Private Trust Co. NA Has $243,000 Stake in MetLife, Inc. (MET)
Private Trust Co. NA raised its stake in MetLife, Inc. (NYSE:MET) by 15.5% during the second quarter, Holdings Channel reports. The fund owned 4,432 shares of the financial services provider’s stock after buying an additional 596 shares during the period. Private Trust Co. NA’s holdings in MetLife were worth $243,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Signature Estate & Investment Advisors LLC acquired a new position in shares of MetLife during the first quarter valued at $107,000. First Personal Financial Services raised its position in shares of 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 during the last quarter. Westside Investment Management Inc. raised its position in shares of 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 during the last quarter. Parallel Advisors LLC raised its position in shares of 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 during the last quarter. Finally, First Mercantile Trust Co. acquired a new position in shares of MetLife during the first quarter valued at $149,000. Institutional investors own 74.83% of the company’s stock.
Shares of MetLife, Inc. (MET) traded up 0.15% during mid-day trading on Friday, hitting $46.81. The stock had a trading volume of 6,437,764 shares. The company’s 50 day moving average price is $48.80 and its 200 day moving average price is $47.31. The stock has a market cap of $49.75 billion, a P/E ratio of 550.71 and a beta of 1.46. MetLife, Inc. has a 12-month low of $35.64 and a 12-month high of $51.77.
MetLife (NYSE:MET) last posted its quarterly earnings results 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. 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%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the business posted $0.83 EPS. Equities research analysts predict that MetLife, Inc. will post $4.91 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.60 annualized dividend and a yield of 3.42%. MetLife’s dividend payout ratio is 1,777.98%.
Several research analysts recently weighed in on the company. Wells Fargo & Company reiterated a “buy” rating on shares of MetLife in a research report on Monday, August 7th. BidaskClub upgraded MetLife from a “sell” rating to a “hold” rating in a research report on Wednesday. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $59.00 price objective on shares of MetLife in a research report on Thursday, August 3rd. Zacks Investment Research lowered MetLife from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, TheStreet upgraded MetLife from a “c” rating to a “b-” rating in a research report on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus 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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