Natixis cut its holdings in shares of Metlife Inc (NYSE:MET) by 73.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 55,572 shares of the financial services provider’s stock after selling 155,757 shares during the quarter. Natixis’ holdings in Metlife were worth $2,423,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MET. US Bancorp DE raised its stake in shares of Metlife by 37.6% during the first quarter. US Bancorp DE now owns 210,612 shares of the financial services provider’s stock worth $9,665,000 after acquiring an additional 57,542 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Metlife by 12.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 81,370 shares of the financial services provider’s stock worth $3,734,000 after acquiring an additional 9,239 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of Metlife during the first quarter worth approximately $2,440,000. Cetera Advisor Networks LLC raised its stake in shares of Metlife by 43.6% during the first quarter. Cetera Advisor Networks LLC now owns 7,356 shares of the financial services provider’s stock worth $341,000 after acquiring an additional 2,233 shares in the last quarter. Finally, Glen Harbor Capital Management LLC raised its stake in shares of Metlife by 103.1% during the first quarter. Glen Harbor Capital Management LLC now owns 48,804 shares of the financial services provider’s stock worth $2,240,000 after acquiring an additional 24,780 shares in the last quarter. 77.42% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE MET opened at $46.19 on Tuesday. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.29. Metlife Inc has a 52 week low of $43.09 and a 52 week high of $55.91. The firm has a market capitalization of $46.29 billion, a P/E ratio of 10.26, a PEG ratio of 0.71 and a beta of 1.23.

Metlife (NYSE:MET) last issued its earnings results on Wednesday, August 1st. The financial services provider reported $1.30 EPS for the quarter, topping the consensus estimate of $1.17 by $0.13. Metlife had a net margin of 6.12% and a return on equity of 9.17%. The company had revenue of $21.22 billion for the quarter, compared to the consensus estimate of $15.65 billion. During the same period in the previous year, the firm earned $1.04 earnings per share. The firm’s revenue for the quarter was up 36.8% on a year-over-year basis. analysts anticipate that Metlife Inc will post 5.22 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 13th. Investors of record on Monday, August 6th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Friday, August 3rd. Metlife’s payout ratio is 37.33%.

Metlife declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 22nd that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Several research analysts have commented on the stock. Sandler O’Neill reissued a “hold” rating and set a $50.00 price target on shares of Metlife in a research note on Thursday, August 2nd. ValuEngine downgraded shares of Metlife from a “hold” rating to a “sell” rating in a research note on Saturday, June 2nd. Zacks Investment Research downgraded shares of Metlife from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. B. Riley decreased their price target on shares of Metlife from $58.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, July 16th. Finally, Goldman Sachs Group downgraded shares of Metlife from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $55.91 to $61.00 in a research note on Monday, June 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Metlife presently has a consensus rating of “Hold” and a consensus price target of $54.80.

In other Metlife news, Chairman Steven A. Kandarian sold 85,683 shares of the business’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $46.93, for a total transaction of $4,021,103.19. Following the transaction, the chairman now directly owns 585,005 shares of the company’s stock, valued at approximately $27,454,284.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Steven A. Kandarian sold 42,805 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $47.03, for a total transaction of $2,013,119.15. Following the transaction, the chairman now directly owns 559,097 shares in the company, valued at $26,294,331.91. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Metlife Company Profile

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.

Read More: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

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Institutional Ownership by Quarter for Metlife (NYSE:MET)

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