State of Michigan Retirement System raised its position in Metlife Inc (NYSE:MET) by 9.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 196,975 shares of the financial services provider’s stock after buying an additional 17,790 shares during the quarter. State of Michigan Retirement System’s holdings in Metlife were worth $7,194,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in MET. Pearl River Capital LLC lifted its stake in shares of Metlife by 57.2% in the 4th quarter. Pearl River Capital LLC now owns 4,405 shares of the financial services provider’s stock worth $225,000 after acquiring an additional 1,603 shares during the period. State of Alaska Department of Revenue raised its holdings in Metlife by 5.8% during the first quarter. State of Alaska Department of Revenue now owns 169,993 shares of the financial services provider’s stock worth $5,196,000 after purchasing an additional 9,312 shares in the last quarter. Private Trust Co. NA lifted its position in Metlife by 11.8% in the first quarter. Private Trust Co. NA now owns 6,867 shares of the financial services provider’s stock valued at $209,000 after purchasing an additional 727 shares during the period. IBM Retirement Fund lifted its position in Metlife by 62.4% in the first quarter. IBM Retirement Fund now owns 18,452 shares of the financial services provider’s stock valued at $564,000 after purchasing an additional 7,088 shares during the period. Finally, CHICAGO TRUST Co NA boosted its holdings in Metlife by 11.8% in the 1st quarter. CHICAGO TRUST Co NA now owns 40,207 shares of the financial services provider’s stock valued at $1,229,000 after purchasing an additional 4,228 shares in the last quarter. Institutional investors own 74.67% of the company’s stock.
Shares of MET stock opened at $37.85 on Friday. The stock has a market cap of $34.35 billion, a P/E ratio of 4.03, a P/E/G ratio of 4.42 and a beta of 1.34. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.21. Metlife Inc has a fifty-two week low of $22.85 and a fifty-two week high of $53.28. The business has a fifty day simple moving average of $37.09 and a 200-day simple moving average of $38.85.
Metlife (NYSE:MET) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.58 EPS for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.14. The firm had revenue of $15.54 billion for the quarter, compared to analysts’ expectations of $16.38 billion. Metlife had a net margin of 12.37% and a return on equity of 8.85%. The firm’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company earned $1.48 EPS. On average, sell-side analysts anticipate that Metlife Inc will post 5.49 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Tuesday, August 4th will be paid a dividend of $0.46 per share. The ex-dividend date is Monday, August 3rd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.86%. Metlife’s dividend payout ratio (DPR) is 30.11%.
Several analysts have recently commented on MET shares. Bank of America initiated coverage on Metlife in a report on Monday, June 1st. They issued a “buy” rating for the company. Morgan Stanley increased their price objective on Metlife from $40.00 to $44.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. ValuEngine lowered shares of Metlife from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 23rd. Royal Bank of Canada upped their price target on shares of Metlife from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Finally, Credit Suisse Group reduced their price objective on shares of Metlife from $60.00 to $46.00 and set an “outperform” rating for the company in a research note on Monday, April 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. Metlife has an average rating of “Hold” and an average target price of $41.88.
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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