Cullen Frost Bankers Inc. increased its position in shares of MetLife Inc. (NYSE:MET) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 70,713 shares of the company’s stock after buying an additional 70 shares during the period. Cullen Frost Bankers Inc.’s holdings in MetLife were worth $2,816,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the stock. Manchester Capital Management LLC increased its stake in MetLife by 0.3% in the second quarter. Manchester Capital Management LLC now owns 2,891 shares of the company’s stock worth $115,000 after buying an additional 9 shares in the last quarter. Independent Portfolio Consultants Inc. increased its stake in MetLife by 21.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 3,355 shares of the company’s stock worth $134,000 after buying an additional 595 shares in the last quarter. Fulton Bank N.A. bought a new stake in MetLife during the second quarter worth approximately $219,000. Windward Capital Management Co. CA increased its stake in MetLife by 5.9% in the second quarter. Windward Capital Management Co. CA now owns 5,738 shares of the company’s stock worth $229,000 after buying an additional 320 shares in the last quarter. Finally, Osborn Rohs Williams & Donohoe Ltd increased its stake in MetLife by 15.2% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 6,053 shares of the company’s stock worth $241,000 after buying an additional 800 shares in the last quarter. Institutional investors and hedge funds own 74.80% of the company’s stock.
MetLife Inc. (NYSE:MET) traded down 0.18% during mid-day trading on Friday, reaching $44.52. The company’s stock had a trading volume of 6,542,333 shares. The firm has a 50 day moving average price of $42.34 and a 200 day moving average price of $43.00. The company has a market cap of $48.92 billion, a price-to-earnings ratio of 11.70 and a beta of 1.87. MetLife Inc. has a 52-week low of $35.00 and a 52-week high of $52.45.
MetLife (NYSE:MET) last issued its earnings results on Wednesday, August 3rd. The company reported $0.83 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by $0.52. The firm 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 business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.56 earnings per share. Equities research analysts anticipate that MetLife Inc. will post $4.65 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Monday, August 8th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $1.60 annualized dividend and a dividend yield of 3.59%. MetLife’s dividend payout ratio is presently 42.11%.
MET has been the subject of a number of research analyst reports. Argus reissued a “buy” rating on shares of MetLife in a research note on Monday, June 6th. Evercore ISI initiated coverage on MetLife in a research note on Wednesday, July 6th. They issued a “buy” rating and a $52.00 target price for the company. JPMorgan Chase & Co. reissued a “buy” rating and issued a $51.00 target price on shares of MetLife in a research note on Wednesday, July 6th. Sandler O’Neill raised MetLife from a “hold” rating to a “buy” rating in a research note on Monday, June 27th. Finally, Zacks Investment Research raised MetLife from a “sell” rating to a “hold” rating in a research note on Wednesday, June 22nd. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $52.45.
In other news, EVP Maria R. Morris sold 2,000 shares of the firm’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $39.43, for a total value of $78,860.00. Following the completion of the sale, the executive vice president now directly owns 109,273 shares in the company, valued at approximately $4,308,634.39. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.27% of the stock is owned by insiders.
MetLife Company Profile
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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