Alberta Investment Management Corp Cuts Stake in MetLife, Inc. (NYSE:MET)

Alberta Investment Management Corp reduced its stake in MetLife, Inc. (NYSE:MET) by 17.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 900,043 shares of the financial services provider’s stock after selling 184,957 shares during the period. Alberta Investment Management Corp owned approximately 0.11% of MetLife worth $53,868,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Trust Advisors LP boosted its position in shares of MetLife by 10.5% during the second quarter. First Trust Advisors LP now owns 2,163,696 shares of the financial services provider’s stock valued at $129,497,000 after buying an additional 205,430 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of MetLife by 16.8% during the second quarter. Public Employees Retirement System of Ohio now owns 662,373 shares of the financial services provider’s stock valued at $39,643,000 after buying an additional 95,232 shares during the last quarter. Assetmark Inc. boosted its position in shares of MetLife by 17.5% during the second quarter. Assetmark Inc. now owns 1,972,804 shares of the financial services provider’s stock valued at $118,072,000 after buying an additional 294,510 shares during the last quarter. Tudor Investment Corp Et Al purchased a new stake in shares of MetLife during the second quarter valued at $6,421,000. Finally, Amundi purchased a new stake in shares of MetLife during the second quarter valued at $150,459,000. 74.60% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have issued reports on MET. Morgan Stanley raised their target price on MetLife from $74.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, October 14th. TheStreet raised MetLife from a “c+” rating to a “b” rating in a research report on Wednesday, August 4th. Finally, Barclays raised their target price on MetLife from $69.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 12th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $65.23.

Shares of NYSE MET traded down $0.12 during trading on Wednesday, hitting $65.34. The company had a trading volume of 55,781 shares, compared to its average volume of 4,973,619. The stock has a 50 day simple moving average of $62.19 and a 200 day simple moving average of $62.02. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.15 and a current ratio of 0.15. MetLife, Inc. has a 12 month low of $35.90 and a 12 month high of $67.68. The firm has a market capitalization of $55.99 billion, a P/E ratio of 13.12, a price-to-earnings-growth ratio of 1.02 and a beta of 1.31.

MetLife (NYSE:MET) last issued its earnings results on Wednesday, August 4th. The financial services provider reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.76. The company had revenue of $18.52 billion for the quarter, compared to the consensus estimate of $15.84 billion. MetLife had a return on equity of 10.78% and a net margin of 6.61%. The firm’s quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter last year, the company earned $0.83 EPS. As a group, analysts predict that MetLife, Inc. will post 7.98 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 14th. Investors of record on Tuesday, November 9th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.94%. The ex-dividend date is Monday, November 8th. MetLife’s dividend payout ratio (DPR) is presently 31.17%.

MetLife announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 4th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

MetLife Profile

MetLife, Inc provides insurance and financial services to individual and institutional customers. It offers life insurance, annuities, automobile and homeowner’s insurance and retail banking services to individuals as well as group insurance, reinsurance and retirement and savings products and services.

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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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