MetLife, Inc. (MET) Holdings Reduced by California Public Employees Retirement System
California Public Employees Retirement System reduced its holdings in MetLife, Inc. (NYSE:MET) by 2.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,397,235 shares of the financial services provider’s stock after selling 62,200 shares during the period. California Public Employees Retirement System owned approximately 0.23% of MetLife worth $131,704,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. First Personal Financial Services increased its position in MetLife by 11.5% in the 1st quarter. First Personal Financial Services now owns 2,588 shares of the financial services provider’s stock worth $137,000 after buying an additional 266 shares during the period. Westside Investment Management Inc. increased its position in MetLife by 583.8% in the 1st quarter. Westside Investment Management Inc. now owns 2,694 shares of the financial services provider’s stock worth $140,000 after buying an additional 2,300 shares during the period. Parallel Advisors LLC increased its position in MetLife by 50.7% in the 1st quarter. Parallel Advisors LLC now owns 2,748 shares of the financial services provider’s stock worth $143,000 after buying an additional 924 shares during the period. First Mercantile Trust Co. increased its position in MetLife by 3.4% in the 2nd quarter. First Mercantile Trust Co. now owns 2,926 shares of the financial services provider’s stock worth $161,000 after buying an additional 97 shares during the period. Finally, CI Investments Inc. bought a new position in MetLife in the 1st quarter worth approximately $158,000. 74.27% of the stock is currently owned by institutional investors.
Shares of MetLife, Inc. (NYSE MET) opened at 51.95 on Friday. MetLife, Inc. has a 52 week low of $38.17 and a 52 week high of $51.97. The firm has a market cap of $55.22 billion, a price-to-earnings ratio of 611.18 and a beta of 1.44. The company has a 50-day moving average price of $47.80 and a 200 day moving average price of $47.30.
MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.02. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The firm had revenue of $17.39 billion for the quarter, compared to analyst estimates of $17.11 billion. During the same quarter last year, the company earned $0.83 EPS. The company’s revenue was up 2.5% on a year-over-year basis. Analysts expect that MetLife, Inc. will post $4.82 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th were paid a dividend of $0.40 per share. 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 presently 1,777.98%.
A number of research firms have recently issued reports on MET. TheStreet cut MetLife from a “b-” rating to a “c+” rating in a research report on Monday, August 21st. ValuEngine upgraded MetLife from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. BidaskClub cut MetLife from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Wells Fargo & Company restated an “outperform” rating and set a $63.00 price objective (up from $61.00) on shares of MetLife in a research report on Wednesday, July 12th. Finally, UBS AG restated a “neutral” rating and set a $49.00 price objective (down from $57.00) on shares of MetLife in a research report on Friday, September 1st. Two 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 assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $57.95.
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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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