Synovus Financial Corp raised its holdings in MetLife, Inc. (NYSE:MET) by 18.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,014 shares of the financial services provider’s stock after purchasing an additional 1,253 shares during the quarter. Synovus Financial Corp’s holdings in MetLife were worth $439,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of MET. Waldron LP boosted its holdings in shares of MetLife by 5.1% in the 1st quarter. Waldron LP now owns 6,492 shares of the financial services provider’s stock valued at $342,000 after purchasing an additional 315 shares in the last quarter. Alpha Cubed Investments LLC acquired a new stake in shares of MetLife in the 1st quarter valued at $225,000. Signature Estate & Investment Advisors LLC acquired a new stake in shares of MetLife in the 1st quarter valued at $107,000. Capital One National Association boosted its holdings in shares of MetLife by 1.3% in the 1st quarter. Capital One National Association now owns 20,803 shares of the financial services provider’s stock valued at $1,098,000 after purchasing an additional 272 shares in the last quarter. Finally, Brick & Kyle Associates boosted its holdings in shares of MetLife by 12.9% in the 1st quarter. Brick & Kyle Associates now owns 8,299 shares of the financial services provider’s stock valued at $438,000 after purchasing an additional 950 shares in the last quarter. 74.14% of the stock is currently owned by hedge funds and other institutional investors.
MET has been the topic of several recent research reports. TheStreet raised MetLife from a “c” rating to a “b-” rating in a report on Monday, July 24th. Wells Fargo & Company reissued a “buy” rating on shares of MetLife in a report on Monday, August 7th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $59.00 price objective on shares of MetLife in a report on Thursday, August 3rd. Royal Bank Of Canada reissued a “buy” rating and set a $62.00 price objective on shares of MetLife in a report on Wednesday, July 12th. Finally, Argus cut their price objective on MetLife from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. MetLife currently has a consensus rating of “Hold” and a consensus target price of $57.95.
MetLife, Inc. (MET) opened at 48.90 on Tuesday. The company’s 50-day moving average price is $47.79 and its 200 day moving average price is $47.29. The company has a market capitalization of $51.97 billion, a price-to-earnings ratio of 575.29 and a beta of 1.44. MetLife, Inc. has a 12 month low of $38.17 and a 12 month high of $51.77.
MetLife (NYSE:MET) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, topping the consensus estimate of $1.28 by $0.02. The company had revenue of $17.39 billion for the quarter, compared to analyst estimates of $17.11 billion. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.83 EPS. Analysts forecast that MetLife, Inc. will post $4.78 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Monday, August 7th were given a $0.40 dividend. The ex-dividend date was Thursday, August 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.27%. MetLife’s dividend payout ratio is presently 1,777.98%.
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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