MetLife, Inc. (MET) Shares Bought by Perkins Coie Trust Co
Perkins Coie Trust Co boosted its position in MetLife, Inc. (NYSE:MET) by 2.0% during the second quarter, Holdings Channel reports. The fund owned 34,119 shares of the financial services provider’s stock after buying an additional 676 shares during the period. Perkins Coie Trust Co’s holdings in MetLife were worth $1,874,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of 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. increased its stake in shares of 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. State Street Corp increased its stake in shares of MetLife by 1.4% in the first quarter. State Street Corp now owns 49,020,964 shares of the financial services provider’s stock valued at $2,589,297,000 after buying an additional 680,903 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of MetLife by 6.9% in the first quarter. Geode Capital Management LLC now owns 10,265,096 shares of the financial services provider’s stock valued at $541,427,000 after buying an additional 664,918 shares in the last quarter. Finally, Morgan Stanley increased its stake in shares of MetLife by 5.4% in the first quarter. Morgan Stanley now owns 7,946,397 shares of the financial services provider’s stock valued at $419,728,000 after buying an additional 404,104 shares in the last quarter. Institutional investors and hedge funds own 74.83% of the company’s stock.
Shares of MetLife, Inc. (NYSE:MET) traded up 0.13% during trading on Friday, hitting $46.80. 2,521,439 shares of the stock traded hands. The company has a market cap of $49.74 billion, a PE ratio of 550.59 and a beta of 1.46. MetLife, Inc. has a one year low of $35.21 and a one year high of $51.77. The firm has a 50 day moving average price of $48.79 and a 200-day moving average price of $47.32.
MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.02. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The company had revenue of $17.39 billion for the quarter, compared to the consensus estimate of $17.11 billion. During the same quarter in the previous year, the firm posted $0.83 EPS. The business’s revenue was up 2.5% compared to the same quarter last year. Analysts anticipate that MetLife, Inc. will post $4.91 earnings per share for the current fiscal year.
The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.42%. MetLife’s payout ratio is 1,777.98%.
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Several analysts recently issued reports on the company. Wells Fargo & Company reiterated a “buy” rating on shares of MetLife in a report on Monday. BidaskClub upgraded MetLife from a “sell” rating to a “hold” rating in a report on Wednesday. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $59.00 price target on shares of MetLife in a report on Thursday, August 3rd. Zacks Investment Research downgraded MetLife from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, TheStreet upgraded MetLife from a “c” rating to a “b-” rating in a report on Monday, July 24th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock currently 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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