Mackenzie Financial Corp decreased its position in MetLife, Inc. (NYSE:MET) by 41.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 228,285 shares of the financial services provider’s stock after selling 161,805 shares during the quarter. Mackenzie Financial Corp’s holdings in MetLife were worth $13,663,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of MetLife by 8.9% in the second quarter. BlackRock Inc. now owns 71,059,433 shares of the financial services provider’s stock valued at $4,252,908,000 after purchasing an additional 5,797,903 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of MetLife by 11.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 42,559,456 shares of the financial services provider’s stock worth $2,587,189,000 after acquiring an additional 4,515,838 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of MetLife by 2.6% in the first quarter. Geode Capital Management LLC now owns 11,679,417 shares of the financial services provider’s stock worth $707,945,000 after acquiring an additional 301,013 shares during the last quarter. Morgan Stanley grew its stake in shares of MetLife by 25.0% in the first quarter. Morgan Stanley now owns 11,383,061 shares of the financial services provider’s stock worth $691,976,000 after acquiring an additional 2,276,706 shares during the last quarter. Finally, Pzena Investment Management LLC grew its stake in shares of MetLife by 2.0% in the second quarter. Pzena Investment Management LLC now owns 5,275,480 shares of the financial services provider’s stock worth $315,737,000 after acquiring an additional 102,108 shares during the last quarter. 74.60% of the stock is currently owned by institutional investors.
Shares of NYSE:MET opened at $61.36 on Friday. MetLife, Inc. has a 52 week low of $35.38 and a 52 week high of $67.68. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.15 and a current ratio of 0.15. The company’s fifty day moving average is $60.33 and its 200-day moving average is $61.60. The company has a market capitalization of $52.58 billion, a PE ratio of 12.30, a P/E/G ratio of 1.02 and a beta of 1.31.
MetLife declared that its board has initiated a share buyback plan on Wednesday, August 4th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 14th. Investors of record on Tuesday, August 10th were issued a $0.48 dividend. The ex-dividend date of this dividend was Monday, August 9th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.13%. MetLife’s dividend payout ratio is 31.17%.
Several brokerages have recently issued reports on MET. Morgan Stanley raised their price objective on shares of MetLife from $73.00 to $74.00 and gave the stock an “overweight” rating in a research note on Thursday, August 5th. raised their price objective on shares of MetLife from $69.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, June 21st. TheStreet upgraded shares of MetLife from a “c+” rating to a “b” rating in a research note on Wednesday, August 4th. Finally, Zacks Investment Research upgraded shares of MetLife from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research note on Tuesday, June 15th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $64.92.
MetLife, Inc provides insurance and financial services to individual and institutional customers. It offers life insurance, annuities, automobile and homeowner’s insurance and retail banking services to individuals as well as group insurance, reinsurance and retirement and savings products and services.
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