American International Group Inc. lowered its holdings in shares of Metlife Inc (NYSE:MET) by 2.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 325,703 shares of the financial services provider’s stock after selling 8,341 shares during the quarter. American International Group Inc.’s holdings in Metlife were worth $14,201,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of MET. Algebris UK Ltd boosted its holdings in Metlife by 110.2% during the first quarter. Algebris UK Ltd now owns 272,090 shares of the financial services provider’s stock worth $12,486,000 after purchasing an additional 142,650 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in Metlife by 38.5% during 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 purchasing an additional 3,027,327 shares during the last quarter. FTB Advisors Inc. boosted its holdings in Metlife by 12.0% during the first quarter. FTB Advisors Inc. now owns 151,360 shares of the financial services provider’s stock worth $6,993,000 after purchasing an additional 16,248 shares during the last quarter. Dupont Capital Management Corp boosted its holdings in Metlife by 35.0% during the first quarter. Dupont Capital Management Corp now owns 6,613 shares of the financial services provider’s stock worth $303,000 after purchasing an additional 1,713 shares during the last quarter. Finally, Sentry Investment Management LLC boosted its holdings in Metlife by 3.2% during the first quarter. Sentry Investment Management LLC now owns 78,639 shares of the financial services provider’s stock worth $3,609,000 after purchasing an additional 2,473 shares during the last quarter. Institutional investors own 77.16% of the company’s stock.
Several brokerages recently commented on MET. Wells Fargo & Co restated a “buy” rating on shares of Metlife in a report on Tuesday, May 8th. Deutsche Bank reduced their target price on shares of Metlife from $51.00 to $48.00 and set a “hold” rating for the company in a report on Friday, May 4th. Zacks Investment Research cut shares of Metlife from a “buy” rating to a “hold” rating in a report on Tuesday, July 3rd. B. Riley reduced their target price on shares of Metlife from $58.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, July 16th. Finally, Morgan Stanley reduced 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. Metlife has a consensus rating of “Hold” and a consensus target price of $54.80.
NYSE MET opened at $46.12 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.15 and a current ratio of 0.15. Metlife Inc has a 1 year low of $43.09 and a 1 year high of $55.91. The firm has a market cap of $44.42 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 0.68 and a beta of 1.23.
Metlife (NYSE:MET) last posted its quarterly earnings results on Wednesday, August 1st. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.13. Metlife had a net margin of 6.12% and a return on equity of 9.17%. The firm had revenue of $21.22 billion for the quarter, compared to analyst estimates of $15.65 billion. During the same period in the prior year, the firm posted $1.04 earnings per share. The company’s quarterly revenue was up 36.8% compared to the same quarter last year. equities research analysts anticipate that Metlife Inc will post 5.22 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 13th. Shareholders of record on Monday, August 6th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend is Friday, August 3rd. Metlife’s dividend payout ratio (DPR) is currently 37.33%.
Metlife announced that its board has initiated a stock buyback program on Tuesday, May 22nd that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is 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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