Brown Advisory Inc. reduced its stake in shares of MetLife Inc. (NYSE:MET) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,275 shares of the company’s stock after selling 618 shares during the period. Brown Advisory Inc.’s holdings in MetLife were worth $1,724,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in MetLife by 10.1% in the second quarter. JPMorgan Chase & Co. now owns 38,433,688 shares of the company’s stock worth $1,530,815,000 after buying an additional 3,530,969 shares during the last quarter. Wellington Management Group LLP raised its position in MetLife by 0.6% in the first quarter. Wellington Management Group LLP now owns 34,882,341 shares of the company’s stock worth $1,532,730,000 after buying an additional 218,299 shares during the last quarter. Dodge & Cox raised its position in MetLife by 10.2% in the first quarter. Dodge & Cox now owns 30,948,079 shares of the company’s stock worth $1,359,859,000 after buying an additional 2,861,828 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in MetLife by 3.2% in the first quarter. TIAA CREF Investment Management LLC now owns 10,253,437 shares of the company’s stock worth $450,536,000 after buying an additional 319,051 shares during the last quarter. Finally, BlackRock Group LTD raised its position in MetLife by 5.6% in the first quarter. BlackRock Group LTD now owns 9,783,399 shares of the company’s stock worth $429,882,000 after buying an additional 517,732 shares during the last quarter. 74.80% of the stock is owned by institutional investors and hedge funds.
Shares of MetLife Inc. (NYSE:MET) traded down 1.37% on Monday, reaching $43.91. 1,567,685 shares of the company were exchanged. MetLife Inc. has a 12 month low of $35.00 and a 12 month high of $52.45. The stock has a 50 day moving average price of $42.34 and a 200-day moving average price of $43.00. The stock has a market capitalization of $48.25 billion, a P/E ratio of 11.54 and a beta of 1.87.
MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.83 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.35 by $0.52. MetLife had a net margin of 6.49% and a return on equity of 6.18%. The company had revenue of $17 billion for the quarter, compared to analysts’ expectations of $17.35 billion. During the same quarter in the previous year, the business posted $1.56 EPS. The business’s quarterly revenue was down 2.3% on a year-over-year basis. On average, equities analysts expect that MetLife Inc. will post $4.65 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Monday, August 8th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.59%. The ex-dividend date was Thursday, August 4th. MetLife’s payout ratio is 42.11%.
A number of research firms have issued reports on MET. Zacks Investment Research raised shares of MetLife from a “sell” rating to a “hold” rating in a research note on Thursday, July 7th. Citigroup Inc. reduced their target price on shares of MetLife from $46.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, July 7th. Deutsche Bank AG reduced their target price on shares of MetLife from $47.00 to $44.00 and set a “hold” rating for the company in a research note on Thursday, July 7th. Evercore ISI began coverage on shares of MetLife in a research note on Wednesday, July 6th. They set a “buy” rating and a $52.00 target price for the company. Finally, Argus reissued a “buy” rating on shares of MetLife in a research note on Monday, June 6th. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $52.45.
In related news, EVP Maria R. Morris sold 2,000 shares of MetLife stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $42.96, for a total value of $85,920.00. Following the sale, the executive vice president now directly owns 109,273 shares in the company, valued at approximately $4,694,368.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.27% of the stock is owned by corporate 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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