Bridgeway Capital Management Inc. Raises Position in MetLife Inc. (MET)
Bridgeway Capital Management Inc. increased its stake in shares of MetLife Inc. (NYSE:MET) by 6.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 628,134 shares of the company’s stock after buying an additional 36,600 shares during the period. Bridgeway Capital Management Inc. owned about 0.06% of MetLife worth $25,019,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the stock. Nuveen Asset Management LLC raised its stake in shares of MetLife by 42.9% in the first quarter. Nuveen Asset Management LLC now owns 129,577 shares of the company’s stock valued at $5,694,000 after buying an additional 38,876 shares during the period. Springbok Capital Management LLC raised its stake in shares of MetLife by 51.5% in the first quarter. Springbok Capital Management LLC now owns 12,405 shares of the company’s stock valued at $545,000 after buying an additional 4,215 shares during the period. Steinberg Global Asset Management raised its stake in shares of MetLife by 4.6% in the first quarter. Steinberg Global Asset Management now owns 15,009 shares of the company’s stock valued at $659,000 after buying an additional 662 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in shares of MetLife during the first quarter valued at about $264,000. Finally, Samlyn Capital LLC bought a new stake in shares of MetLife during the first quarter valued at about $24,725,000. 74.50% of the stock is currently owned by institutional investors.
Shares of MetLife Inc. (NYSE:MET) traded down 0.09% during mid-day trading on Friday, hitting $53.69. 10,845,665 shares of the stock traded hands. MetLife Inc. has a 1-year low of $35.00 and a 1-year high of $54.98. The company has a market capitalization of $59.01 billion, a PE ratio of 16.49 and a beta of 1.66. The company’s 50-day moving average price is $46.83 and its 200 day moving average price is $43.75.
MetLife (NYSE:MET) last issued its earnings results on Wednesday, November 2nd. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.04. MetLife had a net margin of 5.58% and a return on equity of 6.99%. The firm had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $17.03 billion. During the same quarter last year, the business earned $0.62 earnings per share. The business’s revenue was down 99.9% on a year-over-year basis. Equities research analysts forecast that MetLife Inc. will post $4.63 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Monday, November 7th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.98%. The ex-dividend date is Thursday, November 3rd. MetLife’s dividend payout ratio (DPR) is currently 49.23%.
A number of equities research analysts have weighed in on MET shares. Credit Suisse Group AG started coverage on shares of MetLife in a report on Friday, October 7th. They set a “neutral” rating and a $51.00 target price on the stock. Zacks Investment Research lowered shares of MetLife from a “hold” rating to a “sell” rating in a report on Wednesday, October 26th. Wells Fargo & Co. reissued an “outperform” rating on shares of MetLife in a report on Friday, September 23rd. Argus set a $54.00 target price on shares of MetLife and gave the stock a “buy” rating in a report on Friday, October 7th. Finally, FBR & Co boosted their target price on shares of MetLife from $51.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, August 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $51.35.
In related news, EVP Maria R. Morris sold 2,200 shares of MetLife stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $47.33, for a total value of $104,126.00. Following the sale, the executive vice president now owns 109,809 shares in the company, valued at $5,197,259.97. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Frans Hijkoop sold 56,250 shares of MetLife stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $51.48, for a total transaction of $2,895,750.00. Following the completion of the sale, the executive vice president now owns 111,813 shares in the company, valued at approximately $5,756,133.24. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by corporate insiders.
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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