Nelson Van Denburg & Campbell Wealth Management Group LLC reduced its position in shares of MetLife, Inc. (NYSE:MET) by 3.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,118 shares of the financial services provider’s stock after selling 979 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC’s holdings in MetLife were worth $1,300,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Signature Estate & Investment Advisors LLC purchased a new stake in MetLife during the first quarter worth $107,000. First Personal Financial Services raised its stake in MetLife by 11.5% in the first quarter. First Personal Financial Services now owns 2,588 shares of the financial services provider’s stock worth $137,000 after buying an additional 266 shares during the period. Westside Investment Management Inc. raised its stake in MetLife by 583.8% in the first quarter. Westside Investment Management Inc. now owns 2,694 shares of the financial services provider’s stock worth $140,000 after buying an additional 2,300 shares during the period. First Mercantile Trust Co. purchased a new stake in MetLife during the first quarter worth $149,000. Finally, Carroll Financial Associates Inc. raised its stake in MetLife by 15.0% in the first quarter. Carroll Financial Associates Inc. now owns 2,847 shares of the financial services provider’s stock worth $150,000 after buying an additional 372 shares during the period. 74.83% of the stock is owned by hedge funds and other institutional investors.
MetLife, Inc. (NYSE:MET) opened at 46.81 on Friday. The stock’s 50 day moving average is $49.46 and its 200-day moving average is $51.76. The company has a market capitalization of $49.75 billion, a P/E ratio of 550.71 and a beta of 1.46. MetLife, Inc. has a 1-year low of $39.99 and a 1-year high of $51.77.
MetLife (NYSE:MET) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, topping the 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 firm had revenue of $17.39 billion for the quarter, compared to the consensus estimate of $17.11 billion. During the same period in the prior year, the firm earned $0.83 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts expect that MetLife, Inc. will post $4.91 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Thursday, August 3rd. MetLife’s dividend payout ratio is presently 1,777.98%.
A number of analysts recently weighed in 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. Royal Bank Of Canada reissued a “buy” rating and issued a $62.00 price objective on shares of MetLife in a research report on Wednesday, July 12th. Wells Fargo & Company reissued an “outperform” rating and issued a $63.00 price objective (up from $61.00) on shares of MetLife in a research report on Wednesday, July 12th. Keefe, Bruyette & Woods reissued a “buy” rating and issued 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 research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. MetLife currently has an average rating of “Hold” and a consensus price target of $59.17.
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; 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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