MetLife, Inc. $MET Shares Sold by Meridian Investment Counsel Inc.

Key Points

• Meridian Investment Counsel reduced its MetLife stake by 25% in the third quarter, selling 10,925 shares and retaining 32,795 shares valued at approximately $3.09 million. Institutional investors collectively own 94.99% of MetLife.
• MetLife reported quarterly EPS of $2.43, exceeding the $2.30 consensus estimate, while revenue rose 10.5% year over year. The company also authorized a $3 billion share-buyback program, representing up to 4.8% of outstanding shares.
• MetLife declared a quarterly dividend of $0.5925 per share, equivalent to an annualized $2.37 dividend and a 2.4% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $105.06.

Meridian Investment Counsel Inc. cut its stake in MetLife, Inc. (NYSE:MET - Free Report) by 25.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,795 shares of the financial services provider's stock after selling 10,925 shares during the quarter. Meridian Investment Counsel Inc.'s holdings in MetLife were worth $3,088,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. CX Institutional lifted its stake in shares of MetLife by 1.3% in the 3rd quarter. CX Institutional now owns 8,672 shares of the financial services provider's stock valued at $817,000 after purchasing an additional 115 shares during the period. McGlone Suttner Wealth Management Inc. grew its position in MetLife by 0.6% during the third quarter. McGlone Suttner Wealth Management Inc. now owns 22,391 shares of the financial services provider's stock valued at $2,108,000 after buying an additional 124 shares during the period. Capital Analysts LLC increased its holdings in MetLife by 0.3% in the second quarter. Capital Analysts LLC now owns 38,262 shares of the financial services provider's stock valued at $3,238,000 after buying an additional 129 shares in the last quarter. Kathmere Capital Management LLC increased its holdings in MetLife by 2.4% in the first quarter. Kathmere Capital Management LLC now owns 5,813 shares of the financial services provider's stock valued at $411,000 after buying an additional 136 shares in the last quarter. Finally, Worth Asset Management LLC increased its holdings in MetLife by 3.1% in the second quarter. Worth Asset Management LLC now owns 4,551 shares of the financial services provider's stock valued at $385,000 after buying an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 94.99% of the company's stock.

MetLife Price Performance

Shares of NYSE MET opened at $99.77 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.20 and a current ratio of 0.20. The firm has a fifty day moving average of $96.80 and a 200 day moving average of $88.42. The firm has a market cap of $64.19 billion, a PE ratio of 19.11, a PEG ratio of 0.95 and a beta of 0.78. MetLife, Inc. has a one year low of $67.33 and a one year high of $101.44.

MetLife (NYSE:MET - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.13. The business had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $19.67 billion. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The company's revenue was up 10.5% compared to the same quarter last year. During the same period last year, the firm posted $2.02 earnings per share. As a group, research analysts predict that MetLife, Inc. will post 9.88 EPS for the current fiscal year.

MetLife declared that its Board of Directors has authorized a share buyback plan on Wednesday, August 5th that authorizes the company to buy back $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.8% of its stock through open market purchases. Share repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

MetLife Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Tuesday, November 3rd will be paid a dividend of $0.5925 per share. The ex-dividend date of this dividend is Tuesday, November 3rd. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.4%. MetLife's payout ratio is currently 45.40%.

Wall Street Analyst Weigh In

MET has been the topic of several recent analyst reports. Atlantic Securities set a $103.00 target price on shares of MetLife in a research note on Wednesday, July 15th. Morgan Stanley raised their target price on MetLife from $103.00 to $111.00 and gave the company an "overweight" rating in a research report on Monday, August 24th. Evercore restated a "mixed" rating on shares of MetLife in a research note on Monday, August 24th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of MetLife in a report on Friday, September 11th. Finally, Wall Street Zen raised MetLife from a "hold" rating to a "buy" rating in a report on Sunday, September 27th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, MetLife currently has an average rating of "Moderate Buy" and an average price target of $105.06.

MetLife Profile

MetLife, Inc is a global financial services company that provides insurance, employee benefits and retirement solutions. Its products and services include life insurance, dental and vision coverage, disability insurance, accident and health benefits, annuities, and savings and retirement products.

The company serves individuals, employers and institutions through group benefits, workplace solutions and individual insurance offerings. MetLife also provides investment and retirement services designed to help employers and employees prepare for long-term financial needs.

Founded in 1868, MetLife is headquartered in New York City and operates through businesses in the United States and international markets, including regions across Latin America, Asia and Europe.

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