Commerce Bank reduced its holdings in shares of Metlife Inc (NYSE:MET) by 0.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 213,757 shares of the financial services provider’s stock after selling 839 shares during the quarter. Commerce Bank’s holdings in Metlife were worth $6,535,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of MET. Strategic Investment Advisors MI boosted its stake in shares of Metlife by 21.4% during the 4th quarter. Strategic Investment Advisors MI now owns 5,709 shares of the financial services provider’s stock worth $291,000 after acquiring an additional 1,005 shares during the period. J.W. Cole Advisors Inc. acquired a new position in Metlife in the 4th quarter valued at $278,000. First Midwest Bank Trust Division raised its holdings in Metlife by 48.1% in the 4th quarter. First Midwest Bank Trust Division now owns 8,880 shares of the financial services provider’s stock valued at $453,000 after acquiring an additional 2,883 shares in the last quarter. Advisor Partners LLC raised its holdings in Metlife by 1.2% in the 4th quarter. Advisor Partners LLC now owns 22,729 shares of the financial services provider’s stock valued at $1,178,000 after acquiring an additional 274 shares in the last quarter. Finally, Sumitomo Life Insurance Co. raised its holdings in shares of Metlife by 6.3% during the 4th quarter. Sumitomo Life Insurance Co. now owns 32,473 shares of the financial services provider’s stock worth $1,655,000 after buying an additional 1,925 shares in the last quarter. Institutional investors own 74.04% of the company’s stock.
NYSE MET opened at $33.34 on Friday. The business’s 50-day moving average price is $32.93 and its two-hundred day moving average price is $43.33. Metlife Inc has a 12 month low of $22.85 and a 12 month high of $53.28. The firm has a market capitalization of $30.40 billion, a PE ratio of 3.55 and a beta of 1.33. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.21.
Metlife (NYSE:MET) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.14. Metlife had a return on equity of 8.85% and a net margin of 12.37%. The firm had revenue of $15.54 billion for the quarter, compared to analyst estimates of $16.38 billion. During the same quarter in the previous year, the company posted $1.48 EPS. The business’s revenue was up .6% on a year-over-year basis. As a group, analysts forecast that Metlife Inc will post 5.39 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 8th will be given a dividend of $0.46 per share. This is a positive change from Metlife’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, May 7th. This represents a $1.84 annualized dividend and a dividend yield of 5.52%. Metlife’s dividend payout ratio is presently 30.11%.
A number of equities analysts have recently commented on MET shares. Wells Fargo & Co lowered their price target on Metlife from $59.00 to $44.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Royal Bank of Canada boosted their price target on Metlife from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Citigroup raised Metlife from a “sell” rating to a “neutral” rating and lowered their target price for the stock from $46.00 to $32.00 in a report on Monday, March 16th. Credit Suisse Group lowered their target price on Metlife from $60.00 to $46.00 and set an “outperform” rating for the company in a report on Monday, April 27th. Finally, Piper Sandler lowered their target price on Metlife from $38.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, April 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $42.25.
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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