Louisiana State Employees Retirement System lowered its stake in shares of Metlife Inc (NYSE:MET) by 5.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,700 shares of the financial services provider’s stock after selling 2,800 shares during the period. Louisiana State Employees Retirement System’s holdings in Metlife were worth $2,429,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of Metlife by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 12,421,536 shares of the financial services provider’s stock worth $509,344,000 after purchasing an additional 856,479 shares in the last quarter. Clearbridge Investments LLC grew its stake in Metlife by 2.9% during the 1st quarter. Clearbridge Investments LLC now owns 11,907,582 shares of the financial services provider’s stock valued at $506,906,000 after acquiring an additional 332,510 shares in the last quarter. Norges Bank purchased a new stake in Metlife during the 4th quarter valued at about $274,580,000. LSV Asset Management grew its stake in Metlife by 1.0% during the 1st quarter. LSV Asset Management now owns 4,053,327 shares of the financial services provider’s stock valued at $172,550,000 after acquiring an additional 41,324 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in Metlife by 1.3% during the 1st quarter. Jennison Associates LLC now owns 3,869,086 shares of the financial services provider’s stock valued at $164,707,000 after acquiring an additional 51,272 shares in the last quarter. 75.73% of the stock is owned by institutional investors and hedge funds.
NYSE:MET opened at $50.14 on Friday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.24. The firm has a market cap of $47.87 billion, a price-to-earnings ratio of 9.30, a price-to-earnings-growth ratio of 1.09 and a beta of 1.10. The company has a 50-day moving average price of $49.56. Metlife Inc has a 1-year low of $37.76 and a 1-year high of $50.94.
Metlife (NYSE:MET) last posted its earnings results on Wednesday, May 1st. The financial services provider reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.18. The company had revenue of $15.45 billion for the quarter, compared to analyst estimates of $15.95 billion. Metlife had a net margin of 7.56% and a return on equity of 10.20%. Metlife’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.36 EPS. Sell-side analysts anticipate that Metlife Inc will post 5.59 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 6th will be issued a $0.44 dividend. The ex-dividend date is Monday, August 5th. This represents a $1.76 annualized dividend and a yield of 3.51%. Metlife’s payout ratio is 32.65%.
Several analysts recently issued reports on the stock. Citigroup cut shares of Barrick Gold to a “neutral” rating in a research note on Thursday, May 23rd. Wells Fargo & Co set a $33.00 price objective on shares of Matador Resources and gave the company a “hold” rating in a research note on Thursday, July 11th. ValuEngine raised shares of Yirendai from a “strong sell” rating to a “sell” rating in a research note on Friday, May 3rd. UBS Group upped their price objective on shares of Verisk Analytics from $106.00 to $111.00 and gave the company a “sell” rating in a research note on Tuesday, April 9th. Finally, Deutsche Bank upped their price objective on shares of Prudential Financial from $97.00 to $104.00 and gave the company a “hold” rating in a research note on Friday, April 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. Metlife presently has an average rating of “Hold” and an average price target of $50.73.
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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