MAI Capital Management Reduces Position in Metlife Inc (MET)

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MAI Capital Management cut its position in shares of Metlife Inc (NYSE:MET) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 157,981 shares of the financial services provider’s stock after selling 2,885 shares during the period. MAI Capital Management’s holdings in Metlife were worth $6,487,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Banced Corp boosted its stake in Metlife by 3.0% during the fourth quarter. Banced Corp now owns 8,156 shares of the financial services provider’s stock valued at $335,000 after buying an additional 236 shares during the last quarter. Adirondack Trust Co. raised its position in Metlife by 3.2% during the fourth quarter. Adirondack Trust Co. now owns 8,196 shares of the financial services provider’s stock valued at $337,000 after purchasing an additional 256 shares during the period. Fulton Bank N.A. raised its position in Metlife by 4.1% during the fourth quarter. Fulton Bank N.A. now owns 6,637 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 262 shares during the period. Perkins Coie Trust Co raised its position in Metlife by 0.6% during the fourth quarter. Perkins Coie Trust Co now owns 45,126 shares of the financial services provider’s stock valued at $1,853,000 after purchasing an additional 265 shares during the period. Finally, Bank OZK raised its position in Metlife by 1.7% during the fourth quarter. Bank OZK now owns 16,388 shares of the financial services provider’s stock valued at $673,000 after purchasing an additional 270 shares during the period. 77.12% of the stock is owned by institutional investors.

Shares of NYSE MET traded down $0.11 during midday trading on Thursday, hitting $45.12. The company’s stock had a trading volume of 567,445 shares, compared to its average volume of 4,884,035. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.14 and a current ratio of 0.14. Metlife Inc has a 12-month low of $37.76 and a 12-month high of $49.50. The company has a market cap of $44.30 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 0.61 and a beta of 1.21.

Metlife (NYSE:MET) last issued its quarterly earnings results on Thursday, November 1st. The financial services provider reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.11. Metlife had a return on equity of 9.76% and a net margin of 7.62%. The firm had revenue of $16.40 billion for the quarter, compared to the consensus estimate of $15.88 billion. During the same period in the prior year, the business posted $1.09 earnings per share. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. Sell-side analysts predict that Metlife Inc will post 5.33 earnings per share for the current year.

Metlife announced that its Board of Directors has authorized a stock repurchase program on Thursday, November 1st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 5th will be issued a $0.42 dividend. The ex-dividend date is Monday, February 4th. This represents a $1.68 annualized dividend and a dividend yield of 3.72%. Metlife’s payout ratio is 37.33%.

In other Metlife news, Director Carlos M. Gutierrez purchased 6,400 shares of Metlife stock in a transaction dated Monday, December 17th. The shares were purchased at an average cost of $39.04 per share, for a total transaction of $249,856.00. Following the completion of the acquisition, the director now owns 4,668 shares in the company, valued at approximately $182,238.72. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.34% of the company’s stock.

A number of equities research analysts have issued reports on MET shares. Zacks Investment Research downgraded Metlife from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. UBS Group upped their price objective on Metlife from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, October 8th. Wells Fargo & Co set a $60.00 price objective on Metlife and gave the company a “buy” rating in a research report on Friday, November 2nd. Morgan Stanley upped their price objective on Metlife from $52.00 to $54.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 13th. Finally, Royal Bank of Canada decreased their price objective on Metlife from $57.00 to $50.00 and set an “outperform” rating on the stock in a research report on Monday, December 17th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $53.16.

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About Metlife

MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; 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, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.

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Institutional Ownership by Quarter for Metlife (NYSE:MET)

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