CI Investments Inc. Purchases Shares of 3,000 MetLife, Inc. (MET)
CI Investments Inc. acquired a new position in shares of MetLife, Inc. (NYSE:MET) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,000 shares of the financial services provider’s stock, valued at approximately $158,000.
A number of other hedge funds have also bought and sold shares of MET. Cigna Investments Inc. New acquired a new stake in MetLife during the fourth quarter worth about $2,099,000. Commonwealth Bank of Australia increased its stake in shares of MetLife by 3.9% in the third quarter. Commonwealth Bank of Australia now owns 221,247 shares of the financial services provider’s stock worth $9,829,000 after buying an additional 8,400 shares during the period. Atria Investments LLC increased its stake in shares of MetLife by 2.6% in the first quarter. Atria Investments LLC now owns 18,914 shares of the financial services provider’s stock worth $999,000 after buying an additional 488 shares during the period. State Street Corp increased its stake in shares of MetLife by 9.0% in the fourth quarter. State Street Corp now owns 48,340,061 shares of the financial services provider’s stock worth $2,605,045,000 after buying an additional 4,003,013 shares during the period. Finally, Prospera Financial Services Inc purchased a new stake in shares of MetLife during the first quarter worth $1,525,000. 74.53% of the stock is owned by hedge funds and other institutional investors.
Shares of MetLife, Inc. (MET) opened at 53.52 on Friday. The stock’s 50 day moving average is $51.66 and its 200 day moving average is $53.14. The firm’s market capitalization is $57.58 billion. MetLife, Inc. has a 52-week low of $36.17 and a 52-week high of $58.09.
MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.19. The company had revenue of $16.27 billion during the quarter, compared to the consensus estimate of $17.02 billion. MetLife had a positive return on equity of 7.57% and a negative net margin of 0.95%. MetLife’s revenue was down 11.7% on a year-over-year basis. During the same period last year, the company earned $1.20 earnings per share. On average, equities research analysts forecast that MetLife, Inc. will post $5.36 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 13th. Investors of record on Monday, May 8th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, May 4th. This represents a $1.60 dividend on an annualized basis and a yield of 2.99%. MetLife’s dividend payout ratio is presently -258.06%.
MET has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of MetLife from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a report on Tuesday, April 11th. Bank of America Corporation downgraded shares of MetLife from a “buy” rating to a “neutral” rating and upped their price target for the stock from $54.20 to $54.83 in a report on Monday, March 6th. Citigroup Inc. reissued a “focus list” rating on shares of MetLife in a research note on Tuesday, February 21st. Vetr raised shares of MetLife from a “buy” rating to a “strong-buy” rating and set a $58.66 price objective for the company in a research note on Tuesday, March 21st. Finally, Wells Fargo & Company reissued a “buy” rating on shares of MetLife in a research note on Monday, March 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $55.94.
In related news, Director James M. Kilts purchased 17,205 shares of the stock in a transaction that occurred on Wednesday, March 22nd. The stock was bought at an average cost of $51.13 per share, for a total transaction of $879,691.65. Following the completion of the transaction, the director now directly owns 59,443 shares in the company, valued at $3,039,320.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is owned by company insiders.
MetLife Company Profile
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.
Receive News & Stock Ratings for MetLife Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MetLife Inc. and related stocks with our FREE daily email newsletter.