MetLife, Inc. (MET) Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS
Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in MetLife, Inc. (NYSE:MET) by 28.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,651 shares of the financial services provider’s stock after buying an additional 17,643 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in MetLife were worth $4,260,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of MET. Cigna Investments Inc. New purchased a new position in shares of MetLife during the fourth quarter worth $2,099,000. Commonwealth Bank of Australia raised its position 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 last quarter. Atria Investments LLC raised its position 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 last quarter. State Street Corp raised its position 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 last quarter. Finally, Prospera Financial Services Inc purchased a new position in shares of MetLife during the first quarter worth $1,525,000. 74.53% of the stock is currently owned by institutional investors.
MetLife, Inc. (NYSE MET) opened at 53.52 on Friday. The firm has a 50-day moving average price of $51.66 and a 200-day moving average price of $53.14. MetLife, Inc. has a 52 week low of $36.17 and a 52 week high of $58.09. The company’s market cap is $57.58 billion.
MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $1.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.19. MetLife had a positive return on equity of 7.57% and a negative net margin of 0.95%. The firm had revenue of $16.27 billion during the quarter, compared to analysts’ expectations of $17.02 billion. During the same quarter in the previous year, the business earned $1.20 earnings per share. The company’s revenue was down 11.7% on a year-over-year basis. Equities research analysts anticipate that MetLife, Inc. will post $5.36 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 13th. Stockholders of record on Monday, May 8th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend was Thursday, May 4th. MetLife’s dividend payout ratio is currently -258.06%.
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MET has been the topic of a number of research reports. Zacks Investment Research raised MetLife from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Tuesday, April 11th. Bank of America Corporation lowered MetLife from a “buy” rating to a “neutral” rating and upped their target price for the stock from $54.20 to $54.83 in a research report on Monday, March 6th. Citigroup Inc. reaffirmed a “focus list” rating on shares of MetLife in a research report on Tuesday, February 21st. Vetr raised MetLife from a “buy” rating to a “strong-buy” rating and set a $58.66 price target for the company in a research report on Tuesday, March 21st. Finally, Wells Fargo & Company reissued a “buy” rating on shares of MetLife in a research report on Monday, March 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. MetLife has a consensus rating of “Buy” and a consensus price target of $55.94.
In other news, Director James M. Kilts acquired 17,205 shares of the business’s stock in a transaction that occurred on Wednesday, March 22nd. The stock was bought at an average price of $51.13 per share, with a total value of $879,691.65. Following the completion of the acquisition, the director now directly owns 59,443 shares of the company’s stock, valued at approximately $3,039,320.59. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.30% of the company’s stock.
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.
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