Wright Investors Service Inc. lifted its position in Metlife Inc (NYSE:MET) by 2.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,903 shares of the financial services provider’s stock after buying an additional 1,315 shares during the quarter. Wright Investors Service Inc.’s holdings in Metlife were worth $2,280,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in Metlife by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 12,421,536 shares of the financial services provider’s stock valued at $509,344,000 after acquiring an additional 856,479 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in Metlife in the first quarter valued at about $547,000. First Manhattan Co. increased its stake in Metlife by 41.1% in the first quarter. First Manhattan Co. now owns 1,232 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 359 shares during the period. Virtu Financial LLC bought a new stake in Metlife in the first quarter valued at about $433,000. Finally, Pennsylvania Trust Co increased its stake in Metlife by 34.7% in the first quarter. Pennsylvania Trust Co now owns 12,193 shares of the financial services provider’s stock valued at $760,000 after acquiring an additional 3,142 shares during the period. 75.13% of the stock is currently owned by hedge funds and other institutional investors.
MET has been the topic of a number of analyst reports. Citigroup set a $42.00 target price on shares of Metlife and gave the company a “sell” rating in a research note on Thursday, May 23rd. Wells Fargo & Co upped their target price on shares of Metlife from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, July 11th. Barclays upped their target price on shares of Metlife from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. ValuEngine cut shares of Metlife from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research raised shares of Metlife from a “sell” rating to a “hold” rating and set a $51.00 target price on the stock in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $50.91.
Metlife (NYSE:MET) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.07. The firm had revenue of $16.45 billion for the quarter, compared to analyst estimates of $16.43 billion. Metlife had a net margin of 9.28% and a return on equity of 9.75%. The company’s revenue for the quarter was down 22.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.30 earnings per share. As a group, equities analysts anticipate that Metlife Inc will post 5.65 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 6th will be given a $0.44 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $1.76 dividend on an annualized basis and a yield of 3.91%. Metlife’s dividend payout ratio (DPR) is presently 32.65%.
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short- and long-term disability, individual disability, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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