MetLife, Inc. (MET) Stake Decreased by Texas Permanent School Fund
Texas Permanent School Fund reduced its position in shares of MetLife, Inc. (NYSE:MET) by 3.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 317,677 shares of the financial services provider’s stock after selling 11,583 shares during the period. Texas Permanent School Fund’s holdings in MetLife were worth $16,780,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Signature Estate & Investment Advisors LLC bought a new stake in shares of MetLife during the first quarter worth approximately $107,000. First Personal Financial Services raised its position in MetLife by 11.5% in the first quarter. First Personal Financial Services now owns 2,588 shares of the financial services provider’s stock valued at $137,000 after buying an additional 266 shares in the last quarter. First Mercantile Trust Co. acquired a new position in MetLife during the first quarter valued at about $149,000. Carroll Financial Associates Inc. raised its position in MetLife by 15.0% in the first quarter. Carroll Financial Associates Inc. now owns 2,847 shares of the financial services provider’s stock valued at $150,000 after buying an additional 372 shares in the last quarter. Finally, CI Investments Inc. acquired a new position in MetLife during the first quarter valued at about $158,000. 74.53% of the stock is currently owned by institutional investors.
Shares of MetLife, Inc. (NYSE MET) opened at 53.52 on Friday. MetLife, Inc. has a one year low of $36.17 and a one year high of $58.09. The stock’s market capitalization is $57.58 billion. The firm has a 50-day moving average of $51.66 and a 200 day moving average of $53.14.
MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, May 3rd. The financial services provider reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.19. The firm had revenue of $16.27 billion during the quarter, compared to analysts’ expectations of $17.02 billion. MetLife had a negative net margin of 0.95% and a positive return on equity of 7.57%. The business’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.20 earnings per share. On average, equities research analysts predict that MetLife, Inc. will post $5.36 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 13th. Investors of record on Monday, May 8th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend was Thursday, May 4th. MetLife’s dividend payout ratio (DPR) is currently -258.06%.
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Several brokerages have weighed in on MET. Vetr lowered MetLife from a “strong-buy” rating to a “buy” rating and set a $55.49 price objective for the company. in a report on Monday, March 27th. TheStreet downgraded MetLife from a “b-” rating to a “c” rating in a research report on Tuesday, May 16th. Zacks Investment Research upgraded 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. J P Morgan Chase & Co lowered their price objective on MetLife from $57.00 to $54.00 and set an “overweight” rating on the stock in a research report on Monday, April 3rd. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of MetLife in a research report on Thursday, May 4th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $55.94.
In other MetLife news, Director James M. Kilts acquired 17,205 shares of the company’s stock in a transaction that occurred on Wednesday, March 22nd. The stock was purchased at an average price of $51.13 per share, for a total transaction of $879,691.65. Following the completion of the acquisition, the director now owns 59,443 shares of the company’s stock, valued at approximately $3,039,320.59. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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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