Vanguard Group Inc. Buys 797,115 Shares of Metlife Inc (NYSE:MET)

Vanguard Group Inc. grew its stake in Metlife Inc (NYSE:MET) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,442,713 shares of the financial services provider’s stock after purchasing an additional 797,115 shares during the quarter. Vanguard Group Inc. owned approximately 0.07% of Metlife worth $3,349,879,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of MET. Cornerstone Advisors Inc. raised its position in shares of Metlife by 165.5% in the first quarter. Cornerstone Advisors Inc. now owns 823 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 513 shares during the period. Victory Capital Management Inc. increased its position in Metlife by 2,040.5% during the first quarter. Victory Capital Management Inc. now owns 314,035 shares of the financial services provider’s stock worth $13,368,000 after acquiring an additional 299,364 shares during the period. Cetera Advisors LLC bought a new position in Metlife during the first quarter worth about $213,000. First Mercantile Trust Co. increased its position in Metlife by 16.2% during the first quarter. First Mercantile Trust Co. now owns 2,290 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 320 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its position in Metlife by 5.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 231,330 shares of the financial services provider’s stock worth $9,848,000 after acquiring an additional 11,338 shares during the period. 75.55% of the stock is currently owned by institutional investors.

MET stock traded up $0.20 during mid-day trading on Wednesday, hitting $47.63. The stock had a trading volume of 233,468 shares, compared to its average volume of 5,968,586. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.22. Metlife Inc has a 52 week low of $37.76 and a 52 week high of $51.16. The firm has a market capitalization of $45.30 billion, a P/E ratio of 8.83, a P/E/G ratio of 1.02 and a beta of 1.11. The firm has a fifty day simple moving average of $46.23 and a 200 day simple moving average of $46.83.

Metlife (NYSE:MET) last released its earnings results on Wednesday, July 31st. The financial services provider reported $1.38 EPS for the quarter, beating the consensus estimate of $1.31 by $0.07. Metlife had a net margin of 9.28% and a return on equity of 9.75%. The firm had revenue of $16.45 billion for the quarter, compared to analyst estimates of $16.43 billion. During the same period last year, the firm earned $1.30 EPS. The business’s quarterly revenue was down 22.4% compared to the same quarter last year. As a group, equities analysts expect that Metlife Inc will post 5.67 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 6th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend was Monday, August 5th. Metlife’s dividend payout ratio is currently 32.65%.

A number of equities analysts recently commented on MET shares. Zacks Investment Research raised shares of Metlife from a “sell” rating to a “hold” rating and set a $51.00 price target on the stock in a research report on Friday, August 2nd. Barclays raised their price target on shares of Metlife from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 22nd. Wells Fargo & Co raised their price target on shares of Metlife from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, July 11th. Morgan Stanley lowered their price target on shares of Metlife from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 20th. Finally, Citigroup lowered their price target on shares of Metlife from $42.00 to $41.00 and set a “sell” rating on the stock in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $49.61.

Metlife 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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Institutional Ownership by Quarter for Metlife (NYSE:MET)

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