Northwestern Mutual Investment Management Company LLC reduced its position in MetLife, Inc. (NYSE:MET) by 80.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,914 shares of the financial services provider’s stock after selling 177,867 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in MetLife were worth $1,669,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in MET. BlackRock Inc. increased its holdings 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 valued at $3,616,895,000 after buying an additional 66,475,603 shares during the last quarter. Vanguard Group Inc. increased its holdings 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 valued at $3,452,559,000 after buying an additional 1,885,246 shares during the last quarter. TD Asset Management Inc. increased its holdings in MetLife by 47.7% in the second quarter. TD Asset Management Inc. now owns 5,201,238 shares of the financial services provider’s stock valued at $285,756,000 after buying an additional 1,679,740 shares during the last quarter. Renaissance Technologies LLC bought a new stake in MetLife in the first quarter valued at about $82,954,000. Finally, Prudential Financial Inc. increased its holdings in MetLife by 71.4% in the second quarter. Prudential Financial Inc. now owns 3,672,729 shares of the financial services provider’s stock valued at $201,778,000 after buying an additional 1,529,570 shares during the last quarter. 74.14% of the stock is owned by hedge funds and other institutional investors.
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MetLife, Inc. (NYSE:MET) opened at 49.47 on Wednesday. MetLife, Inc. has a 12 month low of $38.17 and a 12 month high of $51.77. The stock’s 50 day moving average price is $47.80 and its 200 day moving average price is $47.30. The firm has a market capitalization of $52.58 billion, a P/E ratio of 582.00 and a beta of 1.44.
MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) 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 firm had revenue of $17.39 billion during the quarter, compared to analyst estimates of $17.11 billion. During the same quarter in the prior year, the business posted $0.83 earnings per share. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, analysts forecast that MetLife, Inc. will post $4.78 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Monday, August 7th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.23%. The ex-dividend date was Thursday, August 3rd. MetLife’s dividend payout ratio (DPR) is presently 1,777.98%.
Several analysts recently weighed in on MET shares. TheStreet lowered MetLife from a “b-” rating to a “c+” rating in a report on Monday, August 21st. BidaskClub lowered MetLife from a “hold” rating to a “sell” rating in a report on Monday, July 24th. ValuEngine raised MetLife from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Wells Fargo & Company reissued an “outperform” rating and issued a $63.00 price objective (up from $61.00) on shares of MetLife in a report on Wednesday, July 12th. Finally, FBR & Co raised MetLife from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $54.00 to $58.00 in a report on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $57.95.
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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