Bank of New York Mellon Corp Sells 753,757 Shares of MetLife, Inc. $MET

Bank of New York Mellon Corp trimmed its stake in MetLife, Inc. (NYSE:MET) by 8.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,109,078 shares of the financial services provider’s stock after selling 753,757 shares during the period. Bank of New York Mellon Corp owned 1.21% of MetLife worth $652,132,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Quaker Wealth Management LLC raised its position in shares of MetLife by 198.2% in the 2nd quarter. Quaker Wealth Management LLC now owns 333 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 672 shares in the last quarter. Motco raised its position in shares of MetLife by 105.5% in the 1st quarter. Motco now owns 413 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 212 shares in the last quarter. GFG Capital LLC purchased a new position in MetLife during the 2nd quarter worth $38,000. Abound Wealth Management grew its stake in MetLife by 652.3% during the 2nd quarter. Abound Wealth Management now owns 489 shares of the financial services provider’s stock worth $39,000 after buying an additional 424 shares during the last quarter. Finally, Legend Financial Advisors Inc. purchased a new position in MetLife during the 2nd quarter worth $40,000. 94.99% of the stock is owned by institutional investors.

MetLife Stock Down 0.8%

MetLife stock opened at $79.21 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.16 and a current ratio of 0.16. The business’s 50-day simple moving average is $80.32 and its two-hundred day simple moving average is $78.72. The company has a market cap of $52.67 billion, a PE ratio of 13.42, a PEG ratio of 0.70 and a beta of 0.86. MetLife, Inc. has a fifty-two week low of $65.21 and a fifty-two week high of $89.05.

MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($0.30). The firm had revenue of $17.34 billion for the quarter, compared to analysts’ expectations of $18.58 billion. MetLife had a net margin of 5.83% and a return on equity of 19.88%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.28 EPS. Equities analysts anticipate that MetLife, Inc. will post 9.65 EPS for the current year.

MetLife Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 4th will be paid a dividend of $0.5675 per share. This represents a $2.27 annualized dividend and a yield of 2.9%. The ex-dividend date is Tuesday, November 4th. MetLife’s payout ratio is presently 38.47%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods dropped their target price on MetLife from $94.00 to $92.00 and set an “outperform” rating on the stock in a research note on Monday, August 11th. Weiss Ratings restated a “buy (b)” rating on shares of MetLife in a research note on Wednesday, October 8th. Jefferies Financial Group boosted their target price on MetLife from $100.00 to $103.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Cowen restated a “buy” rating on shares of MetLife in a research note on Friday, August 22nd. Finally, JPMorgan Chase & Co. boosted their target price on MetLife from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.18.

MetLife Company Profile

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; 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, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.