New York State Common Retirement Fund trimmed its holdings in Metlife Inc (NYSE:MET) by 4.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,921,800 shares of the financial services provider’s stock after selling 86,600 shares during the period. New York State Common Retirement Fund’s holdings in Metlife were worth $81,811,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently modified their holdings of the company. Lavaca Capital LLC bought a new position in shares of Metlife in the fourth quarter worth $158,000. Strs Ohio increased its position in shares of Metlife by 1.5% in the fourth quarter. Strs Ohio now owns 882,327 shares of the financial services provider’s stock worth $36,228,000 after purchasing an additional 12,768 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Metlife in the fourth quarter worth $275,000. Bartlett & Co. LLC increased its position in shares of Metlife by 1.9% in the fourth quarter. Bartlett & Co. LLC now owns 23,112 shares of the financial services provider’s stock worth $949,000 after purchasing an additional 426 shares during the period. Finally, IFM Investors Pty Ltd increased its position in shares of Metlife by 8.1% in the fourth quarter. IFM Investors Pty Ltd now owns 49,829 shares of the financial services provider’s stock worth $2,046,000 after purchasing an additional 3,728 shares during the period. 77.77% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on MET shares. Argus restated a “buy” rating on shares of Metlife in a research report on Tuesday, February 12th. UBS Group raised their price objective on Metlife from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, April 9th. Sandler O’Neill lowered Metlife from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research note on Tuesday, March 19th. ValuEngine lowered Metlife from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Finally, Zacks Investment Research lowered Metlife from a “buy” rating to a “hold” rating in a research note on Monday, January 21st. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $52.76.
Metlife (NYSE:MET) last announced its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.18. Metlife had a return on equity of 10.20% and a net margin of 7.56%. The firm had revenue of $15.45 billion for the quarter, compared to analyst estimates of $15.95 billion. During the same period last year, the firm posted $1.36 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities analysts predict that Metlife Inc will post 5.61 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Tuesday, May 7th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.70%. This is a positive change from Metlife’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, May 6th. Metlife’s dividend payout ratio (DPR) is presently 32.65%.
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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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