Private Wealth Advisors Inc. cut its stake in shares of MetLife, Inc. (NYSE:MET) by 0.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,578 shares of the financial services provider’s stock after selling 70 shares during the quarter. Private Wealth Advisors Inc.’s holdings in MetLife were worth $1,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in MET. BlackRock Inc. lifted its position in MetLife by 3,323.3% during the first quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock valued at $3,616,895,000 after purchasing an additional 66,475,603 shares during the last quarter. Vanguard Group Inc. lifted its position in MetLife by 3.0% during the first quarter. Vanguard Group Inc. now owns 65,364,620 shares of the financial services provider’s stock valued at $3,452,559,000 after purchasing an additional 1,885,246 shares during the last quarter. TD Asset Management Inc. lifted its position in MetLife by 47.7% during the second quarter. TD Asset Management Inc. now owns 5,201,238 shares of the financial services provider’s stock valued at $285,756,000 after purchasing an additional 1,679,740 shares during the last quarter. Renaissance Technologies LLC bought a new stake in MetLife during the first quarter valued at approximately $82,954,000. Finally, Prudential Financial Inc. lifted its position in MetLife by 71.4% during the second quarter. Prudential Financial Inc. now owns 3,672,729 shares of the financial services provider’s stock valued at $201,778,000 after purchasing an additional 1,529,570 shares during the last quarter. Institutional investors and hedge funds own 74.14% of the company’s stock.
MetLife, Inc. (NYSE:MET) opened at 50.54 on Friday. MetLife, Inc. has a 52 week low of $38.17 and a 52 week high of $51.77. The company has a 50 day moving average of $47.80 and a 200 day moving average of $47.30. The stock has a market capitalization of $53.72 billion, a P/E ratio of 594.59 and a beta of 1.44.
MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.02. The company had revenue of $17.39 billion during the quarter, compared to the consensus estimate of $17.11 billion. MetLife had a return on equity of 8.51% and a net margin of 0.30%. MetLife’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the company earned $0.83 earnings per share. Equities analysts expect that MetLife, Inc. will post $4.77 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Monday, August 7th were given a $0.40 dividend. The ex-dividend date was Thursday, August 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.17%. MetLife’s dividend payout ratio is presently 1,777.98%.
Several brokerages have issued reports on MET. Citigroup Inc. set a $51.00 target price on shares of MetLife and gave the company a “sell” rating in a research report on Friday, July 7th. Royal Bank Of Canada reiterated a “buy” rating and set a $62.00 target price on shares of MetLife in a research report on Wednesday, July 12th. Wells Fargo & Company reiterated an “outperform” rating and set a $63.00 target price (up from $61.00) on shares of MetLife in a research report on Wednesday, July 12th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $59.00 target price on shares of MetLife in a research report on Thursday, August 3rd. Finally, TheStreet upgraded shares of MetLife from a “c” rating to a “b-” rating in a research report on Monday, July 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $57.95.
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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