First Personal Financial Services raised its position in MetLife, Inc. (NYSE:MET) by 11.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,588 shares of the financial services provider’s stock after buying an additional 266 shares during the period. First Personal Financial Services’ holdings in MetLife were worth $137,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of MET. State Street Corp raised its stake in shares of MetLife by 9.0% in the fourth quarter. State Street Corp now owns 48,340,061 shares of the financial services provider’s stock worth $2,605,045,000 after buying an additional 4,003,013 shares during the period. Dodge & Cox bought a new position in shares of MetLife during the fourth quarter worth $2,212,814,000. Franklin Resources Inc. raised its position in shares of MetLife by 6.3% in the fourth quarter. Franklin Resources Inc. now owns 25,129,330 shares of the financial services provider’s stock worth $1,354,219,000 after buying an additional 1,485,749 shares during the period. Diamond Hill Capital Management Inc. raised its position in shares of MetLife by 16.1% in the first quarter. Diamond Hill Capital Management Inc. now owns 6,838,929 shares of the financial services provider’s stock worth $361,232,000 after buying an additional 950,133 shares during the period. Finally, Norges Bank bought a new position in shares of MetLife during the fourth quarter worth $324,535,000. 74.53% of the stock is owned by institutional investors and hedge funds.
MetLife, Inc. (MET) opened at 53.52 on Friday. MetLife, Inc. has a 12 month low of $36.17 and a 12 month high of $58.09. The stock’s market capitalization is $57.58 billion. The company’s 50-day moving average is $51.66 and its 200-day moving average is $53.14.
MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.19. The firm had revenue of $16.27 billion for the quarter, compared to analysts’ expectations of $17.02 billion. MetLife had a positive return on equity of 7.57% and a negative net margin of 0.95%. The company’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.20 EPS. Equities analysts anticipate that MetLife, Inc. will post $5.36 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 13th. Shareholders of record on Monday, May 8th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend was Thursday, May 4th. MetLife’s payout ratio is -258.06%.
A number of equities analysts have recently commented on MET shares. Citigroup Inc. reissued a “focus list” rating on shares of MetLife in a research note on Tuesday, February 21st. TheStreet downgraded shares of MetLife from a “b-” rating to a “c” rating in a research note on Friday, February 24th. Bank of America Corporation downgraded shares of MetLife from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $54.20 to $54.83 in a research note on Monday, March 6th. Vetr raised shares of MetLife from a “buy” rating to a “strong-buy” rating and set a $58.66 target price for the company in a research report on Tuesday, March 21st. Finally, Wells Fargo & Company reissued a “buy” rating on shares of MetLife in a research report on Monday, March 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $55.94.
In other news, Director James M. Kilts bought 17,205 shares of the stock in a transaction dated Wednesday, March 22nd. The shares were bought at an average cost of $51.13 per share, with a total value of $879,691.65. Following the completion of the transaction, the director now directly owns 59,443 shares of the company’s stock, valued at $3,039,320.59. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is currently owned by corporate insiders.
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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