Brave Asset Management Inc. Has $3.15 Million Stake in MetLife, Inc. (MET)
Brave Asset Management Inc. trimmed its stake in MetLife, Inc. (NYSE:MET) by 4.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,602 shares of the financial services provider’s stock after selling 2,803 shares during the quarter. MetLife makes up 1.7% of Brave Asset Management Inc.’s portfolio, making the stock its 14th biggest holding. Brave Asset Management Inc.’s holdings in MetLife were worth $3,148,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ballentine Partners LLC purchased a new stake in shares of MetLife in the first quarter valued at $265,000. Skandinaviska Enskilda Banken AB publ grew its position in shares of MetLife by 0.3% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 156,115 shares of the financial services provider’s stock valued at $8,246,000 after purchasing an additional 502 shares during the period. Sowell Financial Services LLC grew its position in shares of MetLife by 8.5% in the first quarter. Sowell Financial Services LLC now owns 10,634 shares of the financial services provider’s stock valued at $537,000 after purchasing an additional 829 shares during the period. Aviance Capital Management LLC grew its position in shares of MetLife by 4.6% in the first quarter. Aviance Capital Management LLC now owns 9,389 shares of the financial services provider’s stock valued at $496,000 after purchasing an additional 416 shares during the period. Finally, Aldebaran Financial Inc. grew its position in shares of MetLife by 1.2% in the first quarter. Aldebaran Financial Inc. now owns 34,321 shares of the financial services provider’s stock valued at $1,813,000 after purchasing an additional 400 shares during the period. 76.37% of the stock is owned by institutional investors.
A number of brokerages have recently commented on MET. Langen Mcalenn reaffirmed a “buy” rating on shares of MetLife in a research report on Wednesday, August 16th. ValuEngine raised MetLife from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 11th. Zacks Investment Research downgraded MetLife from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. BidaskClub raised MetLife from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Finally, Argus lowered their price target on MetLife from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. MetLife presently has an average rating of “Buy” and an average target price of $58.40.
In other MetLife news, insider Christopher G. Townsend sold 55,712 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $54.29, for a total transaction of $3,024,604.48. Following the transaction, the insider now owns 25,181 shares in the company, valued at $1,367,076.49. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Christopher G. Townsend sold 82,731 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $54.60, for a total value of $4,517,112.60. Following the transaction, the insider now owns 49,660 shares in the company, valued at approximately $2,711,436. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.
Shares of MetLife, Inc. (MET) traded up $0.01 on Tuesday, hitting $53.62. The company’s stock had a trading volume of 4,118,600 shares, compared to its average volume of 5,744,903. The firm has a market capitalization of $56,360.00, a PE ratio of 10.31, a PEG ratio of 1.35 and a beta of 1.49. MetLife, Inc. has a 12 month low of $44.26 and a 12 month high of $55.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.16.
MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.19. The company had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.47 billion. MetLife had a positive return on equity of 8.81% and a negative net margin of 0.75%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.28 earnings per share. analysts predict that MetLife, Inc. will post 4.43 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Monday, November 6th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Friday, November 3rd. MetLife’s dividend payout ratio is presently 347.83%.
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MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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