MAI Capital Management Has $8.18 Million Stake in MetLife, Inc. (NYSE:MET)
MAI Capital Management boosted its position in MetLife, Inc. (NYSE:MET) by 15.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 154,853 shares of the financial services provider’s stock after buying an additional 20,990 shares during the period. MAI Capital Management’s holdings in MetLife were worth $8,179,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in MET. Cigna Investments Inc. New acquired a new position in shares of MetLife during the fourth quarter worth about $2,099,000. 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. Prospera Financial Services Inc purchased a new stake in MetLife during the first quarter valued at about $1,525,000. Tompkins Financial Corp raised its stake in MetLife by 40.8% in the first quarter. Tompkins Financial Corp now owns 7,789 shares of the financial services provider’s stock valued at $342,000 after buying an additional 2,258 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in MetLife by 3.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 4,148,498 shares of the financial services provider’s stock valued at $223,563,000 after buying an additional 140,341 shares in the last quarter. 74.69% of the stock is currently owned by hedge funds and other institutional investors.
MetLife, Inc. (MET) traded up 0.79% during mid-day trading on Friday, reaching $53.92. The company’s stock had a trading volume of 6,401,613 shares. The company has a 50 day moving average of $54.59 and a 200-day moving average of $53.07. MetLife, Inc. has a 52-week low of $38.87 and a 52-week high of $58.09. The stock has a market cap of $58.62 billion, a PE ratio of 605.84 and a beta of 1.46.
MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.02. MetLife had a net margin of 0.30% and a return on equity of 8.46%. The business had revenue of $17.39 billion during the quarter, compared to the consensus estimate of $17.11 billion. During the same period in the previous year, the firm posted $0.83 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities analysts forecast that MetLife, Inc. will post $5.36 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Thursday, August 3rd. MetLife’s dividend payout ratio (DPR) is presently 1,777.98%.
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MET has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $59.00 price target on shares of MetLife in a research note on Thursday. TheStreet raised MetLife from a “c” rating to a “b-” rating in a research note on Monday, July 24th. BidaskClub lowered MetLife from a “hold” rating to a “sell” rating in a report on Monday, July 24th. J P Morgan Chase & Co started coverage on MetLife in a report on Monday, July 24th. They issued a “hold” rating and a $78.00 price objective for the company. Finally, Wells Fargo & Company restated an “outperform” rating and issued a $63.00 price objective (up previously from $61.00) on shares of MetLife in a report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $59.02.
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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