US Bancorp DE raised its stake in shares of MetLife, Inc. (NYSE:MET) by 9.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 110,587 shares of the financial services provider’s stock after buying an additional 9,663 shares during the period. US Bancorp DE’s holdings in MetLife were worth $6,075,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the stock. Signature Estate & Investment Advisors LLC purchased a new position in MetLife during the first quarter worth $107,000. First Personal Financial Services raised its position in shares of MetLife by 11.5% in the first quarter. First Personal Financial Services now owns 2,588 shares of the financial services provider’s stock valued at $137,000 after buying an additional 266 shares during the period. Westside Investment Management Inc. raised its position in shares of MetLife by 583.8% in the first quarter. Westside Investment Management Inc. now owns 2,694 shares of the financial services provider’s stock valued at $140,000 after buying an additional 2,300 shares during the period. Parallel Advisors LLC raised its position in shares of MetLife by 50.7% in the first quarter. Parallel Advisors LLC now owns 2,748 shares of the financial services provider’s stock valued at $143,000 after buying an additional 924 shares during the period. Finally, First Mercantile Trust Co. bought a new position in shares of MetLife during the first quarter valued at approximately $149,000. 74.83% of the stock is currently owned by institutional investors.
MetLife, Inc. (NYSE:MET) traded down 0.94% during trading on Wednesday, reaching $48.31. 6,215,260 shares of the company’s stock traded hands. The company has a market capitalization of $52.53 billion, a price-to-earnings ratio of 542.81 and a beta of 1.46. The firm’s 50 day moving average is $54.59 and its 200-day moving average is $53.07. MetLife, Inc. has a 12 month low of $38.87 and a 12 month high of $58.09.
MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.02. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The business had revenue of $17.39 billion during the quarter, compared to analysts’ expectations of $17.11 billion. During the same period in the previous year, the business posted $0.83 earnings per share. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. Analysts expect that MetLife, Inc. will post $4.93 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, August 3rd. This represents a $1.60 annualized dividend and a yield of 3.31%. MetLife’s dividend payout ratio is currently 1,777.98%.
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Several equities analysts recently commented on MET shares. TheStreet lowered shares of MetLife from a “b-” rating to a “c” rating in a research report on Tuesday, May 16th. ValuEngine raised shares of MetLife from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Citigroup Inc. set a $51.00 price objective on shares of MetLife and gave the stock a “sell” rating in a research report on Friday, July 7th. Zacks Investment Research raised shares of MetLife from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Tuesday, April 11th. Finally, BidaskClub upgraded shares of MetLife from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. MetLife presently has a consensus rating of “Hold” and a consensus target price of $59.10.
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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