Commerce Bank cut its holdings in shares of Metlife Inc (NYSE:MET) by 0.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 213,757 shares of the financial services provider’s stock after selling 839 shares during the quarter. Commerce Bank’s holdings in Metlife were worth $6,535,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Hancock Whitney Corp lifted its holdings in shares of Metlife by 43.0% during the first quarter. Hancock Whitney Corp now owns 212,591 shares of the financial services provider’s stock worth $6,498,000 after buying an additional 63,946 shares during the last quarter. Shoker Investment Counsel Inc. raised its stake in shares of Metlife by 28.1% in the first quarter. Shoker Investment Counsel Inc. now owns 27,755 shares of the financial services provider’s stock valued at $848,000 after purchasing an additional 6,081 shares in the last quarter. Capital Analysts LLC raised its stake in shares of Metlife by 6.2% in the first quarter. Capital Analysts LLC now owns 37,859 shares of the financial services provider’s stock valued at $1,157,000 after purchasing an additional 2,219 shares in the last quarter. Citizens Financial Group Inc RI raised its stake in shares of Metlife by 10.9% in the first quarter. Citizens Financial Group Inc RI now owns 4,688 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 461 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Metlife by 20.9% in the first quarter. Swiss National Bank now owns 3,033,876 shares of the financial services provider’s stock valued at $92,746,000 after purchasing an additional 524,100 shares in the last quarter. Institutional investors own 74.04% of the company’s stock.
Shares of MET stock opened at $33.34 on Friday. The stock’s fifty day moving average is $32.93 and its 200-day moving average is $43.33. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market capitalization of $30.40 billion, a PE ratio of 3.55 and a beta of 1.33. Metlife Inc has a 52 week low of $22.85 and a 52 week high of $53.28.
Metlife (NYSE:MET) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.44 by $0.14. The company had revenue of $15.54 billion for the quarter, compared to analysts’ expectations of $16.38 billion. Metlife had a return on equity of 8.85% and a net margin of 12.37%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.48 earnings per share. As a group, analysts forecast that Metlife Inc will post 5.39 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 8th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 5.52%. The ex-dividend date of this dividend is Thursday, May 7th. This is a boost from Metlife’s previous quarterly dividend of $0.44. Metlife’s dividend payout ratio is presently 30.11%.
A number of research analysts recently commented on MET shares. Citigroup upgraded Metlife from a “sell” rating to a “neutral” rating and cut their target price for the company from $46.00 to $32.00 in a research note on Monday, March 16th. Morgan Stanley increased their price objective on Metlife from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. ValuEngine lowered Metlife from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 23rd. Royal Bank of Canada increased their price objective on Metlife from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Finally, Credit Suisse Group dropped their price objective on Metlife from $60.00 to $46.00 and set an “outperform” rating for the company in a research note on Monday, April 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $42.25.
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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