Eagle Global Advisors LLC reduced its holdings in shares of MetLife (NYSE:MET) by 18.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,881 shares of the financial services provider’s stock after selling 1,606 shares during the period. Eagle Global Advisors LLC’s holdings in MetLife were worth $316,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Cowen Prime Services LLC lifted its stake in MetLife by 13.8% in the fourth quarter. Cowen Prime Services LLC now owns 8,250 shares of the financial services provider’s stock worth $417,000 after acquiring an additional 1,000 shares during the period. Jolley Asset Management LLC increased its holdings in shares of MetLife by 1.4% during the fourth quarter. Jolley Asset Management LLC now owns 76,446 shares of the financial services provider’s stock valued at $3,865,000 after acquiring an additional 1,085 shares in the last quarter. DnB Asset Management AS increased its holdings in shares of MetLife by 1.2% during the fourth quarter. DnB Asset Management AS now owns 93,039 shares of the financial services provider’s stock valued at $4,704,000 after acquiring an additional 1,100 shares in the last quarter. ARGI Investment Services LLC increased its holdings in shares of MetLife by 5.5% during the first quarter. ARGI Investment Services LLC now owns 21,262 shares of the financial services provider’s stock valued at $976,000 after acquiring an additional 1,116 shares in the last quarter. Finally, Boys Arnold & Co. Inc. increased its holdings in shares of MetLife by 5.6% during the first quarter. Boys Arnold & Co. Inc. now owns 21,089 shares of the financial services provider’s stock valued at $1,001,000 after acquiring an additional 1,125 shares in the last quarter. Institutional investors and hedge funds own 79.37% of the company’s stock.
Shares of MetLife opened at $48.18 on Friday, according to Marketbeat.com. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.15 and a quick ratio of 0.15. MetLife has a 1-year low of $47.28 and a 1-year high of $47.67. The firm has a market cap of $48.68 billion, a P/E ratio of 10.71, a P/E/G ratio of 0.83 and a beta of 1.24.
MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, May 2nd. The financial services provider reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.19. The company had revenue of $15.15 billion during the quarter, compared to analysts’ expectations of $15.52 billion. MetLife had a return on equity of 8.70% and a net margin of 6.48%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period last year, the business posted $1.20 earnings per share. equities analysts forecast that MetLife will post 5.07 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 13th. Investors of record on Monday, May 7th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.49%. This is a positive change from MetLife’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, May 4th. MetLife’s dividend payout ratio (DPR) is 37.33%.
In related news, Director Gerald L. Hassell bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 9th. The shares were purchased at an average cost of $46.18 per share, with a total value of $461,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is owned by company insiders.
Several research firms recently commented on MET. Zacks Investment Research downgraded MetLife from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Goldman Sachs restated a “buy” rating on shares of MetLife in a research note on Wednesday, January 31st. Wells Fargo cut their price target on MetLife from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, January 30th. ValuEngine cut MetLife from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Credit Suisse Group initiated coverage on MetLife in a report on Wednesday, April 25th. They issued an “outperform” rating and a $67.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $56.81.
MetLife Company Profile
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short- and long-term disability, individual disability, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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