Stocks: Cullen Frost Bankers Inc. Sells 1,423 Shares of Metlife Inc (MET)

Stocks: Cullen Frost Bankers Inc. Sells 1,423 Shares of Metlife Inc (MET)

Cullen Frost Bankers Inc. decreased its position in shares of Metlife Inc (NYSE:MET) by 4.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,630 shares of the financial services provider’s stock after selling 1,423 shares during the period. Cullen Frost Bankers Inc.’s holdings in Metlife were worth $1,670,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. Alpha Windward LLC raised its position in shares of Metlife by 0.9% in the first quarter. Alpha Windward LLC now owns 3,297 shares of the financial services provider’s stock valued at $174,000 after buying an additional 29 shares in the last quarter. Wesbanco Bank Inc. raised its position in shares of Metlife by 0.9% in the fourth quarter. Wesbanco Bank Inc. now owns 7,476 shares of the financial services provider’s stock valued at $403,000 after buying an additional 70 shares in the last quarter. Waldron LP raised its position in shares of Metlife by 1.4% in the third quarter. Waldron LP now owns 6,177 shares of the financial services provider’s stock valued at $274,000 after buying an additional 88 shares in the last quarter. Sky Investment Group LLC raised its position in shares of Metlife by 0.6% in the first quarter. Sky Investment Group LLC now owns 15,944 shares of the financial services provider’s stock valued at $842,000 after buying an additional 101 shares in the last quarter. Finally, Chesley Taft & Associates LLC raised its position in shares of Metlife by 0.4% in the first quarter. Chesley Taft & Associates LLC now owns 38,180 shares of the financial services provider’s stock valued at $2,017,000 after buying an additional 170 shares in the last quarter. Institutional investors and hedge funds own 74.92% of the company’s stock.

Shares of Metlife Inc (NYSE:MET) opened at 51.2986 on Friday. Metlife Inc has a 12 month low of $36.17 and a 12 month high of $58.09. The stock’s market cap is $55.19 billion. The firm has a 50-day moving average price of $52.15 and a 200-day moving average price of $53.04.

Metlife (NYSE:MET) last announced its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $1.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.19. The company had revenue of $16.27 billion for the quarter, compared to analyst estimates of $17.02 billion. Metlife had a net margin of 1.30% and a return on equity of 7.17%. Metlife’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same quarter last year, the business earned $1.20 EPS. Equities analysts expect that Metlife Inc will post $5.36 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 13th. Shareholders of record on Monday, May 8th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, May 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.10%. Metlife’s dividend payout ratio (DPR) is presently 262.30%.

Several equities research analysts have commented on MET shares. Deutsche Bank AG upgraded Metlife from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Monday, January 23rd. Citigroup Inc started coverage on Metlife in a research note on Thursday, January 26th. They set a “sell” rating and a $51.00 price objective for the company. FBR & Co reiterated a “hold” rating on shares of Metlife in a research note on Thursday, February 2nd. Royal Bank of Canada reiterated a “buy” rating and set a $61.00 price objective on shares of Metlife in a research note on Monday, February 6th. Finally, Zacks Investment Research upgraded Metlife from a “sell” rating to a “hold” rating in a research note on Wednesday, February 15th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $55.57.

In other Metlife news, Director James M. Kilts bought 17,205 shares of Metlife stock in a transaction that occurred on Wednesday, March 22nd. The shares were acquired at an average price of $51.13 per share, for a total transaction of $879,691.65. Following the acquisition, the director now owns 59,443 shares of the company’s stock, valued at approximately $3,039,320.59. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director James M. Kilts bought 2,795 shares of Metlife stock in a transaction that occurred on Wednesday, March 1st. The shares were acquired at an average price of $54.17 per share, for a total transaction of $151,405.15. Following the acquisition, the director now directly owns 41,951 shares in the company, valued at approximately $2,272,485.67. The disclosure for this purchase can be found here. 0.27% of the stock is owned by company insiders.

Metlife Company Profile

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; Brighthouse Financial, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.

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