Harbour Capital Advisors LLC boosted its stake in MetLife, Inc. (NYSE:MET) by 5,653.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,187,363 shares of the financial services provider’s stock after buying an additional 1,166,726 shares during the period. Harbour Capital Advisors LLC owned approximately 0.11% of MetLife worth $21,612,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the company. Teacher Retirement System of Texas raised its stake in MetLife by 7.2% in the first quarter. Teacher Retirement System of Texas now owns 822,785 shares of the financial services provider’s stock worth $43,460,000 after buying an additional 55,508 shares during the period. Aberdeen Asset Management PLC UK raised its stake in MetLife by 1.3% in the first quarter. Aberdeen Asset Management PLC UK now owns 469,645 shares of the financial services provider’s stock worth $24,807,000 after buying an additional 6,188 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in MetLife by 4.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 393,208 shares of the financial services provider’s stock worth $20,769,000 after buying an additional 15,716 shares during the period. Brick & Kyle Associates raised its stake in MetLife by 12.9% in the first quarter. Brick & Kyle Associates now owns 8,299 shares of the financial services provider’s stock worth $438,000 after buying an additional 950 shares during the period. Finally, ING Groep NV raised its stake in MetLife by 232.3% in the first quarter. ING Groep NV now owns 55,477 shares of the financial services provider’s stock worth $2,930,000 after buying an additional 38,780 shares during the period. 75.61% of the stock is owned by institutional investors and hedge funds.
Shares of MetLife, Inc. (NYSE MET) opened at 47.02 on Monday. MetLife, Inc. has a 52-week low of $35.86 and a 52-week high of $51.99. The stock has a market capitalization of $49.98 billion, a PE ratio of 553.18 and a beta of 1.46. The company’s 50 day moving average price is $48.77 and its 200 day moving average price is $47.24.
MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.02. The business had revenue of $17.39 billion for the quarter, compared to analyst estimates of $17.11 billion. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The company’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.83 earnings per share. On average, equities research analysts anticipate that MetLife, Inc. will post $4.88 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 7th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Thursday, August 3rd. MetLife’s dividend payout ratio is presently 1,777.98%.
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A number of analysts have recently weighed in on the company. TheStreet lowered MetLife from a “b-” rating to a “c” rating in a research note on Tuesday, May 16th. Wells Fargo & Company reaffirmed a “buy” rating on shares of MetLife in a research note on Saturday, July 1st. Langen Mcalenn reaffirmed a “buy” rating on shares of MetLife in a research note on Wednesday, August 16th. ValuEngine raised MetLife from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 11th. Finally, J P Morgan Chase & Co started coverage on MetLife in a research note on Monday, July 24th. They issued a “hold” rating and a $78.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, six 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 an average rating of “Buy” and an average price target 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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