BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in MetLife, Inc. (NYSE:MET) by 9.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 339,639 shares of the financial services provider’s stock after selling 37,425 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in MetLife were worth $18,660,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in shares of 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 purchasing an additional 66,475,603 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of 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 purchasing an additional 1,885,246 shares in the last quarter. State Street Corp lifted its holdings in shares of MetLife by 1.4% in the first quarter. State Street Corp now owns 49,020,964 shares of the financial services provider’s stock valued at $2,589,297,000 after purchasing an additional 680,903 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of MetLife by 6.9% in the first quarter. Geode Capital Management LLC now owns 10,265,096 shares of the financial services provider’s stock valued at $541,427,000 after purchasing an additional 664,918 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in shares of MetLife by 5.4% in the first quarter. Morgan Stanley now owns 7,946,397 shares of the financial services provider’s stock valued at $419,728,000 after purchasing an additional 404,104 shares in the last quarter. Institutional investors and hedge funds own 74.24% of the company’s stock.
MET has been the topic of a number of recent research reports. FBR & Co upgraded MetLife from a “market perform” rating to an “outperform” rating and raised their target price for the company from $54.00 to $58.00 in a report on Thursday, May 25th. BidaskClub upgraded MetLife from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. ValuEngine raised MetLife from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Wells Fargo & Company reissued a “buy” rating on shares of MetLife in a research report on Saturday, July 1st. Finally, Citigroup Inc. set a $51.00 target price on MetLife and gave the stock a “sell” rating in a research report on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $57.95.
Shares of MetLife, Inc. (NYSE:MET) traded up 0.39% during midday trading on Friday, reaching $48.54. The company’s stock had a trading volume of 7,371,451 shares. The company has a market cap of $51.59 billion, a PE ratio of 571.06 and a beta of 1.44. MetLife, Inc. has a 12 month low of $38.17 and a 12 month high of $51.77. The company’s 50-day moving average price is $47.80 and its 200-day moving average price is $47.29.
MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.02. The firm had revenue of $17.39 billion during the quarter, compared to analyst estimates of $17.11 billion. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 earnings per share. On average, equities analysts anticipate that MetLife, Inc. will post $4.78 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Monday, August 7th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend was Thursday, August 3rd. MetLife’s payout ratio is 1,777.98%.
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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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