Evercore Wealth Management LLC reduced its stake in MetLife, Inc. (NYSE:MET) by 9.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,960 shares of the financial services provider’s stock after selling 1,085 shares during the quarter. Evercore Wealth Management LLC’s holdings in MetLife were worth $518,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the business. Bronfman E.L. Rothschild L.P. grew its holdings in shares of MetLife by 0.7% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,505 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 38 shares during the period. Forward Management LLC lifted its stake in MetLife by 0.4% during the 2nd quarter. Forward Management LLC now owns 9,661 shares of the financial services provider’s stock worth $531,000 after acquiring an additional 41 shares in the last quarter. Aspen Investment Management Inc lifted its stake in MetLife by 0.7% during the 2nd quarter. Aspen Investment Management Inc now owns 7,178 shares of the financial services provider’s stock worth $394,000 after acquiring an additional 50 shares in the last quarter. Atria Investments LLC lifted its stake in MetLife by 0.4% during the 2nd quarter. Atria Investments LLC now owns 18,986 shares of the financial services provider’s stock worth $1,043,000 after acquiring an additional 72 shares in the last quarter. Finally, Apriem Advisors lifted its stake in MetLife by 0.6% during the 2nd quarter. Apriem Advisors now owns 13,060 shares of the financial services provider’s stock worth $718,000 after acquiring an additional 74 shares in the last quarter. Institutional investors own 76.37% of the company’s stock.
Several equities analysts recently issued reports on MET shares. Royal Bank Of Canada reissued a “buy” rating and set a $56.00 target price on shares of MetLife in a research note on Wednesday, September 6th. UBS reaffirmed a “neutral” rating and issued a $49.00 price target (down previously from $57.00) on shares of MetLife in a research report on Friday, September 1st. ValuEngine lowered MetLife from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 26th. Zacks Investment Research raised MetLife from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Thursday, November 9th. Finally, Sandler O’Neill lowered MetLife from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $58.40.
MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.19. MetLife had a positive return on equity of 8.81% and a negative net margin of 0.75%. The business had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.47 billion. During the same quarter in the prior year, the business posted $1.28 EPS. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. analysts forecast that MetLife, Inc. will post 4.43 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Monday, November 6th will be issued a $0.40 dividend. The ex-dividend date is Friday, November 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.98%. MetLife’s payout ratio is currently 347.83%.
In related news, insider Christopher G. Townsend sold 82,731 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $54.60, for a total transaction of $4,517,112.60. Following the transaction, the insider now owns 49,660 shares in the company, valued at approximately $2,711,436. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher G. Townsend sold 55,712 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $54.29, for a total value of $3,024,604.48. Following the transaction, the insider now owns 25,181 shares in the company, valued at approximately $1,367,076.49. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.
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MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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