Principal Street Partners LLC Has $661,000 Stock Position in MetLife, Inc. (NYSE:MET)

Principal Street Partners LLC lowered its holdings in MetLife, Inc. (NYSE:MET) by 9.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,703 shares of the financial services provider’s stock after selling 1,074 shares during the quarter. Principal Street Partners LLC’s holdings in MetLife were worth $661,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in MET. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of MetLife by 10.8% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 139,217 shares of the financial services provider’s stock worth $8,332,000 after purchasing an additional 13,619 shares in the last quarter. Mid Atlantic Financial Management Inc. ADV grew its holdings in shares of MetLife by 1.6% during the 2nd quarter. Mid Atlantic Financial Management Inc. ADV now owns 10,836 shares of the financial services provider’s stock worth $649,000 after purchasing an additional 169 shares in the last quarter. National Asset Management Inc. grew its holdings in shares of MetLife by 48.0% during the 2nd quarter. National Asset Management Inc. now owns 21,492 shares of the financial services provider’s stock worth $1,287,000 after purchasing an additional 6,968 shares in the last quarter. AGF Investments Inc. grew its holdings in shares of MetLife by 85.8% during the 2nd quarter. AGF Investments Inc. now owns 612,409 shares of the financial services provider’s stock worth $36,653,000 after purchasing an additional 282,845 shares in the last quarter. Finally, Moors & Cabot Inc. grew its holdings in shares of MetLife by 5.7% during the 2nd quarter. Moors & Cabot Inc. now owns 9,497 shares of the financial services provider’s stock worth $568,000 after purchasing an additional 508 shares in the last quarter. 88.86% of the stock is currently owned by institutional investors.

NYSE MET opened at $67.37 on Friday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $56.67 billion, a PE ratio of 11.10, a P/E/G ratio of 1.04 and a beta of 1.26. The stock has a 50-day simple moving average of $62.42 and a 200 day simple moving average of $61.75. MetLife, Inc. has a 12 month low of $47.69 and a 12 month high of $68.58.

MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, November 3rd. The financial services provider reported $2.39 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.73. MetLife had a return on equity of 11.62% and a net margin of 7.77%. The company had revenue of $17.09 billion during the quarter, compared to analysts’ expectations of $16.38 billion. During the same period in the prior year, the firm earned $1.73 earnings per share. As a group, sell-side analysts predict that MetLife, Inc. will post 8.45 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, March 14th. Investors of record on Tuesday, February 8th will be issued a dividend of $0.48 per share. The ex-dividend date is Monday, February 7th. This represents a $1.92 annualized dividend and a yield of 2.85%. MetLife’s payout ratio is presently 31.63%.

MET has been the topic of several recent analyst reports. Evercore ISI raised MetLife from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $67.00 to $75.00 in a research note on Wednesday, January 5th. Barclays boosted their price target on MetLife from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday. UBS Group boosted their price target on MetLife from $74.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday. Morgan Stanley boosted their price target on MetLife from $75.00 to $76.00 and gave the company an “overweight” rating in a research note on Friday, January 7th. Finally, The Goldman Sachs Group initiated coverage on MetLife in a research note on Thursday, December 2nd. They issued a “buy” rating and a $77.00 price target on the stock. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $71.38.

In related news, CEO Michel Khalaf sold 42,748 shares of the company’s stock in a transaction dated Tuesday, December 21st. The stock was sold at an average price of $60.74, for a total transaction of $2,596,513.52. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

MetLife Company 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.

Read More: Understanding each part of a balance sheet

Want to see what other hedge funds are holding MET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MetLife, Inc. (NYSE:MET).

Institutional Ownership by Quarter for MetLife (NYSE:MET)