MetLife, Inc. (MET) Shares Sold by Meridian Wealth Management LLC
Meridian Wealth Management LLC cut its stake in MetLife, Inc. (NYSE:MET) by 26.0% during the second quarter, Holdings Channel reports. The institutional investor owned 52,141 shares of the financial services provider’s stock after selling 18,285 shares during the period. MetLife accounts for 1.8% of Meridian Wealth Management LLC’s portfolio, making the stock its 14th largest position. Meridian Wealth Management LLC’s holdings in MetLife were worth $2,865,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC bought a new stake in MetLife during the first quarter valued at about $107,000. First Personal Financial Services raised its stake in MetLife by 11.5% in the first quarter. First Personal Financial Services now owns 2,588 shares of the financial services provider’s stock valued at $137,000 after buying an additional 266 shares in the last quarter. Westside Investment Management Inc. raised its stake in MetLife by 583.8% in the first quarter. Westside Investment Management Inc. now owns 2,694 shares of the financial services provider’s stock valued at $140,000 after buying an additional 2,300 shares in the last quarter. Parallel Advisors LLC raised its stake in MetLife by 50.7% in the first quarter. Parallel Advisors LLC now owns 2,748 shares of the financial services provider’s stock valued at $143,000 after buying an additional 924 shares in the last quarter. Finally, First Mercantile Trust Co. bought a new stake in MetLife during the first quarter valued at about $149,000. Institutional investors own 75.61% of the company’s stock.
Shares of MetLife, Inc. (MET) traded up 0.50% during trading on Wednesday, reaching $48.02. 3,054,244 shares of the company traded hands. MetLife, Inc. has a 12 month low of $40.07 and a 12 month high of $58.09. The stock has a market capitalization of $51.04 billion, a PE ratio of 564.94 and a beta of 1.46. The company has a 50-day moving average of $49.19 and a 200-day moving average of $51.59.
MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, topping the Thomson Reuters’ 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 business had revenue of $17.39 billion during the quarter, compared to analysts’ expectations of $17.11 billion. During the same quarter in the prior year, the business posted $0.83 earnings per share. MetLife’s revenue was up 2.5% compared to the same quarter last year. Analysts forecast that MetLife, Inc. will post $4.88 earnings per share for the current fiscal year.
The company also recently disclosed 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 yield of 3.35%. MetLife’s dividend payout ratio is 1,777.98%.
Several analysts have issued reports on the stock. BidaskClub upgraded shares of MetLife from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Zacks Investment Research downgraded shares of MetLife from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Wells Fargo & Company reaffirmed a “buy” rating on shares of MetLife in a report on Saturday, July 1st. ValuEngine raised shares of MetLife from a “buy” rating to a “strong-buy” rating in a report on Friday, August 11th. Finally, TheStreet raised shares of MetLife from a “c” rating to a “b-” rating in a report on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. MetLife currently has a consensus rating of “Hold” and an average 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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