Jarislowsky Fraser Ltd decreased its position in MetLife, Inc. (NYSE:MET) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,298,164 shares of the financial services provider’s stock after selling 61,544 shares during the period. Jarislowsky Fraser Ltd owned approximately 0.21% of MetLife worth $126,261,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. 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 during the period. Vanguard Group Inc. increased its position in shares of 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 shares of 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 shares of 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 shares of 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. 75.61% of the stock is owned by institutional investors and hedge funds.
Shares of MetLife, Inc. (NYSE MET) traded up 0.15% during midday trading on Friday, reaching $47.02. The company’s stock had a trading volume of 7,662,137 shares. The stock has a market capitalization of $49.98 billion, a PE ratio of 553.18 and a beta of 1.46. MetLife, Inc. has a 12 month low of $40.08 and a 12 month high of $58.09. The stock’s 50 day moving average is $48.77 and its 200 day moving average is $51.47.
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 Thomson Reuters’ consensus estimate of $1.28 by $0.02. The firm 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 firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 earnings per share. On average, analysts forecast that MetLife, Inc. will post $4.88 EPS for the current fiscal year.
The firm 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 is Thursday, August 3rd. This represents a $1.60 annualized dividend and a yield of 3.40%. MetLife’s dividend payout ratio (DPR) is 1,777.98%.
A number of equities analysts have recently issued reports on MET shares. TheStreet downgraded MetLife from a “b-” rating to a “c” rating in a research note on Tuesday, May 16th. Royal Bank Of Canada restated a “buy” rating and issued a $62.00 price target on shares of MetLife in a report on Wednesday, July 12th. Wells Fargo & Company restated 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 lowered their price target on MetLife from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus 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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