Pacer Advisors Inc. bought a new stake in shares of Metlife Inc (NYSE:MET) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 65,739 shares of the financial services provider’s stock, valued at approximately $2,401,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in MET. Watson Rebecca purchased a new stake in shares of Metlife during the 2nd quarter valued at $27,000. America First Investment Advisors LLC acquired a new stake in Metlife in the 1st quarter worth about $29,000. Ballast Advisors LLC acquired a new stake in Metlife in the 1st quarter worth about $33,000. Pinnacle Bank lifted its stake in Metlife by 318.5% in the 1st quarter. Pinnacle Bank now owns 1,109 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 844 shares in the last quarter. Finally, Lenox Wealth Advisors LLC lifted its stake in Metlife by 124.6% in the 2nd quarter. Lenox Wealth Advisors LLC now owns 1,103 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 612 shares in the last quarter. 74.67% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently commented on MET. Bank of America began coverage on shares of Metlife in a research report on Monday, June 1st. They set a “buy” rating on the stock. Zacks Investment Research raised Metlife from a “sell” rating to a “hold” rating and set a $45.00 target price on the stock in a research report on Tuesday, June 9th. Morgan Stanley boosted their price target on shares of Metlife from $40.00 to $44.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Credit Suisse Group lowered their target price on shares of Metlife from $60.00 to $46.00 and set an “outperform” rating for the company in a research note on Monday, April 27th. Finally, ValuEngine downgraded shares of Metlife from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $41.88.
Metlife (NYSE:MET) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $1.58 EPS for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.14. Metlife had a net margin of 12.37% and a return on equity of 8.85%. The business had revenue of $15.54 billion for the quarter, compared to the consensus estimate of $16.38 billion. During the same quarter last year, the firm posted $1.48 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities analysts predict that Metlife Inc will post 5.49 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Tuesday, August 4th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 4.86%. The ex-dividend date of this dividend is Monday, August 3rd. Metlife’s dividend payout ratio (DPR) is 30.11%.
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short- and long-term disability, individual disability, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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