BDO Wealth Advisors LLC acquired a new position in MetLife, Inc. (NYSE:MET) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 16,951 shares of the financial services provider’s stock, valued at approximately $931,000.
Several other large investors have also added to or reduced their stakes in MET. BlackRock Inc. increased its stake in shares of MetLife by 3,323.3% in the first quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock worth $3,616,895,000 after acquiring an additional 66,475,603 shares during the period. Vanguard Group Inc. increased its stake in shares of MetLife by 3.0% in the first quarter. Vanguard Group Inc. now owns 65,364,620 shares of the financial services provider’s stock worth $3,452,559,000 after acquiring an additional 1,885,246 shares during the period. TD Asset Management Inc. increased its stake in shares of MetLife by 47.7% in the second quarter. TD Asset Management Inc. now owns 5,201,238 shares of the financial services provider’s stock worth $285,756,000 after acquiring an additional 1,679,740 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of MetLife in the first quarter worth $82,954,000. Finally, Prudential Financial Inc. increased its stake in shares of MetLife by 71.4% in the second quarter. Prudential Financial Inc. now owns 3,672,729 shares of the financial services provider’s stock worth $201,778,000 after acquiring an additional 1,529,570 shares during the period. Hedge funds and other institutional investors own 74.24% of the company’s stock.
MET has been the topic of a number of research reports. TheStreet upgraded shares of MetLife from a “c” rating to a “b-” rating in a research note on Monday, July 24th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $59.00 price objective on shares of MetLife in a research note on Thursday, August 3rd. Royal Bank Of Canada reiterated a “buy” rating and issued a $62.00 price objective on shares of MetLife in a research note on Wednesday, July 12th. Wells Fargo & Company reiterated a “buy” rating on shares of MetLife in a research note on Saturday, July 1st. Finally, Argus cut their price objective on shares of MetLife from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $57.95.
MetLife, Inc. (NYSE MET) opened at 48.50 on Wednesday. MetLife, Inc. has a 12-month low of $38.17 and a 12-month high of $51.77. The stock has a market capitalization of $51.55 billion, a P/E ratio of 570.59 and a beta of 1.44. The firm’s 50-day moving average is $47.86 and its 200 day moving average is $47.25.
MetLife (NYSE:MET) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, topping the consensus estimate of $1.28 by $0.02. The company had revenue of $17.39 billion for the quarter, compared to analyst estimates of $17.11 billion. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.83 EPS. Equities analysts expect that MetLife, Inc. will post $4.78 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, August 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.30%. MetLife’s payout ratio is currently 1,777.98%.
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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