Todays Report: Today: MetLife Inc. (MET) Stake Decreased by Pzena Investment Management LLC

Today: MetLife Inc. (MET) Stake Decreased by Pzena Investment Management LLC

Pzena Investment Management LLC decreased its stake in MetLife Inc. (NYSE:MET) by 3.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,935,485 shares of the company’s stock after selling 204,707 shares during the period. MetLife comprises 1.6% of Pzena Investment Management LLC’s holdings, making the stock its 25th largest position. Pzena Investment Management LLC owned 0.54% of MetLife worth $263,714,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. First Republic Investment Management Inc. boosted its stake in MetLife by 36.1% in the first quarter. First Republic Investment Management Inc. now owns 68,830 shares of the company’s stock valued at $3,024,000 after buying an additional 18,275 shares during the period. Fulton Bank N.A. purchased a new stake in MetLife during the second quarter valued at about $219,000. Park National Corp OH boosted its stake in MetLife by 7.9% in the second quarter. Park National Corp OH now owns 7,317 shares of the company’s stock valued at $292,000 after buying an additional 536 shares during the period. Carl Domino Inc boosted its stake in MetLife by 197.1% in the second quarter. Carl Domino Inc now owns 20,025 shares of the company’s stock valued at $798,000 after buying an additional 13,285 shares during the period. Finally, Osborn Rohs Williams & Donohoe Ltd boosted its stake in MetLife by 15.2% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 6,053 shares of the company’s stock valued at $241,000 after buying an additional 800 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

MetLife Inc. (NYSE:MET) traded down 1.80% during mid-day trading on Monday, reaching $54.45. 3,476,094 shares of the company were exchanged. The stock has a market capitalization of $59.85 billion, a P/E ratio of 16.73 and a beta of 1.66. The company’s 50 day moving average price is $49.49 and its 200-day moving average price is $44.38. MetLife Inc. has a 12 month low of $35.00 and a 12 month high of $55.49.

MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.04. MetLife had a net margin of 5.58% and a return on equity of 6.99%. The firm had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $17.03 billion. During the same period in the prior year, the firm posted $0.62 EPS. The firm’s revenue was down 99.9% compared to the same quarter last year. On average, equities analysts expect that MetLife Inc. will post $4.63 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 13th. Stockholders of record on Monday, November 7th will be given a $0.40 dividend. The ex-dividend date is Thursday, November 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.89%. MetLife’s payout ratio is currently 49.23%.

MET has been the subject of several recent analyst reports. TheStreet cut shares of MetLife from a “buy” rating to a “hold” rating in a research report on Wednesday, August 24th. FBR & Co boosted their price target on shares of MetLife from $51.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, August 29th. Argus reissued a “buy” rating and issued a $54.00 price target on shares of MetLife in a research report on Wednesday, September 7th. Wells Fargo & Co. reissued an “outperform” rating on shares of MetLife in a research report on Friday, September 23rd. Finally, Credit Suisse Group AG assumed coverage on shares of MetLife in a research report on Friday, October 7th. They issued a “neutral” rating and a $51.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $51.35.

In other news, EVP Frans Hijkoop sold 56,250 shares of the firm’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $51.48, for a total value of $2,895,750.00. Following the transaction, the executive vice president now directly owns 111,813 shares in the company, valued at approximately $5,756,133.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Maria R. Morris sold 2,200 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The stock was 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 disclosure for this sale can be found here. 0.27% of the stock is currently owned by insiders.

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