Metlife Inc has a 1 year low of $37.76 and a 1 year high of $51.16. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.14 and a quick ratio of 0.14.

Metlife (NYSE:MET) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.07. The business had revenue of $16.45 billion for the quarter, compared to analysts’ expectations of $16.43 billion. Metlife had a net margin of 9.28% and a return on equity of 9.75%. The company’s revenue was down 22.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.30 EPS. Equities research analysts predict that Metlife Inc will post 5.65 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 6th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.92%. The ex-dividend date is Monday, August 5th. Metlife’s dividend payout ratio is presently 32.65%.

About Metlife

MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. 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, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.

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Institutional Ownership by Quarter for Metlife (NYSE:MET)

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