The Carnegie Capital Asset Management LLC Decreases Stake in MetLife Inc. (MET)

The Carnegie Capital Asset Management LLC Decreases Stake in MetLife Inc. (MET)

Carnegie Capital Asset Management LLC lowered its stake in MetLife Inc. (NYSE:MET) by 18.4% during the third quarter, Holdings Channel reports. The fund owned 23,690 shares of the company’s stock after selling 5,344 shares during the period. Carnegie Capital Asset Management LLC’s holdings in MetLife were worth $1,106,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth Bank of Australia increased its position in MetLife by 6.1% in the second quarter. Commonwealth Bank of Australia now owns 212,847 shares of the company’s stock valued at $8,480,000 after buying an additional 12,150 shares during the last quarter. Deprince Race & Zollo Inc. increased its position in MetLife by 6.7% in the second quarter. Deprince Race & Zollo Inc. now owns 722,124 shares of the company’s stock valued at $28,762,000 after buying an additional 45,507 shares during the last quarter. Richard Bernstein Advisors LLC increased its position in MetLife by 105.9% in the third quarter. Richard Bernstein Advisors LLC now owns 108,215 shares of the company’s stock valued at $4,808,000 after buying an additional 55,670 shares during the last quarter. Bridgeway Capital Management Inc. increased its position in MetLife by 6.2% in the second quarter. Bridgeway Capital Management Inc. now owns 628,134 shares of the company’s stock valued at $25,019,000 after buying an additional 36,600 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its position in MetLife by 116.9% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 270,300 shares of the company’s stock valued at $15,316,000 after buying an additional 145,652 shares during the last quarter. Institutional investors own 74.13% of the company’s stock.

MetLife Inc. (NYSE:MET) traded down 0.07% during trading on Thursday, hitting $54.02. The company’s stock had a trading volume of 4,851,418 shares. The firm has a market cap of $59.38 billion, a PE ratio of 16.60 and a beta of 1.69. MetLife Inc. has a one year low of $35.00 and a one year high of $58.09. The company has a 50-day moving average of $54.96 and a 200 day moving average of $47.42.

MetLife (NYSE:MET) last issued its earnings results on Wednesday, November 2nd. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. The firm earned $17.70 billion during the quarter, compared to the consensus estimate of $17.03 billion. MetLife had a net margin of 5.58% and a return on equity of 6.99%. The company’s revenue was down 99.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 earnings per share. On average, equities analysts forecast that MetLife Inc. will post $4.65 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 13th. Investors of record on Monday, February 6th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, February 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.96%. MetLife’s payout ratio is currently 49.23%.

Several brokerages have issued reports on MET. Deutsche Bank AG reaffirmed a “hold” rating and set a $44.00 target price on shares of MetLife in a research report on Saturday, October 8th. FBR & Co reaffirmed a “buy” rating on shares of MetLife in a research report on Thursday, November 3rd. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $51.00 target price on shares of MetLife in a research report on Friday, November 4th. Zacks Investment Research cut MetLife from a “hold” rating to a “sell” rating in a research report on Tuesday, January 3rd. Finally, TheStreet raised MetLife from a “hold” rating to a “buy” rating in a research report on Friday, October 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. MetLife presently has an average rating of “Buy” and a consensus target price of $51.69.

In related news, EVP Maria R. Morris sold 2,200 shares of the business’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $47.33, for a total transaction of $104,126.00. Following the completion of the transaction, the executive vice president now owns 109,809 shares in the company, valued at $5,197,259.97. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Peter M. Carlson sold 23,636 shares of the business’s stock in a transaction on Friday, December 23rd. The stock was sold at an average price of $54.32, for a total transaction of $1,283,907.52. Following the transaction, the executive vice president now owns 39,914 shares of the company’s stock, valued at approximately $2,168,128.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,083 shares of company stock valued at $5,126,315. Insiders own 0.27% of the company’s stock.

MetLife Company Profile

MetLife, Inc (MetLife) is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include Retail; Group, Voluntary & Worksite Benefits; Corporate Benefit Funding; Latin America (collectively, the Americas); Asia, and Europe, the Middle East and Africa (EMEA).

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