Metlife Inc (NYSE:MET) Shares Bought by DAVENPORT & Co LLC

DAVENPORT & Co LLC increased its holdings in Metlife Inc (NYSE:MET) by 5.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,218 shares of the financial services provider’s stock after purchasing an additional 5,294 shares during the period. DAVENPORT & Co LLC’s holdings in Metlife were worth $4,479,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Ronna Sue Cohen raised its position in shares of Metlife by 4,021.5% during the first quarter. Ronna Sue Cohen now owns 2,686,512 shares of the financial services provider’s stock valued at $2,687,000 after buying an additional 2,621,329 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in Metlife in the first quarter worth about $202,000. Northpointe Capital LLC acquired a new position in Metlife in the first quarter worth about $5,104,000. Cohen Klingenstein LLC raised its position in Metlife by 702.7% in the first quarter. Cohen Klingenstein LLC now owns 64,213 shares of the financial services provider’s stock worth $2,734,000 after purchasing an additional 56,213 shares in the last quarter. Finally, Pratt Collard Advisory Partners LLC raised its position in Metlife by 44.0% in the first quarter. Pratt Collard Advisory Partners LLC now owns 25,435 shares of the financial services provider’s stock worth $1,083,000 after purchasing an additional 7,775 shares in the last quarter. Institutional investors own 77.38% of the company’s stock.

In other Metlife news, CFO John D. Mccallion sold 2,669 shares of the firm’s stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $44.43, for a total value of $118,583.67. Following the transaction, the chief financial officer now directly owns 20,538 shares of the company’s stock, valued at $912,503.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Steven J. Goulart sold 10,292 shares of the firm’s stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $44.40, for a total transaction of $456,964.80. Following the completion of the transaction, the executive vice president now directly owns 93,214 shares in the company, valued at $4,138,701.60. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Several research firms recently issued reports on MET. ValuEngine raised shares of Metlife from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. UBS Group increased their price target on shares of Metlife from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 9th. Deutsche Bank increased their price target on shares of Metlife from $46.00 to $47.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Argus reissued a “buy” rating on shares of Metlife in a research report on Tuesday, February 12th. Finally, Sandler O’Neill lowered shares of Metlife from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research report on Tuesday, March 19th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $52.76.

NYSE MET opened at $47.48 on Friday. Metlife Inc has a 1-year low of $37.76 and a 1-year high of $48.92. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.14 and a quick ratio of 0.14. The company has a market cap of $44.82 billion, a PE ratio of 8.81, a PEG ratio of 1.02 and a beta of 1.21.

Metlife (NYSE:MET) last released its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.18. Metlife had a net margin of 7.56% and a return on equity of 10.20%. The business had revenue of $15.45 billion for the quarter, compared to analysts’ expectations of $15.95 billion. During the same period in the prior year, the firm earned $1.36 earnings per share. Metlife’s revenue was up 2.0% compared to the same quarter last year. Equities analysts predict that Metlife Inc will post 5.54 earnings per share for the current year.

The business also recently declared 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 boost from Metlife’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Monday, May 6th. Metlife’s dividend payout ratio is 32.65%.

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Metlife 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.

Read More: Intrinsic Value and Stock Selection

Institutional Ownership by Quarter for Metlife (NYSE:MET)

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