Advisor Group Inc. Boosts Stake in MetLife, Inc. (MET)
Advisor Group Inc. grew its holdings in MetLife, Inc. (NYSE:MET) by 18.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 57,559 shares of the financial services provider’s stock after acquiring an additional 9,091 shares during the quarter. Advisor Group Inc.’s holdings in MetLife were worth $3,068,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in MET. Nordea Investment Management AB increased its holdings in shares of MetLife by 10.8% during the second quarter. Nordea Investment Management AB now owns 1,596,060 shares of the financial services provider’s stock worth $87,688,000 after purchasing an additional 155,958 shares during the period. Cibc World Markets Corp raised its position in shares of MetLife by 34.5% in the second quarter. Cibc World Markets Corp now owns 152,683 shares of the financial services provider’s stock valued at $8,388,000 after buying an additional 39,128 shares in the last quarter. Suntrust Banks Inc. raised its position in shares of MetLife by 3.7% in the second quarter. Suntrust Banks Inc. now owns 81,924 shares of the financial services provider’s stock valued at $4,499,000 after buying an additional 2,908 shares in the last quarter. Wealthfront Inc. raised its position in shares of MetLife by 6.1% in the second quarter. Wealthfront Inc. now owns 50,943 shares of the financial services provider’s stock valued at $2,799,000 after buying an additional 2,921 shares in the last quarter. Finally, TIAA FSB acquired a new stake in shares of MetLife in the second quarter valued at approximately $1,188,000. 74.27% of the stock is owned by institutional investors.
MetLife, Inc. (MET) opened at 51.95 on Monday. MetLife, Inc. has a 52-week low of $39.25 and a 52-week high of $52.24. The company’s 50-day moving average is $47.80 and its 200-day moving average is $47.30. The firm has a market capitalization of $55.22 billion, a PE ratio of 611.18 and a beta of 1.47.
MetLife (NYSE:MET) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.02. The business had revenue of $17.39 billion for the quarter, compared to analysts’ expectations of $17.11 billion. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.83 earnings per share. Analysts forecast that MetLife, Inc. will post $4.82 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.08%. MetLife’s dividend payout ratio (DPR) is currently 1,777.98%.
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Several brokerages recently issued reports on MET. BidaskClub upgraded MetLife from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. ValuEngine upgraded MetLife from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Wells Fargo & Company restated a “buy” rating on shares of MetLife in a research note on Saturday, July 1st. Citigroup Inc. set a $51.00 price objective on MetLife and gave the stock a “sell” rating in a research note on Friday, July 7th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $62.00 price objective on shares of MetLife in a report on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $57.95.
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, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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