Teacher Retirement System of Texas cut its stake in shares of MetLife (NYSE:MET) by 19.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 198,001 shares of the financial services provider’s stock after selling 48,793 shares during the quarter. Teacher Retirement System of Texas’ holdings in MetLife were worth $9,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Diamond Hill Capital Management Inc. lifted its holdings in MetLife by 38.5% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 10,883,295 shares of the financial services provider’s stock worth $499,434,000 after buying an additional 3,027,327 shares during the period. Prudential Financial Inc. lifted its holdings in MetLife by 66.0% in the 1st quarter. Prudential Financial Inc. now owns 2,899,754 shares of the financial services provider’s stock worth $133,069,000 after buying an additional 1,153,335 shares during the period. BlackRock Inc. lifted its holdings in MetLife by 1.5% in the 4th quarter. BlackRock Inc. now owns 73,196,079 shares of the financial services provider’s stock worth $3,700,792,000 after buying an additional 1,097,982 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in MetLife by 673.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,174,013 shares of the financial services provider’s stock worth $53,876,000 after buying an additional 1,022,270 shares during the period. Finally, Alps Advisors Inc. lifted its holdings in MetLife by 9,943.0% in the 4th quarter. Alps Advisors Inc. now owns 907,988 shares of the financial services provider’s stock worth $45,908,000 after buying an additional 898,947 shares during the period. Institutional investors own 77.36% of the company’s stock.
In related news, Director Gerald L. Hassell acquired 10,000 shares of MetLife stock in a transaction that occurred on Wednesday, May 9th. The stock was bought at an average price of $46.18 per share, with a total value of $461,800.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 0.34% of the stock is owned by company insiders.
Shares of MetLife opened at $48.46 on Wednesday, Marketbeat.com reports. MetLife has a 52-week low of $43.38 and a 52-week high of $55.91. The company has a market capitalization of $48.88 billion, a PE ratio of 10.77, a PEG ratio of 0.83 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.15 and a quick ratio of 0.15.
MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, May 2nd. The financial services provider reported $1.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.19. MetLife had a return on equity of 8.70% and a net margin of 6.48%. The company had revenue of $15.15 billion during the quarter, compared to analyst estimates of $15.52 billion. During the same quarter last year, the company earned $1.20 EPS. The firm’s revenue for the quarter was up .6% on a year-over-year basis. equities research analysts forecast that MetLife will post 5.07 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 13th. Investors of record on Monday, May 7th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Friday, May 4th. This is a positive change from MetLife’s previous quarterly dividend of $0.40. MetLife’s dividend payout ratio (DPR) is 37.33%.
Several research firms have weighed in on MET. Zacks Investment Research upgraded MetLife from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Thursday, May 10th. Wells Fargo & Co reiterated a “buy” rating on shares of MetLife in a report on Tuesday, May 8th. Deutsche Bank dropped their price objective on MetLife from $51.00 to $48.00 and set a “hold” rating for the company in a report on Friday, May 4th. ValuEngine cut MetLife from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, Credit Suisse Group started coverage on MetLife in a research report on Wednesday, April 25th. They issued an “outperform” rating and a $67.00 target price for the company. One analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $56.81.
MetLife Company Profile
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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