BI Asset Management Fondsmaeglerselskab A S cut its holdings in MetLife, Inc. (NYSE:MET - Free Report) by 21.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 21,789 shares of the financial services provider's stock after selling 5,874 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in MetLife were worth $1,749,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the business. Eagle Strategies LLC boosted its holdings in shares of MetLife by 4.8% in the 4th quarter. Eagle Strategies LLC now owns 2,707 shares of the financial services provider's stock valued at $222,000 after buying an additional 123 shares during the period. Csenge Advisory Group boosted its holdings in shares of MetLife by 1.0% in the 1st quarter. Csenge Advisory Group now owns 13,647 shares of the financial services provider's stock valued at $1,096,000 after buying an additional 131 shares during the period. Stock Yards Bank & Trust Co. boosted its holdings in shares of MetLife by 2.5% in the 1st quarter. Stock Yards Bank & Trust Co. now owns 6,463 shares of the financial services provider's stock valued at $519,000 after buying an additional 159 shares during the period. Unigestion Holding SA boosted its holdings in shares of MetLife by 0.7% in the 1st quarter. Unigestion Holding SA now owns 23,661 shares of the financial services provider's stock valued at $1,900,000 after buying an additional 165 shares during the period. Finally, Davis R M Inc. boosted its stake in MetLife by 5.3% during the 1st quarter. Davis R M Inc. now owns 3,315 shares of the financial services provider's stock valued at $266,000 after purchasing an additional 167 shares during the period. 94.99% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have issued reports on MET. Jefferies Financial Group boosted their target price on shares of MetLife from $100.00 to $103.00 and gave the company a "buy" rating in a research note on Monday, August 11th. Wall Street Zen lowered shares of MetLife from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Keefe, Bruyette & Woods reduced their target price on shares of MetLife from $94.00 to $92.00 and set an "outperform" rating for the company in a research note on Monday, August 11th. Barclays boosted their target price on shares of MetLife from $88.00 to $94.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $97.00 target price (up from $94.00) on shares of MetLife in a research note on Thursday, July 10th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, MetLife has a consensus rating of "Moderate Buy" and an average price target of $95.60.
Read Our Latest Research Report on MET
MetLife Price Performance
Shares of MET stock traded up $2.1760 during midday trading on Friday, reaching $81.4160. 3,502,666 shares of the company were exchanged, compared to its average volume of 3,660,596. MetLife, Inc. has a 12 month low of $65.21 and a 12 month high of $89.05. The company has a market cap of $54.14 billion, a P/E ratio of 13.80, a PEG ratio of 0.73 and a beta of 0.85. The company's 50 day moving average price is $77.91 and its two-hundred day moving average price is $78.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.16 and a current ratio of 0.16.
MetLife (NYSE:MET - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $2.02 EPS for the quarter, missing analysts' consensus estimates of $2.32 by ($0.30). MetLife had a return on equity of 19.88% and a net margin of 5.83%.The company had revenue of $17.34 billion for the quarter, compared to the consensus estimate of $18.58 billion. During the same quarter last year, the firm posted $2.28 earnings per share. The firm's quarterly revenue was down 2.7% compared to the same quarter last year. On average, sell-side analysts expect that MetLife, Inc. will post 9.65 earnings per share for the current year.
MetLife announced that its board has approved a share repurchase program on Wednesday, April 30th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 5.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its shares are undervalued.
MetLife Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 5th will be given a dividend of $0.5675 per share. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Tuesday, August 5th. MetLife's payout ratio is 38.47%.
MetLife Company Profile
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Free Report)
MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; 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, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.
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