MetLife, Inc. (MET) is Lodestar Investment Counsel LLC IL’s 10th Largest Position
Lodestar Investment Counsel LLC IL reduced its position in shares of MetLife, Inc. (NYSE:MET) by 1.5% during the second quarter, Holdings Channel reports. The firm owned 370,025 shares of the financial services provider’s stock after selling 5,740 shares during the period. MetLife comprises 2.6% of Lodestar Investment Counsel LLC IL’s holdings, making the stock its 10th largest position. Lodestar Investment Counsel LLC IL’s holdings in MetLife were worth $20,329,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of MET. BlackRock Inc. raised its position 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 worth $3,616,895,000 after buying an additional 66,475,603 shares during the period. Vanguard Group Inc. raised its position 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 worth $3,452,559,000 after buying an additional 1,885,246 shares during the period. Renaissance Technologies LLC acquired a new position in MetLife during the first quarter worth $82,954,000. APG Asset Management N.V. raised its position 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 worth $206,118,000 after buying an additional 1,365,018 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in MetLife by 115.5% in the first quarter. Canada Pension Plan Investment Board now owns 2,367,139 shares of the financial services provider’s stock worth $125,032,000 after buying an additional 1,268,600 shares during the period. 74.83% of the stock is owned by hedge funds and other institutional investors.
Shares of MetLife, Inc. (MET) traded up 0.15% during mid-day trading on Friday, hitting $46.81. 6,437,764 shares of the stock were exchanged. The stock has a market cap of $49.75 billion, a price-to-earnings ratio of 550.71 and a beta of 1.46. The company has a 50-day moving average price of $48.80 and a 200-day moving average price of $47.31. MetLife, Inc. has a 12 month low of $35.64 and a 12 month high of $51.77.
MetLife (NYSE:MET) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.02. The business had revenue of $17.39 billion during the quarter, compared to the consensus estimate of $17.11 billion. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the company earned $0.83 EPS. Equities analysts expect that MetLife, Inc. will post $4.91 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 7th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Thursday, August 3rd. MetLife’s dividend payout ratio is presently 1,777.98%.
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A number of research analysts recently weighed in on MET shares. TheStreet lowered shares of MetLife from a “b-” rating to a “c” rating in a report on Tuesday, May 16th. ValuEngine raised shares of MetLife from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Citigroup Inc. set a $51.00 target price on shares of MetLife and gave the company a “sell” rating in a report on Friday, July 7th. BidaskClub raised shares of MetLife from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Finally, Wells Fargo & Company reissued a “buy” rating on shares of MetLife in a report on Thursday, May 4th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $59.17.
MetLife Company Profile
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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