Jennison Associates LLC lifted its stake in MetLife, Inc. (NYSE:MET) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,326,578 shares of the financial services provider’s stock after purchasing an additional 54,299 shares during the quarter. Jennison Associates LLC owned 0.31% of MetLife worth $182,762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of MetLife by 3,323.3% during the 1st 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 during the period. Vanguard Group Inc. grew its stake in shares of MetLife by 3.0% during the 1st 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 during the period. TD Asset Management Inc. grew its stake in shares of MetLife by 47.7% during the 2nd quarter. TD Asset Management Inc. now owns 5,201,238 shares of the financial services provider’s stock valued at $285,756,000 after acquiring an additional 1,679,740 shares during the period. Renaissance Technologies LLC bought a new position in shares of MetLife during the 1st quarter valued at approximately $82,954,000. Finally, APG Asset Management N.V. grew its stake in shares of MetLife by 53.8% during the 1st 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 acquiring an additional 1,365,018 shares during the period. 74.24% of the stock is owned by hedge funds and other institutional investors.
Shares of MetLife, Inc. (NYSE:MET) opened at 48.50 on Wednesday. MetLife, Inc. has a 12 month low of $38.17 and a 12 month high of $51.77. The company has a market cap of $51.55 billion, a P/E ratio of 570.59 and a beta of 1.44. The company’s 50-day moving average price is $47.86 and its 200-day moving average price is $47.25.
MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.02. The company had revenue of $17.39 billion during the quarter, compared to the consensus estimate of $17.11 billion. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 EPS. Equities analysts forecast that MetLife, Inc. will post $4.78 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Monday, August 7th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.30%. MetLife’s dividend payout ratio (DPR) is presently 1,777.98%.
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A number of research analysts recently issued reports on MET shares. TheStreet downgraded MetLife from a “b-” rating to a “c” rating in a research note on Tuesday, May 16th. FBR & Co upgraded MetLife from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $54.00 to $58.00 in a research note on Thursday, May 25th. BidaskClub upgraded MetLife from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. ValuEngine upgraded MetLife from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of MetLife in a report on Saturday, July 1st. Two research 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 company presently has an average rating of “Hold” and an average 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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