State of Tennessee Treasury Department raised its stake in MetLife, Inc. (NYSE:MET) by 6.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 918,839 shares of the financial services provider’s stock after purchasing an additional 52,121 shares during the period. State of Tennessee Treasury Department owned approximately 0.09% of MetLife worth $50,482,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of MET. Signature Estate & Investment Advisors LLC bought a new stake in MetLife in the 1st quarter valued at $107,000. First Personal Financial Services boosted its holdings in MetLife by 11.5% in the 1st quarter. First Personal Financial Services now owns 2,588 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 266 shares during the period. Westside Investment Management Inc. boosted its holdings in MetLife by 583.8% in the 1st quarter. Westside Investment Management Inc. now owns 2,694 shares of the financial services provider’s stock valued at $140,000 after purchasing an additional 2,300 shares during the period. Parallel Advisors LLC boosted its holdings in MetLife by 50.7% in the 1st quarter. Parallel Advisors LLC now owns 2,748 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 924 shares during the period. Finally, CI Investments Inc. bought a new stake in MetLife in the 1st quarter valued at $158,000. 74.14% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have weighed in on the stock. Langen Mcalenn reissued a “buy” rating on shares of MetLife in a report on Wednesday, August 16th. Wells Fargo & Company reissued a “buy” rating on shares of MetLife in a report on Monday, August 7th. BidaskClub raised shares of MetLife from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $59.00 price objective on shares of MetLife in a report on Thursday, August 3rd. Finally, Zacks Investment Research downgraded shares of MetLife from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $57.95.
MetLife, Inc. (NYSE MET) opened at 48.90 on Tuesday. The company’s 50-day moving average is $47.79 and its 200 day moving average is $47.29. MetLife, Inc. has a one year low of $38.17 and a one year high of $51.77. The company has a market capitalization of $51.97 billion, a P/E ratio of 575.29 and a beta of 1.44.
MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.02. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The business had revenue of $17.39 billion during the quarter, compared to analysts’ expectations of $17.11 billion. During the same quarter in the prior year, the business posted $0.83 earnings per share. MetLife’s revenue was up 2.5% compared to the same quarter last year. Analysts predict that MetLife, Inc. will post $4.78 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Monday, August 7th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, August 3rd. This represents a $1.60 annualized dividend and a yield of 3.27%. MetLife’s dividend payout ratio is 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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