Sentry Investment Management LLC cut its stake in shares of MetLife, Inc. (NYSE:MET) by 7.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 81,631 shares of the financial services provider’s stock after selling 6,694 shares during the period. Sentry Investment Management LLC’s holdings in MetLife were worth $4,312,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. RFG Advisory Group LLC bought a new position in MetLife during the first quarter valued at $389,000. Beacon Investment Advisory Services Inc. boosted its position in MetLife by 20.8% in the first quarter. Beacon Investment Advisory Services Inc. now owns 8,911 shares of the financial services provider’s stock valued at $471,000 after buying an additional 1,537 shares in the last quarter. Mission Wealth Management LLC boosted its position in MetLife by 1.2% in the first quarter. Mission Wealth Management LLC now owns 11,091 shares of the financial services provider’s stock valued at $586,000 after buying an additional 128 shares in the last quarter. Simmons Bank boosted its position in MetLife by 3.1% in the first quarter. Simmons Bank now owns 14,090 shares of the financial services provider’s stock valued at $745,000 after buying an additional 423 shares in the last quarter. Finally, Rothschild Asset Management Inc. boosted its position in MetLife by 25.1% in the first quarter. Rothschild Asset Management Inc. now owns 373,569 shares of the financial services provider’s stock valued at $19,732,000 after buying an additional 74,995 shares in the last quarter. 74.51% of the stock is currently owned by hedge funds and other institutional investors.
MetLife, Inc. (NYSE MET) opened at 54.76 on Wednesday. The firm’s 50 day moving average is $53.56 and its 200-day moving average is $53.00. MetLife, Inc. has a 12 month low of $38.87 and a 12 month high of $58.09. The firm’s market cap is $58.92 billion.
MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.19. MetLife had a negative net margin of 0.95% and a positive return on equity of 7.57%. The company had revenue of $16.27 billion for the quarter, compared to analyst estimates of $17.02 billion. During the same quarter in the previous year, the firm posted $1.20 earnings per share. The company’s quarterly revenue was down 11.7% compared to the same quarter last year. On average, equities analysts forecast that MetLife, Inc. will post $5.38 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 7th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Thursday, August 3rd. MetLife’s dividend payout ratio (DPR) is currently -258.06%.
Several research analysts have weighed in on the stock. Wells Fargo & Company reissued an “outperform” rating and issued a $63.00 price target (up from $61.00) on shares of MetLife in a report on Wednesday, July 12th. Royal Bank Of Canada reissued a “buy” rating and issued a $62.00 price target on shares of MetLife in a report on Wednesday, July 12th. Citigroup Inc. set a $51.00 price target on shares of MetLife and gave the company a “sell” rating in a report on Friday, July 7th. BidaskClub raised shares of MetLife from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Finally, ValuEngine raised shares of MetLife from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $57.03.
About MetLife
MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings; Brighthouse Financial, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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