MetLife, Inc. $MET Shares Sold by Chevy Chase Trust Holdings LLC

Key Points

• Chevy Chase Trust Holdings LLC reduced its stake in MetLife, Inc. by 1.9%, now holding 299,503 shares valued at approximately $24 million.
• MetLife reported $2.02 earnings per share for the most recent quarter, which fell short of analysts' expectations of $2.32, accompanied by a 2.7% decline in revenue year-over-year.
• The company declared a quarterly dividend of $0.5675 per share, with an annualized yield of approximately 2.9%, payable on December 9th to investors of record on November 4th.

Chevy Chase Trust Holdings LLC cut its stake in MetLife, Inc. (NYSE:MET - Free Report) by 1.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 299,503 shares of the financial services provider's stock after selling 5,917 shares during the period. Chevy Chase Trust Holdings LLC's holdings in MetLife were worth $24,086,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Csenge Advisory Group grew its stake in shares of MetLife by 1.0% in the first quarter. Csenge Advisory Group now owns 13,647 shares of the financial services provider's stock worth $1,096,000 after purchasing an additional 131 shares in the last quarter. Delta Investment Management LLC grew its stake in shares of MetLife by 0.9% in the first quarter. Delta Investment Management LLC now owns 14,265 shares of the financial services provider's stock worth $1,145,000 after purchasing an additional 133 shares in the last quarter. Ignite Planners LLC grew its stake in shares of MetLife by 2.2% in the second quarter. Ignite Planners LLC now owns 6,366 shares of the financial services provider's stock worth $491,000 after purchasing an additional 136 shares in the last quarter. Glenview Trust co grew its stake in shares of MetLife by 0.4% in the first quarter. Glenview Trust co now owns 38,333 shares of the financial services provider's stock worth $3,078,000 after purchasing an additional 141 shares in the last quarter. Finally, My Legacy Advisors LLC grew its stake in shares of MetLife by 1.2% in the second quarter. My Legacy Advisors LLC now owns 14,000 shares of the financial services provider's stock worth $1,097,000 after purchasing an additional 164 shares in the last quarter. Institutional investors own 94.99% of the company's stock.

MetLife Trading Up 0.9%

NYSE:MET opened at $78.55 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.57. MetLife, Inc. has a 1-year low of $65.21 and a 1-year high of $89.05. The firm has a market capitalization of $52.24 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 0.71 and a beta of 0.86. The stock has a fifty day simple moving average of $80.20 and a 200 day simple moving average of $78.08.

MetLife (NYSE:MET - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share for the quarter, missing analysts' consensus estimates of $2.32 by ($0.30). MetLife had a net margin of 5.83% and a return on equity of 19.88%. The company had revenue of $17.34 billion during the quarter, compared to analyst estimates of $18.58 billion. During the same quarter last year, the business earned $2.28 EPS. The company's revenue for the quarter was down 2.7% compared to the same quarter last year. Sell-side analysts forecast that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 4th will be given a $0.5675 dividend. The ex-dividend date is Tuesday, November 4th. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.9%. MetLife's dividend payout ratio (DPR) is 38.47%.

Analysts Set New Price Targets

MET has been the subject of several recent analyst reports. Wells Fargo & Company increased their price target on MetLife from $95.00 to $96.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 8th. Jefferies Financial Group raised their target price on MetLife from $100.00 to $103.00 and gave the company a "buy" rating in a research note on Monday, August 11th. UBS Group decreased their target price on MetLife from $94.00 to $91.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. JPMorgan Chase & Co. raised their target price on MetLife from $86.00 to $95.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of MetLife in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, MetLife currently has a consensus rating of "Moderate Buy" and an average target price of $95.18.

About MetLife

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.

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