Envestnet Asset Management Inc. increased its position in Metlife Inc (NYSE:MET) by 8.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 936,058 shares of the financial services provider’s stock after purchasing an additional 73,684 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.10% of Metlife worth $46,494,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MET. MERIAN GLOBAL INVESTORS UK Ltd lifted its stake in shares of Metlife by 57.5% in the 1st 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 purchasing an additional 1,330,398 shares during the period. AJO LP lifted its stake in shares of Metlife by 15,027.5% in the 1st quarter. AJO LP now owns 1,106,877 shares of the financial services provider’s stock valued at $47,120,000 after purchasing an additional 1,099,560 shares during the period. SG Americas Securities LLC lifted its stake in shares of Metlife by 135.7% in the 1st quarter. SG Americas Securities LLC now owns 230,540 shares of the financial services provider’s stock valued at $9,814,000 after purchasing an additional 875,770 shares during the period. Geode Capital Management LLC lifted its stake in shares of Metlife by 7.4% in 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 purchasing an additional 856,479 shares during the period. Finally, Clark Capital Management Group Inc. purchased a new position in shares of Metlife in the 2nd quarter valued at approximately $29,431,000. Institutional investors own 75.13% of the company’s stock.
MET stock traded up $0.62 on Friday, reaching $45.35. 7,142,900 shares of the company traded hands, compared to its average volume of 6,000,278. Metlife Inc has a one year low of $37.76 and a one year high of $51.16. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.14 and a quick ratio of 0.14. The company has a market cap of $42.02 billion, a P/E ratio of 8.41, a price-to-earnings-growth ratio of 0.95 and a beta of 1.09. The firm has a fifty day simple moving average of $49.07 and a 200-day simple moving average of $46.70.
Metlife (NYSE:MET) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.38 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 during the quarter, compared to analyst estimates of $16.43 billion. During the same quarter last year, the company earned $1.30 EPS. The firm’s revenue for the quarter was down 22.4% on a year-over-year basis. On average, sell-side analysts forecast that Metlife Inc will post 5.65 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 6th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend is Monday, August 5th. Metlife’s dividend payout ratio (DPR) is presently 32.65%.
A number of research firms have recently commented on MET. Barclays raised their target price on Metlife from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. Zacks Investment Research raised Metlife from a “sell” rating to a “hold” rating and set a $51.00 price objective for the company in a research report on Friday, August 2nd. ValuEngine lowered Metlife from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Wells Fargo & Co raised their price objective on Metlife from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th. Finally, Citigroup set a $42.00 price objective on Metlife and gave the company a “sell” rating in a research report on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. Metlife currently has a consensus rating of “Hold” and an average price target of $50.91.
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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