Have you found yourself holding MetLife stock and wondering, how do I turn this into cash? Perhaps you received it during MetLife's demutualization, inherited it, or simply held onto it as an investment. Whatever your reason, selling stock can seem like a daunting process, but with the right guidance, it's quite manageable. This comprehensive guide will walk you through each step to confidently sell your MetLife stock.
Understanding Your MetLife Stock
Before diving into the selling process, it's crucial to understand the nature of your MetLife stock. MetLife, Inc. (NYSE: MET) became a publicly traded company in April 2000 after demutualizing from a mutual insurance company. This means that former policyholders received shares of common stock or interests in the MetLife Policyholder Trust. Your approach to selling might vary slightly depending on how you hold your shares.
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Directly Registered Shares: If you received physical stock certificates or hold your shares directly with MetLife's transfer agent (which is Computershare), you are a "registered shareholder."
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Brokerage Account Shares: If you purchased MetLife stock through a brokerage firm, or if your demutualization shares were transferred to a brokerage account, then your shares are held by your broker "in street name."
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MetLife Policyholder Trust Interests: If you were an eligible policyholder during demutualization and received interests in the MetLife Policyholder Trust, these interests represent beneficial ownership of MetLife shares held by a trustee.
Knowing how your shares are held is the first critical step in determining the most straightforward selling path.
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| How Can I Sell My Metlife Stock |
Step 1: Identify How Your Shares Are Held (And Engage with Your Situation!)
Let's begin by figuring this out together!
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Do you have physical stock certificates? Look for official MetLife stock certificates. These typically state your name as the registered owner.
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Do you receive statements directly from Computershare? Computershare is MetLife's transfer agent. If you get mail or emails from them regarding your MetLife shares, you likely hold directly registered shares.
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Do you see MetLife (MET) listed in your online brokerage account? If you have an investment account with a firm like Charles Schwab, Fidelity, Vanguard, or a local broker, log in and check your holdings.
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Were you a MetLife policyholder around 2000, and did you receive documents about "demutualization" or the "MetLife Policyholder Trust" but never opened a brokerage account? If so, you likely hold interests in the MetLife Policyholder Trust.
Once you've identified your situation, proceed to the relevant step below.
Step 2: Selling Directly Registered MetLife Shares (Through Computershare)
If you hold physical stock certificates or receive statements directly from Computershare, you are a registered shareholder. Computershare offers various services, including a direct stock purchase and sale program.
Sub-heading: Option A: Selling Through Computershare's Program
Computershare, as MetLife's transfer agent, facilitates sales for registered shareholders. This can often be a convenient option, especially if you don't have an existing brokerage account.
Tip: Share one insight from this post with a friend.
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Contact Computershare:
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Website: Visit the Computershare Investor Center website for MetLife. You can typically find forms for selling shares there.
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Phone: Call Computershare directly. Their toll-free number for MetLife shareholder inquiries is generally 1-800-649-3593 (within the United States and Canada) or 1-201-680-6578 (direct dial), available Monday-Friday, 8:00 am to 6:30 pm Eastern Time.
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Mail: You can also write to them. Check the MetLife investor relations website or a Computershare statement for the correct mailing address (often a PO Box in Providence, RI, or a physical address in Canton, MA).
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Request Sale Information and Forms:
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Inform them you wish to sell your MetLife shares. They will provide you with the necessary forms, which may include a "Notice to Withdraw" form for transferring shares out of the MetLife Trust Purchase & Sales Program, or other specific sale instructions.
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Be prepared to provide your account number and personal identification.
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Complete and Submit Forms:
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Carefully fill out all required forms. Ensure your signature is medallion guaranteed if required. A medallion signature guarantee is a special stamp from a financial institution (like a bank or credit union) that verifies your signature's authenticity. This is a critical security measure for stock transfers.
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Mail the completed forms and your original stock certificates (if applicable) to Computershare via certified mail with return receipt requested. This provides proof of mailing and delivery. Never send original stock certificates via regular mail.
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Understand Sale Execution and Fees:
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Computershare typically processes sales as market orders (executed at the current market price) or sometimes limit orders (you specify a minimum selling price). Ask about the available order types.
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Be aware of any fees associated with the sale. Computershare will deduct these fees from your sale proceeds.
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Receive Your Proceeds:
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Once the sale is executed, Computershare will send you a check or directly deposit the funds into your bank account if you have set up direct deposit. This can take several business days to a few weeks.
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Sub-heading: Option B: Transferring to a Brokerage Account (and then selling)
If you prefer to sell through a brokerage firm, or if you already have an account, you can transfer your directly registered MetLife shares to that account.
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Open a Brokerage Account (if you don't have one): Choose a reputable brokerage firm (e.g., Charles Schwab, Fidelity, Vanguard, E*TRADE, TD Ameritrade).
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Consider fees, customer service, and platform features.
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Complete the application process, which will involve providing personal information and linking a bank account for future transfers.
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Initiate a Transfer (DRS or Certificate Deposit):
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Direct Registration System (DRS): If your shares are held in DRS form with Computershare (meaning no physical certificates), your broker can initiate an electronic transfer directly from Computershare to your brokerage account. This is usually the quickest and safest method.
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Physical Certificates: If you have physical certificates, you'll need to send them to your chosen brokerage firm.
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Contact your broker for their specific instructions and any required forms. They will likely provide a pre-paid, insured mailing label.
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You will typically need to sign the back of the certificates exactly as your name appears on the front, and your signature will likely require a medallion guarantee.
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Keep copies of everything you send.
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Sell Shares Through Your Broker:
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Once your MetLife shares appear in your brokerage account (this can take a few business days to a couple of weeks), you can sell them just like any other stock.
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Log in to your brokerage account, find MetLife (ticker: MET), and place a sell order (market order for immediate sale, or a limit order to specify a price).
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The proceeds will be credited to your brokerage cash balance, which you can then withdraw to your linked bank account.
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Step 3: Selling MetLife Shares Held in a Brokerage Account
If your MetLife shares are already held in a brokerage account (either because you purchased them there or they were transferred in), the process is straightforward.
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Log In to Your Brokerage Account: Access your online brokerage platform or contact your broker directly.
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Locate MetLife (MET) in Your Holdings: Navigate to your portfolio or holdings section.
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Place a Sell Order:
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Market Order: This will sell your shares immediately at the current market price. It's the quickest option but doesn't guarantee a specific price.
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Limit Order: This allows you to set a specific price at which you want to sell your shares. Your order will only execute if the stock reaches that price. This is useful if you have a target price in mind, but there's no guarantee the order will fill.
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Stop-Loss Order: While not a direct selling order, a stop-loss order can be used to limit potential losses. It triggers a market order to sell if the stock price falls to a predetermined level.
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Confirm the Order: Review all details of your sell order before confirming. Double-check the number of shares, the order type, and the stock ticker (MET).
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Receive Your Proceeds: Once the sale is executed, the cash proceeds will be deposited into your brokerage account's cash balance, typically within T+2 business days (Trade Date + 2 days). You can then initiate a withdrawal to your linked bank account.
Step 4: Selling MetLife Policyholder Trust Interests (for former policyholders)
If you received interests in the MetLife Policyholder Trust during demutualization, these are typically managed by Computershare, similar to directly registered shares. However, there might be specific procedures for withdrawing and selling these interests.
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Contact Computershare: As the custodian for the MetLife Policyholder Trust, Computershare is your primary contact.
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Use the contact information provided in Step 2.
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Specifically mention that you hold "MetLife Policyholder Trust Interests" and wish to sell them.
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Understand the Purchase & Sale Program: MetLife established a "Purchase and Sale Program" (often referenced as the "MetLife Trust Purchase & Sale Program") for beneficiaries of the Trust. This program allows for the withdrawal of allocated shares from the Trust to be sold for cash.
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You will need to request the brochure and procedures for this program.
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Request and Complete the "Notice to Withdraw" Form: This form is typically used to transfer shares out of the Trust's program.
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Follow the instructions meticulously.
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Your signature will likely require a medallion guarantee.
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Submit the Forms: Mail the completed and guaranteed forms to Computershare. Again, using certified mail with return receipt is highly recommended.
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Sale Execution and Proceeds: Once Computershare processes your withdrawal request, they will facilitate the sale of the underlying MetLife shares through the program. The proceeds, minus any applicable fees, will be sent to you.
It's important to note that the MetLife Policyholder Trust was designed to eventually terminate once the number of Trust Shares falls below a certain threshold. However, MetLife has stated it currently has no intention of voluntarily terminating it. Nonetheless, the process for selling your Trust Interests will remain through Computershare's established program.
Step 5: Addressing Special Situations
While the above steps cover most scenarios, some situations require additional consideration.
Tip: Jot down one takeaway from this post.
Sub-heading: Selling Inherited MetLife Stock
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If you've inherited MetLife stock, the process involves a few extra steps to transfer ownership before selling.
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Contact Computershare (for registered shares/Trust interests) or the Deceased's Brokerage (for brokerage-held shares):
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Inform them of the shareholder's passing.
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They will provide you with a list of required documents.
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Gather Necessary Documents: This typically includes:
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Certified copy of the death certificate.
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Letters Testamentary or Letters of Administration (court documents proving your authority as executor/administrator of the estate).
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Affidavit of Domicile.
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Small Estate Affidavit (if applicable, for smaller estates).
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Inheritance Tax Waivers (if required by your state).
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Transfer request forms provided by Computershare or the brokerage.
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A medallion signature guarantee will almost certainly be required for the new owner(s).
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Transfer Ownership: Once all documents are submitted and approved, the shares will be re-registered in the name of the beneficiary(ies) or the estate.
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Sell the Shares: Once the shares are in your name or the estate's name, follow the appropriate selling steps outlined in Step 2 or Step 3.
Sub-heading: Selling Restricted MetLife Stock
If you received MetLife stock through an employee stock purchase plan, as compensation, or through a private placement, it might be considered "restricted stock." Restricted stock has limitations on when and how it can be sold, usually involving a vesting period and compliance with SEC Rule 144.
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Consult with Your Employer (if applicable): If you received the stock through employment, your company's HR or stock plan administrator can provide details on any restrictions and the process for lifting them.
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Understand Rule 144: This SEC rule dictates how restricted and control securities can be sold. It generally involves:
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A holding period (e.g., six months or one year).
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Volume limitations (you can only sell a certain percentage of shares within a defined period).
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Filing a Form 144 with the SEC (if selling a large quantity).
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Selling through a brokerage firm familiar with restricted stock sales.
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Work with a Knowledgeable Broker: It is essential to use a brokerage firm that has experience with restricted stock sales. They will guide you through the compliance requirements and help you execute the sale properly.
Step 6: Understanding Tax Implications
Selling stock, including MetLife stock, has tax implications. It's crucial to understand these before you sell.
Sub-heading: Cost Basis
Your "cost basis" is what you originally paid for the stock (plus any commissions or fees). This is essential for calculating your capital gain or loss.
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For demutualization shares: The IRS generally considers the cost basis of MetLife shares received in the demutualization to be zero for tax purposes, as your membership interest was exchanged for stock without a direct purchase price. However, the holding period for these shares usually includes the period you held the underlying insurance policy. Always confirm with a tax professional.
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For purchased shares: Your cost basis is the price you paid plus commissions.
Sub-heading: Capital Gains and Losses
When you sell stock:
Tip: Reflect on what you just read.
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Capital Gain: If you sell the stock for more than your cost basis.
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Capital Loss: If you sell the stock for less than your cost basis.
Sub-heading: Short-Term vs. Long-Term Capital Gains
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Short-Term Capital Gain/Loss: If you held the stock for one year or less before selling. These gains are typically taxed at your ordinary income tax rate.
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Long-Term Capital Gain/Loss: If you held the stock for more than one year before selling. These gains are generally taxed at a lower, preferential long-term capital gains tax rate.
It is highly recommended to consult with a qualified tax advisor before selling your MetLife stock, especially if you received it through demutualization or inheritance, to understand your specific tax obligations and any opportunities for tax planning.
Step 7: Final Considerations and Best Practices
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Market Conditions: Consider the current market price of MetLife (MET) before selling. While you might need to sell immediately, if you have flexibility, monitoring the stock's performance can help you decide on an opportune time.
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Diversification: If MetLife stock represents a significant portion of your portfolio, selling some shares can help diversify your investments and reduce risk.
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Financial Goals: Align your sale with your overall financial goals. Are you selling to fund a large purchase, rebalance your portfolio, or for another reason?
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Keep Records: Maintain meticulous records of all communications, forms, and transactions related to your MetLife stock, especially for tax purposes.
By following these detailed steps, you can confidently navigate the process of selling your MetLife stock, regardless of how you hold it. Remember, patience and attention to detail are key!
Frequently Asked Questions (FAQs)
How to Find My MetLife Stock Account Number?
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Look for any statements or correspondence from Computershare (MetLife's transfer agent). Your account number should be prominently displayed on these documents. If you have a brokerage account, it will be listed within your online account or on statements from your broker.
How to Get a Medallion Signature Guarantee?
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A medallion signature guarantee must be obtained from an eligible financial institution, such as a commercial bank, savings bank, credit union, or brokerage firm that is a member of a Medallion Signature Guarantee Program. You will usually need to be a customer of the institution and present valid identification.
How to Sell MetLife Stock if I Lost My Certificates?
Tip: Reread tricky sentences for clarity.
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Contact Computershare immediately. They will have a process for replacing lost certificates, which usually involves completing an affidavit of loss and potentially paying a bond fee. Once new certificates (or electronic shares) are issued, you can proceed with the sale.
How to Determine My Cost Basis for Demutualization Shares?
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For MetLife demutualization shares, the IRS generally views the cost basis as $0 for tax purposes, but the holding period typically dates back to when you acquired the original MetLife insurance policy. Always consult a tax professional for personalized advice regarding your specific situation and to confirm your cost basis.
How to Sell a Small Number of MetLife Shares?
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For small holdings, selling through Computershare's direct program might be the most cost-effective option, as brokerage minimums or fees could eat into your proceeds. Some brokers also offer "no-minimum" accounts.
How to Transfer MetLife Stock to Another Person?
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If transferring to a living person, you'll need to contact Computershare (for registered shares) or your brokerage. They will provide "Living Shareholder Transfer" forms that require both your signature and the recipient's information, often with medallion guarantees. For deceased shareholder transfers, see the "Selling Inherited MetLife Stock" section above.
How to Receive MetLife Dividends via Direct Deposit?
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If your shares are held with Computershare, you can set up direct deposit for dividends through their Investor Center website or by submitting a "Direct Deposit for Dividend Payments" form. If held with a broker, dividends are typically deposited directly into your brokerage account's cash balance.
How to Update My Address for MetLife Stock Holdings?
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If registered with Computershare, you can update your address through their Investor Center website or by submitting a change of address form. If held with a brokerage, update your address directly with your brokerage firm.
How to Understand the MetLife Policyholder Trust?
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The MetLife Policyholder Trust was created during MetLife's demutualization in 2000. It holds MetLife shares for the benefit of eligible former policyholders who received "Trust Interests" instead of direct stock ownership. Computershare acts as the custodian for these interests.
How to Contact MetLife Investor Relations?
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While MetLife's Investor Relations team provides general company information, for specific stock account inquiries (selling, transfers, lost certificates), you will typically need to contact their transfer agent, Computershare. You can find contact details for both on the official MetLife Investor Relations website.
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