Jacobs & Co. CA cut its position in MetLife, Inc. (NYSE:MET) by 4.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,480 shares of the financial services provider’s stock after selling 205 shares during the period. Jacobs & Co. CA’s holdings in MetLife were worth $246,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in MET. BlackRock Inc. boosted its stake in 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 buying an additional 66,475,603 shares during the period. Vanguard Group Inc. boosted its stake in 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 buying an additional 1,885,246 shares during the period. State Street Corp boosted its stake in MetLife by 1.4% in the first quarter. State Street Corp now owns 49,020,964 shares of the financial services provider’s stock worth $2,589,297,000 after buying an additional 680,903 shares during the period. Geode Capital Management LLC boosted its stake in MetLife by 6.9% in the first quarter. Geode Capital Management LLC now owns 10,265,096 shares of the financial services provider’s stock worth $541,427,000 after buying an additional 664,918 shares during the period. Finally, Morgan Stanley boosted its stake in MetLife by 5.4% in the first quarter. Morgan Stanley now owns 7,946,397 shares of the financial services provider’s stock worth $419,728,000 after buying an additional 404,104 shares during the period. Hedge funds and other institutional investors own 75.61% of the company’s stock.
Shares of MetLife, Inc. (NYSE MET) traded up 0.351% on Friday, reaching $47.115. 3,000,080 shares of the company traded hands. MetLife, Inc. has a 1-year low of $40.07 and a 1-year high of $58.09. The stock has a 50-day moving average price of $48.83 and a 200 day moving average price of $51.53. The firm has a market capitalization of $50.08 billion, a P/E ratio of 554.294 and a beta of 1.46.
MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.02. The company had revenue of $17.39 billion for the quarter, compared to the consensus estimate of $17.11 billion. MetLife had a net margin of 0.30% and a return on equity of 8.51%. MetLife’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.83 EPS. Analysts anticipate that MetLife, Inc. will post $4.88 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th will be issued a $0.40 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.41%. MetLife’s dividend payout ratio is currently 1,777.98%.
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A number of equities research analysts recently commented on MET shares. TheStreet cut shares of MetLife from a “b-” rating to a “c” rating in a report on Tuesday, May 16th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $62.00 price target on shares of MetLife in a report on Wednesday, July 12th. Wells Fargo & Company reaffirmed a “buy” rating on shares of MetLife in a report on Thursday, May 4th. Zacks Investment Research raised shares of MetLife from a “sell” rating to a “hold” rating in a report on Friday, May 5th. Finally, Argus lowered their price target on shares of MetLife from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $59.17.
MetLife Company Profile
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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