Ronna Sue Cohen boosted its position in MetLife, Inc. (NYSE:MET) by 1.4% during the second quarter, Holdings Channel reports. The firm owned 63,937 shares of the financial services provider’s stock after buying an additional 904 shares during the period. MetLife makes up 2.6% of Ronna Sue Cohen’s investment portfolio, making the stock its 12th largest position. Ronna Sue Cohen’s holdings in MetLife were worth $3,513,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in MET. Signature Estate & Investment Advisors LLC purchased a new position in shares of MetLife during the first quarter worth $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 worth $137,000 after buying an additional 266 shares during the period. 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 worth $140,000 after buying an additional 2,300 shares during the period. 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 worth $143,000 after buying an additional 924 shares during the period. Finally, First Mercantile Trust Co. purchased a new position in shares of MetLife during the first quarter worth $149,000. Institutional investors own 74.51% of the company’s stock.
MetLife, Inc. (NYSE:MET) opened at 54.95 on Thursday. The company’s market cap is $59.12 billion. The stock has a 50 day moving average price of $53.68 and a 200 day moving average price of $53.01. MetLife, Inc. has a 52 week low of $38.87 and a 52 week high of $58.09.
MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.19. The firm had revenue of $16.27 billion for the quarter, compared to analysts’ expectations of $17.02 billion. MetLife had a negative net margin of 0.95% and a positive return on equity of 7.57%. The business’s quarterly revenue was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 earnings per share. On average, equities analysts forecast that MetLife, Inc. will post $5.38 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 7th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.91%. MetLife’s payout ratio is currently -258.06%.
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A number of brokerages have recently weighed in on MET. Royal Bank Of Canada reiterated a “buy” rating and set a $62.00 target price on shares of MetLife in a research note on Wednesday, July 12th. Wells Fargo & Company reiterated a “buy” rating on shares of MetLife in a research note on Saturday, July 1st. BidaskClub upgraded MetLife from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Citigroup Inc. set a $51.00 price objective on MetLife and gave the stock a “sell” rating in a research note on Friday, July 7th. Finally, Zacks Investment Research lowered MetLife from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $57.03.
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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