Private Wealth Partners LLC decreased its position in shares of MetLife Inc. (NYSE:MET) by 14.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 96,140 shares of the company’s stock after selling 15,860 shares during the period. Private Wealth Partners LLC’s holdings in MetLife were worth $3,829,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Deprince Race & Zollo Inc. increased its position in MetLife by 6.7% in the second quarter. Deprince Race & Zollo Inc. now owns 722,124 shares of the company’s stock valued at $28,762,000 after buying an additional 45,507 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in MetLife during the second quarter valued at $110,000. Markston International LLC increased its position in MetLife by 3.5% in the second quarter. Markston International LLC now owns 163,701 shares of the company’s stock valued at $6,520,000 after buying an additional 5,562 shares during the last quarter. First New York Securities LLC NY acquired a new position in MetLife during the second quarter valued at $119,000. Finally, First Midwest Bank Trust Division increased its position in MetLife by 4.9% in the second quarter. First Midwest Bank Trust Division now owns 31,103 shares of the company’s stock valued at $1,239,000 after buying an additional 1,440 shares during the last quarter. Institutional investors own 74.80% of the company’s stock.
Shares of MetLife Inc. (NYSE:MET) traded down 0.14% during midday trading on Monday, hitting $44.37. 4,790,195 shares of the stock were exchanged. MetLife Inc. has a 52-week low of $35.00 and a 52-week high of $52.45. The firm’s 50 day moving average price is $42.77 and its 200-day moving average price is $43.03. The stock has a market cap of $48.76 billion, a P/E ratio of 11.66 and a beta of 1.84.
MetLife (NYSE:MET) last issued its earnings results 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 return on equity of 6.18% and a net margin of 6.49%. The business earned $17 billion during the quarter, compared to analysts’ expectations of $17.35 billion. During the same period last year, the firm posted $1.56 EPS. MetLife’s quarterly revenue was down 2.3% compared to the same quarter last year. On average, equities research analysts expect that MetLife Inc. will post $4.64 earnings per share for the current fiscal year.
The firm also recently announced 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 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Thursday, August 4th. MetLife’s dividend payout ratio (DPR) is 42.11%.
Several research analysts have weighed in on MET shares. Argus restated a “buy” rating on shares of MetLife in a report on Monday, June 6th. Zacks Investment Research downgraded shares of MetLife from a “hold” rating to a “sell” rating in a report on Monday, June 13th. Sandler O’Neill upgraded shares of MetLife from a “hold” rating to a “buy” rating in a report on Monday, June 27th. JPMorgan Chase & Co. restated a “buy” rating and set a $51.00 price objective on shares of MetLife in a report on Wednesday, July 6th. Finally, Evercore ISI started coverage on shares of MetLife in a report on Wednesday, July 6th. They set a “buy” rating and a $52.00 price objective on the stock. Seven analysts have rated the stock with a hold rating, twelve have assigned 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 target price of $52.45.
In other MetLife news, EVP Maria R. Morris sold 2,000 shares of the business’s 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 completion of the transaction, the executive vice president now owns 109,273 shares of the company’s stock, valued at approximately $4,694,368.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.27% of the stock is 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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