Franklin Street Advisors Inc. NC decreased its stake in shares of Metlife Inc (NYSE:MET) by 96.1% during the first quarter, Holdings Channel reports. The fund owned 5,692 shares of the financial services provider’s stock after selling 141,771 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Metlife were worth $242,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Cutler Capital Management LLC lifted its holdings in shares of Metlife by 11.5% in the 4th quarter. Cutler Capital Management LLC now owns 178,103 shares of the financial services provider’s stock worth $7,313,000 after acquiring an additional 18,425 shares during the last quarter. Deprince Race & Zollo Inc. lifted its holdings in shares of Metlife by 0.3% in the 4th quarter. Deprince Race & Zollo Inc. now owns 506,580 shares of the financial services provider’s stock worth $20,800,000 after acquiring an additional 1,590 shares during the last quarter. First Mercantile Trust Co. lifted its holdings in shares of Metlife by 68.4% in the 4th quarter. First Mercantile Trust Co. now owns 1,970 shares of the financial services provider’s stock worth $81,000 after acquiring an additional 800 shares during the last quarter. Capital Investment Advisory Services LLC bought a new stake in shares of Metlife in the 4th quarter worth about $60,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Metlife by 2.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 38,336 shares of the financial services provider’s stock worth $1,574,000 after acquiring an additional 800 shares during the last quarter. 75.74% of the stock is currently owned by institutional investors and hedge funds.
Shares of MET opened at $48.51 on Friday. Metlife Inc has a 1-year low of $37.76 and a 1-year high of $50.40. The stock has a market cap of $46.02 billion, a P/E ratio of 9.00, a P/E/G ratio of 1.02 and a beta of 1.11. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.14 and a quick ratio of 0.14.
Metlife (NYSE:MET) last announced its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.18. Metlife had a net margin of 7.56% and a return on equity of 10.20%. The company had revenue of $15.45 billion during the quarter, compared to analyst estimates of $15.95 billion. During the same quarter last year, the business posted $1.36 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Research analysts forecast that Metlife Inc will post 5.61 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, May 7th were issued a $0.44 dividend. The ex-dividend date of this dividend was Monday, May 6th. This represents a $1.76 annualized dividend and a dividend yield of 3.63%. This is a positive change from Metlife’s previous quarterly dividend of $0.42. Metlife’s payout ratio is currently 32.65%.
A number of equities research analysts recently weighed in on MET shares. Wells Fargo & Co reiterated a “buy” rating and set a $55.00 price objective on shares of Metlife in a report on Tuesday, May 21st. Sandler O’Neill lowered shares of Metlife from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a report on Tuesday, March 19th. ValuEngine upgraded shares of Metlife from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Deutsche Bank lifted their price objective on shares of Metlife from $46.00 to $47.00 and gave the company a “hold” rating in a report on Friday, April 12th. Finally, UBS Group lifted their price objective on shares of Metlife from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $50.59.
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MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short- and long-term disability, individual disability, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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