Teacher Retirement System of Texas raised its stake in shares of MetLife, Inc. (NYSE:MET) by 7.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 822,785 shares of the financial services provider’s stock after buying an additional 55,508 shares during the period. Teacher Retirement System of Texas owned 0.08% of MetLife worth $43,460,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Beacon Financial Group increased its position in shares of MetLife by 4.1% in the first quarter. Beacon Financial Group now owns 145,931 shares of the financial services provider’s stock worth $7,751,000 after buying an additional 5,713 shares in the last quarter. Macquarie Group Ltd. boosted its stake in MetLife by 10.0% in the fourth quarter. Macquarie Group Ltd. now owns 325,781 shares of the financial services provider’s stock worth $17,557,000 after buying an additional 29,682 shares during the last quarter. Wsfs Capital Management LLC bought a new stake in MetLife during the fourth quarter worth $216,000. Searle & CO. bought a new stake in MetLife during the fourth quarter worth $264,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in MetLife during the fourth quarter worth $1,918,000. 74.60% of the stock is owned by institutional investors and hedge funds.
MetLife, Inc. (NYSE:MET) traded up 0.38% during mid-day trading on Friday, reaching $55.25. 2,602,914 shares of the company were exchanged. The stock’s 50-day moving average is $54.45 and its 200-day moving average is $53.07. MetLife, Inc. has a 12 month low of $38.87 and a 12 month high of $58.09. The company’s market cap is $59.45 billion.
MetLife (NYSE:MET) last released its earnings results on Wednesday, May 3rd. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.19. MetLife had a positive return on equity of 7.57% and a negative net margin of 0.95%. The business had revenue of $16.27 billion for the quarter, compared to analyst estimates of $17.02 billion. During the same quarter in the prior year, the company posted $1.20 earnings per share. MetLife’s revenue was down 11.7% on a year-over-year basis. Equities analysts expect that MetLife, Inc. will post $5.38 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th will be paid a $0.40 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $1.60 annualized dividend and a yield of 2.90%. MetLife’s dividend payout ratio is -258.06%.
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MET has been the topic of a number of research analyst reports. TheStreet raised shares of MetLife from a “c” rating to a “b-” rating in a report on Monday, April 3rd. Wells Fargo & Company reaffirmed a “buy” rating on shares of MetLife in a report on Tuesday, April 18th. Zacks Investment Research upgraded shares of MetLife from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research report on Tuesday, April 11th. Royal Bank Of Canada reiterated a “buy” rating and issued a $62.00 price objective on shares of MetLife in a research report on Wednesday, July 12th. Finally, BidaskClub upgraded shares of MetLife from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $59.03.
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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