MetLife, Inc. (MET) Shares Sold by Hartford Investment Management Co.
Hartford Investment Management Co. lowered its position in shares of MetLife, Inc. (NYSE:MET) by 6.2% during the second quarter, Holdings Channel reports. The institutional investor owned 238,875 shares of the financial services provider’s stock after selling 15,711 shares during the period. Hartford Investment Management Co.’s holdings in MetLife were worth $13,124,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in MET. BlackRock Inc. increased its position 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 worth $3,616,895,000 after buying an additional 66,475,603 shares in the last quarter. Vanguard Group Inc. increased 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. State Street Corp increased its position in MetLife by 1.4% in the first quarter. State Street Corp now owns 49,020,964 shares of the financial services provider’s stock worth $2,589,297,000 after buying an additional 680,903 shares during the period. Geode Capital Management LLC increased its position in 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 worth $541,427,000 after buying an additional 664,918 shares during the period. Finally, Morgan Stanley increased its position in MetLife by 5.4% in the first quarter. Morgan Stanley now owns 7,946,397 shares of the financial services provider’s stock worth $419,728,000 after buying an additional 404,104 shares during the period. Institutional investors own 75.61% of the company’s stock.
MetLife, Inc. (MET) traded up 0.36% during mid-day trading on Tuesday, hitting $47.75. The company had a trading volume of 2,792,674 shares. The company has a 50 day moving average of $49.32 and a 200 day moving average of $51.65. MetLife, Inc. has a 1-year low of $40.03 and a 1-year high of $58.09. The firm has a market capitalization of $50.75 billion, a PE ratio of 561.76 and a beta of 1.46.
MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.02. The company had revenue of $17.39 billion for the quarter, compared to analyst estimates of $17.11 billion. MetLife had a net margin of 0.30% and a return on equity of 8.51%. MetLife’s revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company posted $0.83 earnings per share. Analysts predict that MetLife, Inc. will post $4.88 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Monday, August 7th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.36%. The ex-dividend date is Thursday, August 3rd. MetLife’s payout ratio is 1,777.98%.
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A number of research analysts have weighed in on MET shares. TheStreet downgraded MetLife from a “b-” rating to a “c” rating in a report on Tuesday, May 16th. Royal Bank Of Canada reiterated a “buy” rating and set a $62.00 target price on shares of MetLife in a report on Wednesday, July 12th. Wells Fargo & Company reiterated a “buy” rating on shares of MetLife in a report on Thursday, May 4th. Zacks Investment Research upgraded MetLife from a “sell” rating to a “hold” rating in a report on Friday, May 5th. Finally, Argus reduced their target price on MetLife from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $59.17.
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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