MetLife, Inc. (MET) Shares Bought by State of Alaska Department of Revenue
State of Alaska Department of Revenue boosted its stake in shares of MetLife, Inc. (NYSE:MET) by 10.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,675 shares of the financial services provider’s stock after buying an additional 460 shares during the period. State of Alaska Department of Revenue’s holdings in MetLife were worth $256,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Atria Investments LLC raised its position in MetLife by 2.6% in the first quarter. Atria Investments LLC now owns 18,914 shares of the financial services provider’s stock valued at $999,000 after buying an additional 488 shares in the last quarter. Teacher Retirement System of Texas raised its position in MetLife by 7.2% in the first quarter. Teacher Retirement System of Texas now owns 822,785 shares of the financial services provider’s stock valued at $43,460,000 after buying an additional 55,508 shares during the period. Tompkins Financial Corp raised its position in MetLife by 40.8% in the first quarter. Tompkins Financial Corp now owns 7,789 shares of the financial services provider’s stock valued at $342,000 after buying an additional 2,258 shares during the period. Aberdeen Asset Management PLC UK raised its position in MetLife by 1.3% in the first quarter. Aberdeen Asset Management PLC UK now owns 469,645 shares of the financial services provider’s stock valued at $24,807,000 after buying an additional 6,188 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in MetLife by 4.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 393,208 shares of the financial services provider’s stock valued at $20,769,000 after buying an additional 15,716 shares during the period. 75.61% of the stock is currently owned by institutional investors and hedge funds.
Shares of MetLife, Inc. (MET) traded up 0.90% on Wednesday, reaching $48.21. The company had a trading volume of 2,268,270 shares. The company’s 50-day moving average is $49.19 and its 200 day moving average is $51.59. The firm has a market capitalization of $51.24 billion, a PE ratio of 567.18 and a beta of 1.46. MetLife, Inc. has a 12 month low of $40.07 and a 12 month high of $58.09.
MetLife (NYSE:MET) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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%. MetLife’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the company earned $0.83 EPS. Equities analysts forecast that MetLife, Inc. will post $4.88 earnings per share for the current year.
The business 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 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 3.35%. MetLife’s dividend payout ratio (DPR) is presently 1,777.98%.
Several equities analysts recently commented on MET shares. ValuEngine raised MetLife from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. BidaskClub lowered MetLife from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Wells Fargo & Company reissued an “outperform” rating and set a $63.00 price target (up from $61.00) on shares of MetLife in a research report on Wednesday, July 12th. FBR & Co raised MetLife from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $54.00 to $58.00 in a research report on Thursday, May 25th. Finally, Zacks Investment Research raised MetLife from a “sell” rating to a “hold” rating in a research report on Friday, May 5th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price 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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