SRB Corp purchased a new stake in Metlife Inc (NYSE:MET) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 10,036 shares of the financial services provider’s stock, valued at approximately $498,000.
Several other hedge funds and other institutional investors have also made changes to their positions in MET. BlackRock Inc. raised its position in shares of Metlife by 1.9% in the second quarter. BlackRock Inc. now owns 72,819,515 shares of the financial services provider’s stock valued at $3,616,945,000 after buying an additional 1,385,433 shares during the last quarter. Panagora Asset Management Inc. increased its position in Metlife by 114.8% during the second quarter. Panagora Asset Management Inc. now owns 2,286,663 shares of the financial services provider’s stock worth $113,579,000 after purchasing an additional 1,222,194 shares during the last quarter. AJO LP increased its position in Metlife by 15,027.5% during the first quarter. AJO LP now owns 1,106,877 shares of the financial services provider’s stock worth $47,120,000 after purchasing an additional 1,099,560 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Metlife by 18.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 5,986,416 shares of the financial services provider’s stock worth $297,346,000 after purchasing an additional 933,688 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in 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 during the last quarter. 75.55% of the stock is currently owned by institutional investors.
MET has been the subject of several research analyst reports. Morgan Stanley dropped their price target on shares of Metlife from $54.00 to $53.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 20th. Citigroup dropped their price target on shares of Metlife from $42.00 to $41.00 and set a “sell” rating for the company in a research report on Friday. ValuEngine lowered shares of Metlife from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Wells Fargo & Co upped their price target on shares of Metlife from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, July 11th. Finally, Zacks Investment Research raised shares of Metlife from a “sell” rating to a “hold” rating and set a $51.00 price target for the company in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. Metlife currently has an average rating of “Hold” and an average target price of $49.61.
Metlife (NYSE:MET) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.07. Metlife had a net margin of 9.28% and a return on equity of 9.75%. The company had revenue of $16.45 billion during the quarter, compared to analyst estimates of $16.43 billion. During the same quarter in the prior year, the business earned $1.30 earnings per share. The business’s quarterly revenue was down 22.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Metlife Inc will post 5.65 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 6th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Monday, August 5th. Metlife’s payout ratio 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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