Candriam Luxembourg S.C.A. lowered its stake in MetLife, Inc. (NYSE:MET) by 8.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,096 shares of the financial services provider’s stock after selling 8,867 shares during the period. Candriam Luxembourg S.C.A.’s holdings in MetLife were worth $5,335,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of MET. Korea Investment CORP increased its stake in shares of MetLife by 57.8% in the first quarter. Korea Investment CORP now owns 639,124 shares of the financial services provider’s stock valued at $33,759,000 after buying an additional 234,081 shares during the period. IFC Holdings Incorporated FL increased its stake in shares of MetLife by 136.7% in the first quarter. IFC Holdings Incorporated FL now owns 12,525 shares of the financial services provider’s stock valued at $661,000 after buying an additional 7,233 shares during the period. Rehmann Capital Advisory Group increased its stake in shares of MetLife by 17.9% in the first quarter. Rehmann Capital Advisory Group now owns 16,464 shares of the financial services provider’s stock valued at $870,000 after buying an additional 2,501 shares during the period. Sigma Planning Corp increased its stake in shares of MetLife by 91.5% in the first quarter. Sigma Planning Corp now owns 15,624 shares of the financial services provider’s stock valued at $825,000 after buying an additional 7,466 shares during the period. Finally, GW Henssler & Associates Ltd. bought a new stake in shares of MetLife during the first quarter valued at about $5,555,000. Hedge funds and other institutional investors own 75.61% of the company’s stock.
MetLife, Inc. (NYSE MET) opened at 47.99 on Friday. The company has a 50-day moving average of $48.46 and a 200-day moving average of $47.25. MetLife, Inc. has a 52 week low of $37.46 and a 52 week high of $51.99. The company has a market capitalization of $51.01 billion, a PE ratio of 564.59 and a beta of 1.46.
MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.02. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The company had revenue of $17.39 billion for the quarter, compared to analysts’ expectations of $17.11 billion. During the same quarter in the previous year, the business posted $0.83 earnings per share. MetLife’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities research analysts anticipate that MetLife, Inc. will post $4.83 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Monday, August 7th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.33%. The ex-dividend date is Thursday, August 3rd. MetLife’s dividend payout ratio is presently 1,777.98%.
Several brokerages have issued reports on MET. Citigroup Inc. set a $51.00 price objective on shares of MetLife and gave the stock a “sell” rating in a research report on Friday, July 7th. Wells Fargo & Company restated an “outperform” rating and set a $63.00 price objective (up from $61.00) on shares of MetLife in a research report on Wednesday, July 12th. Royal Bank Of Canada restated a “buy” rating and set a $62.00 price objective on shares of MetLife in a research report on Wednesday, July 12th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $59.00 target price on shares of MetLife in a report on Thursday, August 3rd. Finally, TheStreet raised shares of MetLife from a “c” rating to a “b-” rating in a report on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. MetLife currently has a consensus rating of “Hold” 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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