First Mercantile Trust Co. Has $161,000 Position in MetLife, Inc. (MET)
First Mercantile Trust Co. increased its stake in shares of MetLife, Inc. (NYSE:MET) by 3.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,926 shares of the financial services provider’s stock after buying an additional 97 shares during the period. First Mercantile Trust Co.’s holdings in MetLife were worth $161,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in MET. BlackRock Inc. raised its stake in MetLife by 3,323.3% in the first quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock valued at $3,616,895,000 after buying an additional 66,475,603 shares in the last quarter. Vanguard Group Inc. raised its stake in MetLife by 3.0% in the first quarter. Vanguard Group Inc. now owns 65,364,620 shares of the financial services provider’s stock valued at $3,452,559,000 after buying an additional 1,885,246 shares in the last quarter. TD Asset Management Inc. raised its stake in MetLife by 47.7% in the second quarter. TD Asset Management Inc. now owns 5,201,238 shares of the financial services provider’s stock valued at $285,756,000 after buying an additional 1,679,740 shares in the last quarter. Renaissance Technologies LLC bought a new stake in MetLife during the first quarter valued at $82,954,000. Finally, APG Asset Management N.V. raised its stake in MetLife by 53.8% in the first quarter. APG Asset Management N.V. now owns 3,902,274 shares of the financial services provider’s stock valued at $206,118,000 after buying an additional 1,365,018 shares in the last quarter. Institutional investors own 74.23% of the company’s stock.
MetLife, Inc. (MET) opened at 47.06 on Thursday. The firm has a 50-day moving average price of $48.46 and a 200-day moving average price of $47.25. MetLife, Inc. has a 12 month low of $37.17 and a 12 month high of $52.07. The company has a market capitalization of $50.02 billion, a price-to-earnings ratio of 553.65 and a beta of 1.46.
MetLife (NYSE:MET) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.02. The company had revenue of $17.39 billion for the quarter, compared to analysts’ expectations of $17.11 billion. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.83 EPS. On average, equities analysts anticipate that MetLife, Inc. will post $4.78 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Monday, August 7th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Thursday, August 3rd. MetLife’s payout ratio is presently 1,777.98%.
MET has been the topic of several analyst reports. TheStreet lowered MetLife from a “b-” rating to a “c” rating in a research note on Tuesday, May 16th. ValuEngine upgraded MetLife from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Citigroup Inc. set a $51.00 price objective on MetLife and gave the company a “sell” rating in a research note on Friday, July 7th. BidaskClub upgraded MetLife from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of MetLife in a research note on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $58.95.
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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