Fjarde AP Fonden Fourth Swedish National Pension Fund cut its position in shares of MetLife, Inc. (NYSE:MET) by 6.1% during the first quarter, Holdings Channel reports. The firm owned 181,082 shares of the financial services provider’s stock after selling 11,783 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in MetLife were worth $9,565,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the stock. Buckingham Capital Management Inc. increased its stake in MetLife by 0.8% in the first quarter. Buckingham Capital Management Inc. now owns 28,010 shares of the financial services provider’s stock worth $1,479,000 after buying an additional 222 shares during the period. Highstreet Asset Management Inc. increased its stake in MetLife by 81.5% in the first quarter. Highstreet Asset Management Inc. now owns 35,930 shares of the financial services provider’s stock worth $1,898,000 after buying an additional 16,138 shares during the period. Nordea Investment Management AB increased its stake in MetLife by 0.4% in the first quarter. Nordea Investment Management AB now owns 1,440,102 shares of the financial services provider’s stock worth $76,066,000 after buying an additional 6,386 shares during the period. Covenant Multifamily Offices LLC acquired a new stake in MetLife during the first quarter worth $3,022,000. Finally, Pacer Advisors Inc. increased its stake in MetLife by 3.3% in the first quarter. Pacer Advisors Inc. now owns 19,728 shares of the financial services provider’s stock worth $1,042,000 after buying an additional 623 shares during the period. Hedge funds and other institutional investors own 74.53% of the company’s stock.
MetLife, Inc. (NYSE:MET) opened at 52.98 on Wednesday. The firm’s market capitalization is $57.00 billion. MetLife, Inc. has a 12-month low of $36.17 and a 12-month high of $58.09. The stock has a 50 day moving average price of $51.76 and a 200-day moving average price of $53.09.
MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.19. The firm had revenue of $16.27 billion during the quarter, compared to analyst estimates of $17.02 billion. MetLife had a positive return on equity of 7.57% and a negative net margin of 0.95%. The firm’s quarterly revenue was down 11.7% on a year-over-year basis. During the same period last year, the company posted $1.20 EPS. On average, equities research analysts forecast that MetLife, Inc. will post $5.37 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 13th. Shareholders of record on Monday, May 8th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Thursday, May 4th. MetLife’s payout ratio is currently -258.06%.
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A number of research firms recently weighed in on MET. ValuEngine upgraded MetLife from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. BidaskClub upgraded MetLife from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. FBR & Co upgraded MetLife from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $54.00 to $58.00 in a research note on Thursday, May 25th. TheStreet downgraded MetLife from a “b-” rating to a “c” rating in a research note on Tuesday, May 16th. Finally, Zacks Investment Research upgraded MetLife from a “sell” rating to a “hold” rating in a research note on Friday, May 5th. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. MetLife has a consensus rating of “Buy” and an average target price of $55.94.
MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings; Brighthouse Financial, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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