Seaward Management Limited Partnership continued to hold its stake in MetLife, Inc. (NYSE:MET) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,833 shares of the financial services provider’s stock at the end of the first quarter. Seaward Management Limited Partnership’s holdings in MetLife were worth $360,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sowell Financial Services LLC raised its stake in MetLife by 8.5% in the first quarter. Sowell Financial Services LLC now owns 10,634 shares of the financial services provider’s stock valued at $537,000 after buying an additional 829 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in MetLife by 0.3% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 156,115 shares of the financial services provider’s stock valued at $8,246,000 after buying an additional 502 shares during the last quarter. Ballentine Partners LLC purchased a new stake in MetLife during the first quarter valued at approximately $265,000. Teachers Retirement System of The State of Kentucky raised its stake in MetLife by 19.2% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 518,635 shares of the financial services provider’s stock valued at $27,395,000 after buying an additional 83,433 shares during the last quarter. Finally, Achmea Investment Management B.V. purchased a new stake in MetLife during the first quarter valued at approximately $3,678,000. 75.61% of the stock is currently owned by institutional investors and hedge funds.
Shares of MetLife, Inc. (NYSE:MET) traded down 0.42% on Thursday, reaching $47.75. 1,286,976 shares of the company’s stock traded hands. The company has a 50 day moving average price of $49.04 and a 200 day moving average price of $51.56. The firm has a market capitalization of $50.75 billion, a price-to-earnings ratio of 561.76 and a beta of 1.46. MetLife, Inc. has a 52 week low of $40.07 and a 52 week high of $58.09.
MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.02. The firm had revenue of $17.39 billion during the quarter, compared to the consensus estimate of $17.11 billion. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 EPS. On average, equities research analysts predict that MetLife, Inc. will post $4.88 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 7th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.34%. MetLife’s payout ratio is 1,777.98%.
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A number of analysts have issued reports on the company. Citigroup Inc. set a $51.00 target price on MetLife and gave the company a “sell” rating in a research report on Friday, July 7th. Royal Bank Of Canada reissued a “buy” rating and issued a $62.00 target price on shares of MetLife in a research report on Wednesday, July 12th. Wells Fargo & Company restated an “outperform” rating and issued a $63.00 price target (up previously from $61.00) on shares of MetLife in a research note on Wednesday, July 12th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $59.00 price target on shares of MetLife in a research note on Thursday, August 3rd. Finally, TheStreet upgraded shares of MetLife from a “c” rating to a “b-” rating in a research note on Monday, July 24th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $59.17.
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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