Meridian Investment Counsel Inc. increased its position in shares of Metlife Inc (NYSE:MET) by 2.1% during the second quarter, Holdings Channel reports. The institutional investor owned 49,823 shares of the financial services provider’s stock after purchasing an additional 1,026 shares during the period. Metlife comprises about 1.4% of Meridian Investment Counsel Inc.’s portfolio, making the stock its 19th largest holding. Meridian Investment Counsel Inc.’s holdings in Metlife were worth $2,475,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Aperio Group LLC raised its stake in Metlife by 11.7% during the 2nd quarter. Aperio Group LLC now owns 563,376 shares of the financial services provider’s stock worth $27,983,000 after buying an additional 58,966 shares during the period. Abner Herrman & Brock LLC raised its stake in shares of Metlife by 253.9% in the second quarter. Abner Herrman & Brock LLC now owns 244,240 shares of the financial services provider’s stock worth $12,131,000 after purchasing an additional 175,225 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Metlife by 14.3% in the second quarter. Janus Henderson Group PLC now owns 304,998 shares of the financial services provider’s stock worth $15,147,000 after purchasing an additional 38,109 shares during the last quarter. Hallmark Capital Management Inc. raised its stake in shares of Metlife by 24.7% in the first quarter. Hallmark Capital Management Inc. now owns 37,913 shares of the financial services provider’s stock worth $1,614,000 after purchasing an additional 7,498 shares during the last quarter. Finally, Unison Advisors LLC raised its stake in shares of Metlife by 1.0% in the second quarter. Unison Advisors LLC now owns 21,133 shares of the financial services provider’s stock worth $1,049,000 after purchasing an additional 200 shares during the last quarter. 75.62% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently commented on MET. Wells Fargo & Co increased their price objective on Metlife from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 11th. Citigroup set a $42.00 price objective on Metlife and gave the stock a “sell” rating in a research note on Thursday, May 23rd. Morgan Stanley lowered their price objective on Metlife from $54.00 to $53.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 20th. 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 note on Friday, August 2nd. Finally, Barclays increased their price objective on Metlife from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 22nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $49.71.
Shares of MET stock traded down $0.07 during trading on Thursday, hitting $47.90. The company’s stock had a trading volume of 3,225,654 shares, compared to its average volume of 5,332,453. The company has a market cap of $44.28 billion, a PE ratio of 8.89, a P/E/G ratio of 0.98 and a beta of 1.11. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.22. The business has a fifty day moving average of $46.47 and a 200-day moving average of $46.76. Metlife Inc has a 52 week low of $37.76 and a 52 week high of $51.16.
Metlife (NYSE:MET) last released its earnings results on Wednesday, July 31st. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.07. The company had revenue of $16.45 billion during 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%. Metlife’s quarterly revenue was down 22.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 earnings per share. As a group, research analysts predict that Metlife Inc will post 5.65 EPS for the current year.
The firm also recently announced 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. This represents a $1.76 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Monday, August 5th. Metlife’s dividend payout ratio is presently 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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