First Trust Advisors LP Sells 263,865 Shares of MetLife, Inc. (MET)
First Trust Advisors LP lowered its stake in shares of MetLife, Inc. (NYSE:MET) by 38.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 429,088 shares of the financial services provider’s stock after selling 263,865 shares during the period. First Trust Advisors LP’s holdings in MetLife were worth $23,574,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. State of Alaska Department of Revenue acquired a new position in MetLife during the first quarter valued at $222,000. Waldron LP increased its position in MetLife by 5.1% in the first quarter. Waldron LP now owns 6,492 shares of the financial services provider’s stock valued at $342,000 after buying an additional 315 shares during the period. Sigma Planning Corp increased its position in MetLife by 91.5% in the first quarter. Sigma Planning Corp now owns 15,624 shares of the financial services provider’s stock valued at $825,000 after buying an additional 7,466 shares during the period. Rehmann Capital Advisory Group increased its position in MetLife by 17.9% in the first quarter. Rehmann Capital Advisory Group now owns 16,464 shares of the financial services provider’s stock valued at $870,000 after buying an additional 2,501 shares during the period. Finally, IFC Holdings Incorporated FL increased its position in MetLife by 136.7% in the first quarter. IFC Holdings Incorporated FL now owns 12,525 shares of the financial services provider’s stock valued at $661,000 after buying an additional 7,233 shares during the period. Hedge funds and other institutional investors own 74.23% of the company’s stock.
Shares of MetLife, Inc. (MET) opened at 46.73 on Wednesday. MetLife, Inc. has a 12-month low of $37.17 and a 12-month high of $52.07. The company has a 50-day moving average of $48.46 and a 200-day moving average of $47.25. The stock has a market capitalization of $49.67 billion, a P/E ratio of 549.76 and a beta of 1.46.
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 Thomson Reuters’ consensus estimate of $1.28 by $0.02. The firm 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 business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 EPS. Equities analysts expect that MetLife, Inc. will post $4.83 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.42%. The ex-dividend date is Thursday, August 3rd. MetLife’s payout ratio is 1,777.98%.
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Several equities analysts have weighed in on MET shares. Wells Fargo & Company restated a “buy” rating on shares of MetLife in a report on Thursday, May 4th. Zacks Investment Research upgraded shares of MetLife from a “sell” rating to a “hold” rating in a report on Friday, May 5th. TheStreet downgraded shares of MetLife from a “b-” rating to a “c” rating in a report on Tuesday, May 16th. FBR & Co upgraded shares of MetLife from a “market perform” rating to an “outperform” rating and raised their target price for the company from $54.00 to $58.00 in a report on Thursday, May 25th. Finally, BidaskClub upgraded shares of MetLife from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target 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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