Reynders McVeigh Capital Management LLC acquired a new position in shares of Metlife Inc (NYSE:MET) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,922 shares of the financial services provider’s stock, valued at approximately $244,000.
Several other institutional investors also recently made changes to their positions in MET. Jackson Grant Investment Advisers Inc. grew its stake in shares of Metlife by 4,407.7% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 586 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 573 shares during the period. Kavar Capital Partners LLC acquired a new stake in shares of Metlife during the second quarter worth $25,000. Osborn Williams & Donohoe LLC acquired a new stake in shares of Metlife during the first quarter worth $26,000. Meridian Wealth Management LLC bought a new position in Metlife during the first quarter worth about $26,000. Finally, Advisory Alpha LLC bought a new position in Metlife during the first quarter worth about $27,000. 76.14% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on the company. ValuEngine lowered Metlife from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Zacks Investment Research upgraded Metlife from a “sell” rating to a “hold” rating and set a $51.00 target price on the stock in a report on Friday, August 2nd. Citigroup set a $42.00 target price on Metlife and gave the stock a “sell” rating in a report on Thursday, May 23rd. Barclays lifted their target price on Metlife from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Wednesday, May 22nd. Finally, Morgan Stanley reduced their target price on Metlife from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 20th. 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 stock. The company has an average rating of “Hold” and an average price target of $49.71.
Metlife (NYSE:MET) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $1.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.07. The firm had revenue of $16.45 billion for the quarter, compared to analyst estimates of $16.43 billion. Metlife had a return on equity of 9.75% and a net margin of 9.28%. The company’s revenue for the quarter was down 22.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.30 earnings per share. On average, analysts expect that Metlife Inc will post 5.65 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 6th will be issued a $0.44 dividend. The ex-dividend date is Monday, August 5th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.95%. Metlife’s dividend payout ratio (DPR) is 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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