Columbus Hill Capital Management L.P. increased its stake in MetLife, Inc. (NYSE:MET) by 5.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,218 shares of the financial services provider’s stock after buying an additional 7,718 shares during the period. Columbus Hill Capital Management L.P.’s holdings in MetLife were worth $8,357,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the company. Diamond Hill Capital Management Inc. increased its stake in shares of MetLife by 16.1% in the first quarter. Diamond Hill Capital Management Inc. now owns 6,838,929 shares of the financial services provider’s stock valued at $361,232,000 after buying an additional 950,133 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of MetLife by 30.3% in the first quarter. UBS Asset Management Americas Inc. now owns 5,405,008 shares of the financial services provider’s stock valued at $285,493,000 after buying an additional 1,256,510 shares in the last quarter. Legal & General Group Plc increased its stake in shares of MetLife by 3.2% in the first quarter. Legal & General Group Plc now owns 4,707,662 shares of the financial services provider’s stock valued at $248,661,000 after buying an additional 144,473 shares in the last quarter. APG Asset Management N.V. increased its stake in shares of MetLife by 53.8% in the first quarter. APG Asset Management N.V. now owns 3,902,274 shares of the financial services provider’s stock valued at $206,118,000 after buying an additional 1,365,018 shares in the last quarter. Finally, TD Asset Management Inc. increased its stake in shares of MetLife by 9.6% in the first quarter. TD Asset Management Inc. now owns 3,521,498 shares of the financial services provider’s stock valued at $186,006,000 after buying an additional 307,878 shares in the last quarter. 74.60% of the stock is currently owned by institutional investors.
MetLife, Inc. (NYSE:MET) opened at 54.65 on Monday. MetLife, Inc. has a 1-year low of $38.87 and a 1-year high of $58.09. The stock’s market capitalization is $58.80 billion. The firm has a 50-day moving average of $53.79 and a 200-day moving average of $53.02.
MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.19. MetLife had a negative net margin of 0.95% and a positive return on equity of 7.57%. The company had revenue of $16.27 billion for the quarter, compared to the consensus estimate of $17.02 billion. During the same quarter in the prior year, the firm earned $1.20 earnings per share. The company’s revenue for the quarter was down 11.7% compared to the same quarter last year. Equities research analysts anticipate that MetLife, Inc. will post $5.38 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend is Thursday, August 3rd. MetLife’s dividend payout ratio (DPR) is presently -258.06%.
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Several equities research analysts have weighed in on MET shares. TheStreet downgraded MetLife from a “b-” rating to a “c” rating in a research report on Tuesday, May 16th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $62.00 price target on shares of MetLife in a research report on Wednesday, July 12th. Wells Fargo & Company reaffirmed a “buy” rating on shares of MetLife in a research report on Monday, March 27th. J P Morgan Chase & Co cut their price target on MetLife from $57.00 to $54.00 and set an “overweight” rating on the stock in a research report on Monday, April 3rd. Finally, Zacks Investment Research raised MetLife from a “sell” rating to a “hold” rating in a research report on Friday, May 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. MetLife currently has a consensus rating of “Buy” and a consensus target price of $57.03.
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; Brighthouse Financial, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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