Panagora Asset Management Inc. reduced its holdings in shares of MetLife, Inc. (NYSE:MET) by 23.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,074,418 shares of the financial services provider’s stock after selling 337,976 shares during the period. Panagora Asset Management Inc. owned about 0.12% of MetLife worth $65,314,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. CIBC World Markets Inc. lifted its holdings in MetLife by 11.2% during the 1st quarter. CIBC World Markets Inc. now owns 128,386 shares of the financial services provider’s stock valued at $7,805,000 after purchasing an additional 12,965 shares during the last quarter. Bessemer Group Inc. lifted its holdings in MetLife by 27.0% during the 4th quarter. Bessemer Group Inc. now owns 26,225 shares of the financial services provider’s stock valued at $1,231,000 after purchasing an additional 5,572 shares during the last quarter. Cumberland Advisors Inc. bought a new position in MetLife during the 1st quarter valued at about $1,152,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in MetLife by 62,239.8% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,638,289 shares of the financial services provider’s stock valued at $76,918,000 after purchasing an additional 1,635,661 shares during the last quarter. Finally, Cibc World Markets Corp lifted its holdings in MetLife by 514.9% during the 4th quarter. Cibc World Markets Corp now owns 1,666,523 shares of the financial services provider’s stock valued at $78,243,000 after purchasing an additional 1,395,512 shares during the last quarter. Institutional investors and hedge funds own 75.46% of the company’s stock.
MET has been the subject of a number of research analyst reports. Morgan Stanley boosted their target price on shares of MetLife from $70.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, May 6th. Barclays boosted their target price on shares of MetLife from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Monday, April 12th. They noted that the move was a valuation call. Citigroup boosted their target price on shares of MetLife from $58.00 to $69.00 in a research note on Wednesday, March 31st. Royal Bank of Canada boosted their target price on shares of MetLife from $66.00 to $74.00 and gave the stock an “outperform” rating in a research note on Friday, May 7th. Finally, UBS Group initiated coverage on shares of MetLife in a research note on Monday, April 26th. They issued a “buy” rating and a $72.00 target price for the company. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. MetLife presently has a consensus rating of “Buy” and an average price target of $62.00.
Shares of NYSE:MET traded up $0.11 during trading on Friday, hitting $64.00. 8,237 shares of the company’s stock were exchanged, compared to its average volume of 5,208,654. MetLife, Inc. has a 1-year low of $34.82 and a 1-year high of $67.68. The company’s 50-day moving average is $64.13. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.14 and a current ratio of 0.14. The company has a market capitalization of $56.03 billion, a price-to-earnings ratio of 51.94, a P/E/G ratio of 1.91 and a beta of 1.33.
MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, May 5th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.72. The firm had revenue of $16.71 billion during the quarter, compared to analysts’ expectations of $15.88 billion. MetLife had a net margin of 2.05% and a return on equity of 8.75%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.58 earnings per share. On average, research analysts predict that MetLife, Inc. will post 7.13 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 14th. Investors of record on Tuesday, May 11th will be issued a dividend of $0.48 per share. The ex-dividend date is Monday, May 10th. This represents a $1.92 dividend on an annualized basis and a yield of 3.00%. This is a boost from MetLife’s previous quarterly dividend of $0.46. MetLife’s payout ratio is currently 31.17%.
MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. 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 general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.
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