Whittier Trust Co. of Nevada Inc. Reduces Stake in Metlife Inc (NYSE:MET)

Whittier Trust Co. of Nevada Inc. lowered its position in Metlife Inc (NYSE:MET) by 5.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,409 shares of the financial services provider’s stock after selling 891 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Metlife were worth $766,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MET. Old Port Advisors boosted its position in Metlife by 4.1% in the 2nd quarter. Old Port Advisors now owns 4,996 shares of the financial services provider’s stock worth $252,000 after purchasing an additional 199 shares in the last quarter. Unison Advisors LLC raised its stake in shares of Metlife by 1.0% during the 2nd quarter. Unison Advisors LLC now owns 21,133 shares of the financial services provider’s stock worth $1,049,000 after buying an additional 200 shares during the period. Citizens Financial Group Inc RI raised its stake in shares of Metlife by 12.7% during the 1st quarter. Citizens Financial Group Inc RI now owns 1,945 shares of the financial services provider’s stock worth $83,000 after buying an additional 219 shares during the period. YorkBridge Wealth Partners LLC raised its stake in shares of Metlife by 2.7% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 8,566 shares of the financial services provider’s stock worth $365,000 after buying an additional 224 shares during the period. Finally, Parkside Financial Bank & Trust raised its stake in shares of Metlife by 14.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,849 shares of the financial services provider’s stock worth $79,000 after buying an additional 227 shares during the period. Hedge funds and other institutional investors own 75.75% of the company’s stock.

NYSE MET traded down $1.04 during mid-day trading on Friday, hitting $47.29. The stock had a trading volume of 9,084,518 shares, compared to its average volume of 4,049,191. The stock’s 50 day moving average is $49.75. Metlife Inc has a twelve month low of $37.76 and a twelve month 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. The company has a market capitalization of $45.93 billion, a PE ratio of 8.77, a price-to-earnings-growth ratio of 1.05 and a beta of 1.09.

Metlife (NYSE:MET) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.07. Metlife had a return on equity of 9.75% and a net margin of 9.28%. The firm had revenue of $16.45 billion during the quarter, compared to the consensus estimate of $16.43 billion. During the same period in the prior year, the company earned $1.30 EPS. The firm’s revenue was down 22.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Metlife Inc will post 5.63 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 6th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.72%. The ex-dividend date is Monday, August 5th. Metlife’s dividend payout ratio is currently 32.65%.

Several research analysts have recently weighed in on the company. ValuEngine downgraded Metlife from a “hold” rating to a “sell” rating in a research note on Thursday. Barclays upped their target price on Metlife from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 22nd. Deutsche Bank upped their target price on Metlife from $46.00 to $47.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. Wells Fargo & Co upped their target price on Metlife from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 11th. Finally, UBS Group upped their target price on Metlife from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $50.91.

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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