Crawford Investment Counsel Inc. boosted its position in Metlife Inc (NYSE:MET) by 24.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,145,798 shares of the financial services provider’s stock after purchasing an additional 227,787 shares during the period. Metlife comprises approximately 1.5% of Crawford Investment Counsel Inc.’s portfolio, making the stock its 27th biggest holding. Crawford Investment Counsel Inc.’s holdings in Metlife were worth $48,777,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. bought a new stake in Metlife in the 4th quarter valued at about $275,000. Security National Trust Co. increased its holdings in Metlife by 49.0% during the 4th quarter. Security National Trust Co. now owns 20,899 shares of the financial services provider’s stock worth $858,000 after purchasing an additional 6,875 shares in the last quarter. CWM LLC increased its holdings in Metlife by 111.4% during the 4th quarter. CWM LLC now owns 983 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 518 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Metlife by 2.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 491,151 shares of the financial services provider’s stock worth $20,167,000 after purchasing an additional 10,095 shares in the last quarter. Finally, Cutler Capital Management LLC increased its holdings in Metlife by 11.5% during the 4th quarter. Cutler Capital Management LLC now owns 178,103 shares of the financial services provider’s stock worth $7,313,000 after purchasing an additional 18,425 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.
A number of analysts have commented on MET shares. Sandler O’Neill lowered Metlife from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a report on Tuesday, March 19th. Argus reissued a “buy” rating on shares of Metlife in a report on Tuesday, February 12th. ValuEngine lowered Metlife from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Deutsche Bank boosted their price objective on Metlife from $46.00 to $47.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Finally, UBS Group boosted their price objective on Metlife from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $51.39.
Metlife (NYSE:MET) last posted its earnings results on Wednesday, May 1st. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.18. The firm had revenue of $15.45 billion for the quarter, compared to the consensus estimate of $15.95 billion. Metlife had a return on equity of 10.20% and a net margin of 7.56%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.36 earnings per share. On average, analysts predict that Metlife Inc will post 5.61 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Tuesday, May 7th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $1.76 annualized dividend and a dividend yield of 3.68%. This is an increase from Metlife’s previous quarterly dividend of $0.42. Metlife’s dividend payout ratio is currently 32.65%.
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.
Further Reading: Special Dividends
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