First Financial Corp IN reduced its stake in shares of Metlife Inc (NYSE:MET) by 27.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 883 shares of the financial services provider’s stock after selling 341 shares during the period. First Financial Corp IN’s holdings in Metlife were worth $38,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of MET. JNBA Financial Advisors purchased a new position in Metlife in the 4th quarter worth $26,000. Bruderman Asset Management LLC purchased a new position in shares of Metlife in the fourth quarter valued at about $27,000. Berman Capital Advisors LLC purchased a new position in shares of Metlife in the fourth quarter valued at about $31,000. Executive Wealth Management LLC purchased a new position in shares of Metlife in the fourth quarter valued at about $34,000. Finally, Country Trust Bank increased its position in shares of Metlife by 1,052.6% in the fourth quarter. Country Trust Bank now owns 876 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 800 shares during the period. 76.90% of the stock is owned by institutional investors.
In related news, EVP Steven J. Goulart sold 10,292 shares of the business’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $44.40, for a total transaction of $456,964.80. Following the sale, the executive vice president now owns 93,214 shares of the company’s stock, valued at $4,138,701.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John D. Mccallion sold 2,669 shares of the business’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $44.43, for a total transaction of $118,583.67. Following the sale, the chief financial officer now directly owns 20,538 shares in the company, valued at approximately $912,503.34. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.
Metlife (NYSE:MET) last announced its earnings results on Wednesday, May 1st. The financial services provider reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.18. The firm had revenue of $15.45 billion for the quarter, compared to analyst estimates of $15.95 billion. Metlife had a net margin of 7.53% and a return on equity of 10.24%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.36 EPS. Research analysts expect that Metlife Inc will post 5.48 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Tuesday, May 7th will be paid a dividend of $0.44 per share. This is a positive change from Metlife’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, May 6th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.67%. Metlife’s payout ratio is presently 31.17%.
A number of equities analysts have issued reports on the stock. ValuEngine upgraded shares of Metlife from a “sell” rating to a “hold” rating in a research report on Friday. Deutsche Bank boosted their price objective on shares of Metlife from $46.00 to $47.00 and gave the company a “hold” rating in a research report on Friday, April 12th. UBS Group boosted their price objective on shares of Metlife from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, April 9th. Sandler O’Neill cut shares of Metlife from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research report on Tuesday, March 19th. Finally, Argus restated a “buy” rating on shares of Metlife in a research report on Tuesday, February 12th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $52.76.
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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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