Russell Investments Group Ltd. reduced its stake in shares of MetLife, Inc. (NYSE:MET) by 8.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,094,749 shares of the financial services provider’s stock after selling 101,073 shares during the period. Russell Investments Group Ltd. owned 0.10% of MetLife worth $60,152,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. Macquarie Group Ltd. raised its stake in shares of MetLife by 10.0% in the fourth quarter. Macquarie Group Ltd. now owns 325,781 shares of the financial services provider’s stock valued at $17,557,000 after buying an additional 29,682 shares during the last quarter. Carroll Financial Associates Inc. raised its stake in shares of MetLife by 15.0% in the first quarter. Carroll Financial Associates Inc. now owns 2,847 shares of the financial services provider’s stock valued at $150,000 after buying an additional 372 shares during the last quarter. E&G Advisors LP raised its stake in shares of MetLife by 9.9% in the first quarter. E&G Advisors LP now owns 5,571 shares of the financial services provider’s stock valued at $294,000 after buying an additional 500 shares during the last quarter. Bank of Montreal Can raised its stake in shares of MetLife by 14.9% in the first quarter. Bank of Montreal Can now owns 1,510,026 shares of the financial services provider’s stock valued at $79,760,000 after buying an additional 196,115 shares during the last quarter. Finally, First National Bank of Omaha acquired a new stake in shares of MetLife during the first quarter valued at approximately $206,000. 74.83% of the stock is currently owned by institutional investors.
Shares of MetLife, Inc. (NYSE:MET) traded down 0.075% during trading on Friday, reaching $46.705. The company had a trading volume of 3,061,785 shares. The firm’s 50 day moving average price is $48.79 and its 200 day moving average price is $47.32. MetLife, Inc. has a 12 month low of $35.21 and a 12 month high of $51.77. The firm has a market capitalization of $49.64 billion, a P/E ratio of 549.471 and a beta of 1.46.
MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.02. The business 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 company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the firm earned $0.83 earnings per share. Equities analysts predict that MetLife, Inc. will post $4.91 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Monday, August 7th will be paid a $0.40 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.42%. MetLife’s dividend payout ratio (DPR) is 1,777.98%.
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MET has been the topic of several research analyst reports. Wells Fargo & Company reissued a “buy” rating on shares of MetLife in a report on Tuesday, April 18th. Zacks Investment Research lowered MetLife from a “buy” rating to a “hold” rating in a report on Thursday, April 20th. TheStreet lowered MetLife from a “b-” rating to a “c” rating in a report on Tuesday, May 16th. FBR & Co raised MetLife from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $54.00 to $58.00 in a report on Thursday, May 25th. Finally, BidaskClub raised MetLife from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $59.17.
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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