Nissay Asset Management Corp Japan ADV raised its stake in Metlife Inc (NYSE:MET) by 2.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 115,792 shares of the financial services provider’s stock after acquiring an additional 3,287 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Metlife were worth $5,049,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of MET. Diamond Hill Capital Management Inc. lifted its holdings in shares of Metlife by 38.5% in the first quarter. Diamond Hill Capital Management Inc. now owns 10,883,295 shares of the financial services provider’s stock worth $499,434,000 after acquiring an additional 3,027,327 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Metlife by 39.3% in the second quarter. Pzena Investment Management LLC now owns 8,314,788 shares of the financial services provider’s stock worth $362,525,000 after acquiring an additional 2,346,866 shares during the last quarter. Old Mutual Global Investors UK Ltd. lifted its holdings in shares of Metlife by 1,712.2% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 1,791,638 shares of the financial services provider’s stock worth $82,218,000 after acquiring an additional 1,692,775 shares during the last quarter. Ceredex Value Advisors LLC bought a new position in shares of Metlife in the first quarter worth about $65,615,000. Finally, BlackRock Inc. lifted its holdings in shares of Metlife by 1.8% in the first quarter. BlackRock Inc. now owns 74,542,993 shares of the financial services provider’s stock worth $3,420,777,000 after acquiring an additional 1,346,914 shares during the last quarter. 77.16% of the stock is owned by hedge funds and other institutional investors.
MET has been the subject of a number of research reports. Credit Suisse Group dropped their target price on shares of Metlife from $67.00 to $63.00 and set an “outperform” rating for the company in a report on Friday. Morgan Stanley dropped their target price on shares of Metlife from $53.00 to $52.00 and set an “equal weight” rating for the company in a report on Wednesday, July 11th. Barclays dropped their target price on shares of Metlife from $60.00 to $57.00 and set an “overweight” rating for the company in a report on Monday, July 9th. Goldman Sachs Group cut shares of Metlife from a “buy” rating to a “neutral” rating and increased their target price for the stock from $55.91 to $61.00 in a report on Monday, June 4th. Finally, Zacks Investment Research cut shares of Metlife from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $54.80.
Shares of NYSE MET opened at $45.94 on Friday. The company has a market capitalization of $44.42 billion, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 0.68 and a beta of 1.23. Metlife Inc has a 1 year low of $43.09 and a 1 year high of $55.91. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.15 and a quick ratio of 0.15.
Metlife (NYSE:MET) last issued its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. The business had revenue of $21.22 billion during the quarter, compared to analyst estimates of $15.65 billion. Metlife had a net margin of 6.12% and a return on equity of 9.17%. The firm’s quarterly revenue was up 36.8% on a year-over-year basis. During the same quarter last year, the business earned $1.04 EPS. analysts forecast that Metlife Inc will post 5.22 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 13th. Investors of record on Monday, August 6th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, August 3rd. This represents a $1.68 dividend on an annualized basis and a yield of 3.66%. Metlife’s dividend payout ratio (DPR) is presently 37.33%.
Metlife declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 22nd that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the financial services provider to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
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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