LSV Asset Management reduced its stake in MetLife, Inc. (NYSE:MET) by 0.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,992,538 shares of the financial services provider’s stock after selling 13,324 shares during the period. LSV Asset Management owned approximately 0.38% of MetLife worth $219,350,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of MetLife by 3,323.3% in the first quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock valued at $3,616,895,000 after buying an additional 66,475,603 shares during the period. Vanguard Group Inc. boosted its stake in shares of MetLife by 3.0% in the first quarter. Vanguard Group Inc. now owns 65,364,620 shares of the financial services provider’s stock valued at $3,452,559,000 after buying an additional 1,885,246 shares during the period. State Street Corp boosted its stake in shares of MetLife by 1.4% in the first quarter. State Street Corp now owns 49,020,964 shares of the financial services provider’s stock valued at $2,589,297,000 after buying an additional 680,903 shares during the period. Geode Capital Management LLC boosted its stake in shares of 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 valued at $541,427,000 after buying an additional 664,918 shares during the period. Finally, Morgan Stanley boosted its stake in shares of MetLife by 5.4% in the first quarter. Morgan Stanley now owns 7,946,397 shares of the financial services provider’s stock valued at $419,728,000 after buying an additional 404,104 shares during the period. Institutional investors and hedge funds own 74.14% of the company’s stock.
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Shares of MetLife, Inc. (MET) opened at 50.13 on Thursday. The firm has a market capitalization of $53.28 billion, a P/E ratio of 589.76 and a beta of 1.44. The firm’s 50-day moving average price is $47.80 and its 200-day moving average price is $47.30. MetLife, Inc. has a one year low of $38.17 and a one year high of $51.77.
MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.02. The business had revenue of $17.39 billion during 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%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 earnings per share. On average, equities analysts forecast that MetLife, Inc. will post $4.77 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Thursday, August 3rd. MetLife’s dividend payout ratio is presently 1,777.98%.
Several equities research analysts recently issued reports on MET shares. TheStreet upgraded MetLife from a “c” rating to a “b-” rating in a research note on Monday, July 24th. Wells Fargo & Company reiterated a “buy” rating on shares of MetLife in a research note on Monday, August 7th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $59.00 price target on shares of MetLife in a research note on Thursday, August 3rd. Royal Bank Of Canada reiterated a “buy” rating and issued a $62.00 price target on shares of MetLife in a research note on Wednesday, July 12th. Finally, Argus cut their price target on MetLife from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $57.95.
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, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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