Employers Holdings Inc. acquired a new position in shares of Metlife Inc (NYSE:MET) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,800 shares of the financial services provider’s stock, valued at approximately $387,000.
A number of other institutional investors also recently bought and sold shares of MET. Jackson Grant Investment Advisers Inc. grew its holdings in Metlife by 4,407.7% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 586 shares of the financial services provider’s stock valued at $25,000 after buying an additional 573 shares during the period. Kavar Capital Partners LLC purchased a new stake in Metlife in the 2nd quarter valued at about $25,000. Osborn Williams & Donohoe LLC purchased a new stake in Metlife in the 1st quarter valued at about $26,000. Meridian Wealth Management LLC purchased a new stake in Metlife in the 1st quarter valued at about $26,000. Finally, Advisory Alpha LLC purchased a new stake in Metlife in the 1st quarter valued at about $27,000. Hedge funds and other institutional investors own 75.13% of the company’s stock.
Several analysts have commented on MET shares. Wells Fargo & Co lifted their price target on Metlife from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, July 11th. Morgan Stanley lifted their price target on Metlife from $52.00 to $53.00 and gave the company an “equal weight” rating in a report on Wednesday, July 10th. Citigroup set a $42.00 price target on Metlife and gave the company a “sell” rating in a report on Thursday, May 23rd. ValuEngine cut Metlife from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Barclays lifted their price target on Metlife from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $50.91.
Metlife (NYSE:MET) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.07. The business had revenue of $16.45 billion for the quarter, compared to analyst estimates of $16.43 billion. Metlife had a return on equity of 9.75% and a net margin of 9.28%. The company’s revenue was down 22.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.30 EPS. On average, research analysts forecast that Metlife Inc will post 5.65 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 6th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.88%. The ex-dividend date is Monday, August 5th. Metlife’s dividend payout ratio is currently 32.65%.
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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