MAI Capital Management lessened its holdings in MetLife, Inc. (NYSE:MET) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 151,319 shares of the financial services provider’s stock after selling 3,534 shares during the period. MAI Capital Management’s holdings in MetLife were worth $8,313,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Waldron LP lifted its position in shares of MetLife by 5.1% during the 1st quarter. Waldron LP now owns 6,492 shares of the financial services provider’s stock worth $342,000 after purchasing an additional 315 shares during the last quarter. First Mercantile Trust Co. purchased a new stake in shares of MetLife during the 1st quarter worth $149,000. Security National Trust Co. lifted its position in shares of MetLife by 2.9% during the 1st quarter. Security National Trust Co. now owns 12,247 shares of the financial services provider’s stock worth $646,000 after purchasing an additional 345 shares during the last quarter. Dowling & Yahnke LLC lifted its position in shares of MetLife by 2.5% during the 1st quarter. Dowling & Yahnke LLC now owns 51,935 shares of the financial services provider’s stock worth $2,743,000 after purchasing an additional 1,268 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD lifted its position in shares of MetLife by 8.7% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 78,111 shares of the financial services provider’s stock worth $4,125,000 after purchasing an additional 6,250 shares during the last quarter. 74.24% of the stock is owned by institutional investors.
MetLife, Inc. (NYSE:MET) opened at 48.54 on Friday. The firm has a 50-day moving average of $47.80 and a 200-day moving average of $47.29. MetLife, Inc. has a 1-year low of $38.17 and a 1-year high of $51.77. The firm has a market capitalization of $51.59 billion, a price-to-earnings ratio of 571.06 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 Zacks’ 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 company had revenue of $17.39 billion for the quarter, compared to the consensus estimate of $17.11 billion. During the same period last year, the firm posted $0.83 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts expect 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. Stockholders of record on Monday, August 7th were given a $0.40 dividend. The ex-dividend date was Thursday, August 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.30%. MetLife’s payout ratio is currently 1,777.98%.
Several equities research analysts have recently issued reports on the stock. Citigroup Inc. set a $51.00 price objective on shares of MetLife and gave the stock a “sell” rating in a research report on Friday, July 7th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $63.00 price objective (up from $61.00) on shares of MetLife in a research report on Wednesday, July 12th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $62.00 price objective on shares of MetLife in a research report on Wednesday, July 12th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $59.00 price objective on shares of MetLife in a research report on Thursday, August 3rd. Finally, TheStreet raised shares of MetLife from a “c” rating to a “b-” rating in a research report on Monday, July 24th. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $57.95.
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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, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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