Pinebridge Investments L.P. boosted its stake in Metlife Inc (NYSE:MET) by 3.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 336,067 shares of the financial services provider’s stock after purchasing an additional 10,594 shares during the quarter. Pinebridge Investments L.P.’s holdings in Metlife were worth $16,692,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MET. MERIAN GLOBAL INVESTORS UK Ltd grew its position in Metlife by 57.5% during the first quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 3,642,132 shares of the financial services provider’s stock valued at $155,045,000 after buying an additional 1,330,398 shares during the period. Panagora Asset Management Inc. grew its stake in Metlife by 114.8% during the 2nd quarter. Panagora Asset Management Inc. now owns 2,286,663 shares of the financial services provider’s stock valued at $113,579,000 after acquiring an additional 1,222,194 shares in the last quarter. AJO LP lifted its holdings in shares of Metlife by 15,027.5% during the 1st quarter. AJO LP now owns 1,106,877 shares of the financial services provider’s stock valued at $47,120,000 after buying an additional 1,099,560 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Metlife by 18.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 5,986,416 shares of the financial services provider’s stock valued at $297,346,000 after buying an additional 933,688 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Metlife by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 12,421,536 shares of the financial services provider’s stock valued at $509,344,000 after buying an additional 856,479 shares during the last quarter. Institutional investors and hedge funds own 75.62% of the company’s stock.
MET has been the subject of several analyst reports. Wells Fargo & Co boosted their target price on Metlife from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, July 11th. Morgan Stanley lowered their price objective on Metlife from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 20th. Barclays raised their price objective on Metlife from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 22nd. Zacks Investment Research upgraded Metlife from a “sell” rating to a “hold” rating and set a $51.00 price objective on the stock in a research note on Friday, August 2nd. Finally, ValuEngine lowered Metlife from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Metlife has an average rating of “Hold” and an average price target of $49.61.
Shares of NYSE:MET traded up $0.77 during midday trading on Friday, reaching $48.64. The company’s stock had a trading volume of 3,652,626 shares, compared to its average volume of 6,185,524. The firm has a market capitalization of $44.41 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 1.00 and a beta of 1.11. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a 50 day moving average price of $46.47 and a two-hundred day moving average price of $46.76. Metlife Inc has a fifty-two week low of $37.76 and a fifty-two week high of $51.16.
Metlife (NYSE:MET) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.07. Metlife had a return on equity of 9.75% and a net margin of 9.28%. The company had revenue of $16.45 billion for the quarter, compared to the consensus estimate of $16.43 billion. During the same period in the previous year, the business earned $1.30 EPS. The firm’s revenue was down 22.4% compared to the same quarter last year. As a group, research analysts anticipate that Metlife Inc will post 5.65 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 6th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, August 5th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.62%. Metlife’s dividend payout ratio (DPR) is currently 32.65%.
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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