MetLife, Inc. (MET) Shares Sold by Assetmark Inc.
Assetmark Inc. reduced its stake in MetLife, Inc. (NYSE:MET) by 15.0% during the first quarter, Holdings Channel reports. The institutional investor owned 5,063 shares of the financial services provider’s stock after selling 895 shares during the period. Assetmark Inc.’s holdings in MetLife were worth $267,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of MET. Argent Trust Co raised its stake in shares of MetLife by 45.9% in the first quarter. Argent Trust Co now owns 6,999 shares of the financial services provider’s stock valued at $370,000 after buying an additional 2,203 shares in the last quarter. Peoples Bank OH raised its stake in shares of MetLife by 0.5% in the first quarter. Peoples Bank OH now owns 10,529 shares of the financial services provider’s stock valued at $556,000 after buying an additional 50 shares in the last quarter. AGF Investments Inc. raised its stake in shares of MetLife by 13.6% in the first quarter. AGF Investments Inc. now owns 1,190,954 shares of the financial services provider’s stock valued at $62,860,000 after buying an additional 143,018 shares in the last quarter. AGF Investments America Inc. raised its stake in shares of MetLife by 1.8% in the first quarter. AGF Investments America Inc. now owns 35,706 shares of the financial services provider’s stock valued at $1,886,000 after buying an additional 622 shares in the last quarter. Finally, Norinchukin Bank The raised its stake in shares of MetLife by 12.0% in the first quarter. Norinchukin Bank The now owns 38,213 shares of the financial services provider’s stock valued at $2,018,000 after buying an additional 4,097 shares in the last quarter. 74.53% of the stock is owned by institutional investors and hedge funds.
Shares of MetLife, Inc. (NYSE MET) opened at 53.52 on Friday. The company has a 50-day moving average price of $51.66 and a 200-day moving average price of $53.14. The stock’s market cap is $57.58 billion. MetLife, Inc. has a 52 week low of $36.17 and a 52 week high of $58.09.
MetLife (NYSE:MET) last released its earnings results on Wednesday, May 3rd. The financial services provider reported $1.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.19. MetLife had a positive return on equity of 7.57% and a negative net margin of 0.95%. The firm had revenue of $16.27 billion for the quarter, compared to the consensus estimate of $17.02 billion. During the same quarter in the previous year, the company posted $1.20 EPS. The company’s revenue for the quarter was down 11.7% compared to the same quarter last year. Equities analysts anticipate that MetLife, Inc. will post $5.36 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 13th. Investors of record on Monday, May 8th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date was Thursday, May 4th. MetLife’s payout ratio is currently -258.06%.
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Several brokerages have issued reports on MET. BidaskClub raised MetLife from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. FBR & Co raised MetLife from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $54.00 to $58.00 in a research note on Thursday, May 25th. TheStreet lowered MetLife from a “b-” rating to a “c” rating in a research note on Tuesday, May 16th. Zacks Investment Research raised MetLife from a “sell” rating to a “hold” rating in a research note on Friday, May 5th. Finally, Wells Fargo & Company reissued a “buy” rating on shares of MetLife in a research note on Thursday, May 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $55.94.
In other MetLife news, Director James M. Kilts acquired 17,205 shares of the company’s stock in a transaction that occurred on Wednesday, March 22nd. The stock was bought at an average price of $51.13 per share, for a total transaction of $879,691.65. Following the acquisition, the director now directly owns 59,443 shares in the company, valued at $3,039,320.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is owned by insiders.
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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