MUFG Americas Holdings Corp lessened its stake in shares of Metlife Inc (NYSE:MET) by 29.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,843 shares of the financial services provider’s stock after selling 1,627 shares during the period. MUFG Americas Holdings Corp’s holdings in Metlife were worth $180,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of MET. FMR LLC increased its holdings in Metlife by 12.3% during the third quarter. FMR LLC now owns 52,498,328 shares of the financial services provider’s stock worth $2,452,721,000 after buying an additional 5,760,379 shares during the last quarter. Prudential Financial Inc. increased its holdings in Metlife by 23.3% during the third quarter. Prudential Financial Inc. now owns 4,581,324 shares of the financial services provider’s stock worth $214,040,000 after buying an additional 866,060 shares during the last quarter. Artemis Investment Management LLP purchased a new stake in Metlife during the third quarter worth about $36,988,000. Los Angeles Capital Management & Equity Research Inc. increased its holdings in Metlife by 829.1% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 868,606 shares of the financial services provider’s stock worth $40,581,000 after buying an additional 775,120 shares during the last quarter. Finally, Morgan Stanley increased its holdings in Metlife by 12.3% during the second quarter. Morgan Stanley now owns 6,357,267 shares of the financial services provider’s stock worth $277,177,000 after buying an additional 696,768 shares during the last quarter. Institutional investors and hedge funds own 77.33% of the company’s stock.
Shares of NYSE:MET opened at $38.89 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.14 and a quick ratio of 0.14. The stock has a market cap of $38.38 billion, a price-to-earnings ratio of 7.55, a price-to-earnings-growth ratio of 0.58 and a beta of 1.28. Metlife Inc has a twelve month low of $38.81 and a twelve month high of $55.21.
Metlife declared that its board has approved a share repurchase plan on Thursday, November 1st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 13th. Shareholders of record on Tuesday, November 6th were given a dividend of $0.42 per share. The ex-dividend date was Monday, November 5th. This represents a $1.68 dividend on an annualized basis and a yield of 4.32%. Metlife’s dividend payout ratio is presently 37.33%.
MET has been the subject of a number of research reports. Zacks Investment Research lowered shares of Metlife from a “buy” rating to a “hold” rating in a research report on Monday, November 19th. UBS Group increased their target price on shares of Metlife from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, October 8th. Wells Fargo & Co set a $60.00 target price on shares of Metlife and gave the stock a “buy” rating in a research report on Friday, November 2nd. Finally, Morgan Stanley increased their target price on shares of Metlife from $52.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $53.92.
Metlife Company Profile
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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