Aviance Capital Management LLC acquired a new stake in MetLife Inc. (NYSE:MET) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,901 shares of the company’s stock, valued at approximately $274,000.
Other institutional investors have also recently modified their holdings of the company. Argyle Capital Management Inc. raised its position in shares of MetLife by 14.8% in the second quarter. Argyle Capital Management Inc. now owns 53,425 shares of the company’s stock valued at $2,128,000 after buying an additional 6,900 shares during the last quarter. Artemis Investment Management LLP raised its position in shares of MetLife by 17.4% in the second quarter. Artemis Investment Management LLP now owns 2,107,318 shares of the company’s stock valued at $83,945,000 after buying an additional 312,816 shares during the last quarter. PGGM Investments raised its position in shares of MetLife by 5.7% in the second quarter. PGGM Investments now owns 634,775 shares of the company’s stock valued at $25,283,000 after buying an additional 34,194 shares during the last quarter. Genesee Valley Trust Co. raised its position in shares of MetLife by 0.9% in the second quarter. Genesee Valley Trust Co. now owns 29,745 shares of the company’s stock valued at $1,185,000 after buying an additional 259 shares during the last quarter. Finally, Strs Ohio raised its position in shares of MetLife by 29.8% in the second quarter. Strs Ohio now owns 2,298,299 shares of the company’s stock valued at $91,541,000 after buying an additional 527,091 shares during the last quarter. 74.80% of the stock is currently owned by institutional investors.
Shares of MetLife Inc. (NYSE:MET) traded up 0.87% on Wednesday, hitting $44.13. 5,922,050 shares of the stock were exchanged. The firm’s 50-day moving average is $42.55 and its 200-day moving average is $43.03. MetLife Inc. has a one year low of $35.00 and a one year high of $52.45. The company has a market cap of $48.49 billion, a P/E ratio of 11.60 and a beta of 1.87.
MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $1.35 by $0.52. The company earned $17 billion during the quarter, compared to analyst estimates of $17.35 billion. MetLife had a net margin of 6.49% and a return on equity of 6.18%. The company’s revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.56 EPS. On average, equities analysts forecast that MetLife Inc. will post $4.65 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Monday, August 8th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.63%. The ex-dividend date was Thursday, August 4th. MetLife’s payout ratio is presently 42.11%.
Several equities analysts have issued reports on the company. Wells Fargo & Co. reaffirmed an “outperform” rating on shares of MetLife in a report on Friday, September 23rd. Argus reaffirmed a “buy” rating and set a $54.00 price objective on shares of MetLife in a report on Wednesday, September 7th. FBR & Co increased their target price on shares of MetLife from $51.00 to $54.00 and gave the stock an “outperform” rating in a research note on Monday, August 29th. TheStreet downgraded shares of MetLife from a “buy” rating to a “hold” rating in a research note on Wednesday, August 24th. Finally, Deutsche Bank AG downgraded shares of MetLife from a “buy” rating to a “hold” rating and decreased their target price for the stock from $47.00 to $44.00 in a research note on Wednesday, July 13th. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $52.45.
In other MetLife news, EVP Maria R. Morris sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $42.96, for a total value of $85,920.00. Following the completion of the sale, the executive vice president now owns 109,273 shares in the company, valued at approximately $4,694,368.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is currently owned by company insiders.
MetLife, Inc (MetLife) is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include Retail; Group, Voluntary & Worksite Benefits; Corporate Benefit Funding; Latin America (collectively, the Americas); Asia, and Europe, the Middle East and Africa (EMEA).
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