Motco grew its holdings in MetLife, Inc. (NYSE:MET) by 5.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 55,836 shares of the financial services provider’s stock after purchasing an additional 2,729 shares during the quarter. Motco’s holdings in MetLife were worth $3,068,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its stake in shares of MetLife by 3,323.3% in 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 last quarter. Vanguard Group Inc. boosted its stake in MetLife by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 65,364,620 shares of the financial services provider’s stock worth $3,452,559,000 after acquiring an additional 1,885,246 shares during the last quarter. State Street Corp boosted its stake in MetLife by 1.4% during the 1st quarter. State Street Corp now owns 49,020,964 shares of the financial services provider’s stock worth $2,589,297,000 after acquiring an additional 680,903 shares during the last quarter. Geode Capital Management LLC boosted its stake in MetLife by 6.9% during the 1st quarter. Geode Capital Management LLC now owns 10,265,096 shares of the financial services provider’s stock worth $541,427,000 after acquiring an additional 664,918 shares during the last quarter. Finally, Morgan Stanley boosted its stake in MetLife by 5.4% during the 1st quarter. Morgan Stanley now owns 7,946,397 shares of the financial services provider’s stock worth $419,728,000 after acquiring an additional 404,104 shares during the last quarter. 74.24% of the stock is currently owned by institutional investors.
Several research analysts recently weighed in on MET shares. TheStreet lowered shares of MetLife from a “b-” rating to a “c+” rating in a research note on Monday, August 21st. BidaskClub lowered shares of MetLife from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. ValuEngine raised shares of MetLife from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Wells Fargo & Company reissued an “outperform” rating and set a $63.00 price objective (up previously from $61.00) on shares of MetLife in a research note on Wednesday, July 12th. Finally, FBR & Co raised shares of MetLife from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $54.00 to $58.00 in a research note on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $57.95.
Shares of MetLife, Inc. (NYSE MET) opened at 48.35 on Friday. MetLife, Inc. has a 12-month low of $38.17 and a 12-month high of $51.77. The firm has a market capitalization of $51.39 billion, a P/E ratio of 568.82 and a beta of 1.44. The stock has a 50 day moving average of $47.81 and a 200-day moving average of $47.28.
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 analysts’ consensus estimates of $1.28 by $0.02. The firm had revenue of $17.39 billion for the quarter, compared to analysts’ expectations of $17.11 billion. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.83 EPS. On average, equities research analysts predict 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. Shareholders of record on Monday, August 7th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Thursday, August 3rd. MetLife’s payout ratio is 1,777.98%.
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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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