MetLife, Inc. $MET Stock Sold by Candriam S.C.A.

Key Points

• Candriam S.C.A. cut its MetLife stake by 36% in the third quarter, selling 44,938 shares and ending the period with 79,742 shares valued at about $7.5 million.
• Analyst sentiment remains positive: 14 analysts rated MetLife a Buy and one a Hold, with a consensus price target of $106.62.
• MetLife slightly beat quarterly EPS estimates and reported revenue up 18.2% year over year. The company also authorized up to $3 billion in share repurchases and declared an annualized dividend of $2.37 per share.

Candriam S.C.A. reduced its stake in shares of MetLife, Inc. (NYSE:MET - Free Report) by 36.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,742 shares of the financial services provider's stock after selling 44,938 shares during the quarter. Candriam S.C.A.'s holdings in MetLife were worth $7,536,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nykredit A S acquired a new position in shares of MetLife during the second quarter valued at $178,638,000. Two Sigma Securities LLC acquired a new stake in MetLife in the second quarter worth about $4,204,000. NewEdge Advisors LLC increased its position in MetLife by 20.1% in the second quarter. NewEdge Advisors LLC now owns 74,002 shares of the financial services provider's stock worth $6,261,000 after purchasing an additional 12,378 shares during the period. OMERS ADMINISTRATION Corp acquired a new stake in MetLife in the second quarter worth about $2,683,000. Finally, Bank of Nova Scotia bought a new stake in MetLife during the 2nd quarter worth about $14,182,000. Institutional investors and hedge funds own 94.99% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MET shares. Weiss Ratings restated a "buy (b)" rating on shares of MetLife in a research report on Friday, September 11th. Keefe, Bruyette & Woods raised their target price on shares of MetLife from $105.00 to $108.00 and gave the company an "outperform" rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. lifted their price target on shares of MetLife from $108.00 to $110.00 and gave the stock an "overweight" rating in a research report on Thursday, October 15th. Wells Fargo & Company boosted their price target on shares of MetLife from $109.00 to $110.00 and gave the stock an "overweight" rating in a research note on Monday, October 12th. Finally, UBS Group increased their price objective on shares of MetLife from $105.00 to $110.00 and gave the company a "buy" rating in a report on Tuesday, October 6th. Fourteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, MetLife currently has a consensus rating of "Moderate Buy" and an average target price of $106.62.

MetLife Stock Up 3.6%

Shares of MetLife stock opened at $101.80 on Tuesday. The business has a fifty day simple moving average of $98.26 and a 200 day simple moving average of $86.39. The stock has a market cap of $65.50 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 0.97 and a beta of 0.79. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.52. MetLife, Inc. has a 12 month low of $67.33 and a 12 month high of $106.72.

MetLife (NYSE:MET - Get Free Report) last released its earnings results on Wednesday, November 4th. The financial services provider reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.01. MetLife had a return on equity of 24.45% and a net margin of 6.21%. The firm had revenue of $20.52 billion for the quarter, compared to analyst estimates of $19.86 billion. During the same quarter in the prior year, the firm posted $2.34 earnings per share. The company's quarterly revenue was up 18.2% on a year-over-year basis. Research analysts predict that MetLife, Inc. will post 9.93 EPS for the current year.

MetLife declared that its board has authorized a stock repurchase program on Wednesday, August 5th that permits the company to buy back $3 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 4.8% of its stock through open market purchases. Share buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

MetLife Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Tuesday, November 3rd will be paid a $0.5925 dividend. 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 2.3%. MetLife's dividend payout ratio is 30.90%.

MetLife Profile

MetLife, Inc is a global financial services company best known for providing insurance, employee benefits and retirement-related products. Its offerings include life, dental and disability insurance, annuities, and products and services designed to help individuals and employers plan for financial protection and retirement.

The company serves individuals, businesses and institutions in the United States and international markets, including countries in Latin America, Asia, Europe and the Middle East.

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