Deprince Race & Zollo Inc. Purchases 45,507 Shares of MetLife Inc. (MET)
Deprince Race & Zollo Inc. boosted its position in shares of MetLife Inc. (NYSE:MET) by 6.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 722,124 shares of the company’s stock after buying an additional 45,507 shares during the period. Deprince Race & Zollo Inc. owned approximately 0.07% of MetLife worth $28,762,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. NN Investment Partners Holdings N.V. purchased a new stake in shares of MetLife during the first quarter worth approximately $118,571,000. Nikko Asset Management Americas Inc. raised its stake in shares of MetLife by 31.1% in the first quarter. Nikko Asset Management Americas Inc. now owns 7,160 shares of the company’s stock worth $320,000 after buying an additional 1,700 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of MetLife by 6.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 36,319 shares of the company’s stock worth $1,596,000 after buying an additional 2,294 shares in the last quarter. Peapack Gladstone Financial Corp raised its stake in shares of MetLife by 31.9% in the first quarter. Peapack Gladstone Financial Corp now owns 85,511 shares of the company’s stock worth $3,757,000 after buying an additional 20,687 shares in the last quarter. Finally, BlackRock Japan Co. Ltd raised its stake in shares of MetLife by 2.3% in the first quarter. BlackRock Japan Co. Ltd now owns 1,228,016 shares of the company’s stock worth $53,959,000 after buying an additional 27,374 shares in the last quarter. Hedge funds and other institutional investors own 74.80% of the company’s stock.
MetLife Inc. (NYSE:MET) traded up 1.13% during trading on Tuesday, hitting $44.87. The stock had a trading volume of 6,230,598 shares. The stock’s 50-day moving average is $43.04 and its 200 day moving average is $43.03. The firm has a market cap of $49.31 billion, a price-to-earnings ratio of 11.79 and a beta of 1.84. MetLife Inc. has a one year low of $35.00 and a one year high of $52.45.
MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by $0.52. The firm had revenue of $17 billion for the quarter, compared to analyst estimates of $17.35 billion. MetLife had a return on equity of 6.18% and a net margin of 6.49%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.56 earnings per share. Equities analysts anticipate that MetLife Inc. will post $4.64 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Monday, August 8th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $1.60 annualized dividend and a yield of 3.57%. MetLife’s dividend payout ratio is presently 42.11%.
A number of research analysts have issued reports on MET shares. Argus reissued a “buy” rating on shares of MetLife in a report on Monday, June 6th. Evercore ISI started coverage on MetLife in a report on Wednesday, July 6th. They issued a “buy” rating and a $52.00 price target for the company. JPMorgan Chase & Co. reissued a “buy” rating and issued a $51.00 price target on shares of MetLife in a report on Wednesday, July 6th. Sandler O’Neill raised MetLife from a “hold” rating to a “buy” rating in a report on Monday, June 27th. Finally, Zacks Investment Research raised MetLife from a “sell” rating to a “hold” rating in a report on Wednesday, June 22nd. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $52.45.
In related news, EVP Maria R. Morris sold 2,000 shares of MetLife stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $42.96, for a total transaction of $85,920.00. Following the completion of the transaction, the executive vice president now directly owns 109,273 shares of the company’s stock, valued at $4,694,368.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.27% of the company’s stock.
MetLife, Inc (MetLife) is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include Retail; Group, Voluntary & Worksite Benefits; Corporate Benefit Funding; Latin America (collectively, the Americas); Asia, and Europe, the Middle East and Africa (EMEA).
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