Cutler Capital Management LLC boosted its position in MetLife Inc. (NYSE:MET) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 169,505 shares of the company’s stock after buying an additional 87 shares during the period. MetLife comprises approximately 1.9% of Cutler Capital Management LLC’s holdings, making the stock its 13th largest position. Cutler Capital Management LLC’s holdings in MetLife were worth $6,751,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can purchased a new position in shares of MetLife during the second quarter worth approximately $114,322,000. Dodge & Cox increased its position in shares of 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 in the last quarter. NN Investment Partners Holdings N.V. purchased a new position in shares of MetLife during the first quarter worth approximately $118,571,000. American Century Companies Inc. increased its position in shares of MetLife by 20.6% in the second quarter. American Century Companies Inc. now owns 8,839,441 shares of the company’s stock worth $352,075,000 after buying an additional 1,507,242 shares in the last quarter. Finally, Svenska Handelsbanken AB publ increased its position in shares of MetLife by 143.7% in the second quarter. Svenska Handelsbanken AB publ now owns 2,474,496 shares of the company’s stock worth $98,559,000 after buying an additional 1,459,096 shares in the last quarter. Institutional investors and hedge funds own 74.80% of the company’s stock.
MetLife Inc. (NYSE:MET) traded down 2.52% during midday trading on Monday, reaching $43.40. The company’s stock had a trading volume of 7,161,703 shares. The stock has a market cap of $47.69 billion, a P/E ratio of 11.41 and a beta of 1.87. MetLife Inc. has a 12-month low of $35.00 and a 12-month high of $52.45. The stock’s 50 day moving average is $42.34 and its 200 day moving average is $43.00.
MetLife (NYSE:MET) last announced its earnings results on Wednesday, August 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by $0.52. MetLife had a net margin of 6.49% and a return on equity of 6.18%. The business had revenue of $17 billion for the quarter, compared to analysts’ expectations of $17.35 billion. During the same quarter last year, the business earned $1.56 EPS. The company’s quarterly revenue was down 2.3% on a year-over-year basis. Analysts anticipate that MetLife Inc. will post $4.65 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Monday, August 8th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, August 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.69%. MetLife’s dividend payout ratio (DPR) is 42.11%.
MET has been the subject of a number of recent research reports. Wells Fargo & Co. reiterated an “outperform” rating on shares of MetLife in a report on Friday. Sandler O’Neill upgraded shares of MetLife from a “hold” rating to a “buy” rating in a report on Monday, June 27th. TheStreet downgraded shares of MetLife from a “buy” rating to a “hold” rating in a report on Wednesday, August 24th. Argus reiterated a “buy” rating and issued a $54.00 target price on shares of MetLife in a report on Wednesday, September 7th. Finally, FBR & Co boosted their target price on shares of MetLife from $51.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, August 29th. Seven 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 stock. MetLife presently has a consensus rating of “Buy” and an average price target of $52.45.
In other news, EVP Maria R. Morris sold 2,000 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $39.43, for a total transaction of $78,860.00. Following the transaction, the executive vice president now owns 109,273 shares in the company, valued at approximately $4,308,634.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.27% of the company’s stock.
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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