Salem Investment Counselors Inc. raised its position in MetLife, Inc. (NYSE:MET) by 5.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,030 shares of the financial services provider’s stock after buying an additional 2,180 shares during the period. Salem Investment Counselors Inc.’s holdings in MetLife were worth $2,024,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. BlackRock Inc. raised its stake in shares of MetLife by 3,323.3% in the first quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock worth $3,616,895,000 after buying an additional 66,475,603 shares during the period. Vanguard Group Inc. increased its position in shares of MetLife by 3.0% in the first quarter. Vanguard Group Inc. now owns 65,364,620 shares of the financial services provider’s stock worth $3,452,559,000 after buying an additional 1,885,246 shares in the last quarter. State Street Corp increased its position in shares of MetLife by 1.4% in the first quarter. State Street Corp now owns 49,020,964 shares of the financial services provider’s stock worth $2,589,297,000 after buying an additional 680,903 shares in the last quarter. Geode Capital Management LLC increased its position in shares of MetLife by 6.9% in the first quarter. Geode Capital Management LLC now owns 10,265,096 shares of the financial services provider’s stock worth $541,427,000 after buying an additional 664,918 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of MetLife by 5.4% in the first quarter. Morgan Stanley now owns 7,946,397 shares of the financial services provider’s stock worth $419,728,000 after buying an additional 404,104 shares in the last quarter. Institutional investors own 74.69% of the company’s stock.

Shares of MetLife, Inc. (MET) traded up 0.49% during trading on Friday, reaching $53.76. The company had a trading volume of 2,243,394 shares. The firm has a 50-day moving average price of $54.59 and a 200-day moving average price of $53.07. The company has a market capitalization of $58.45 billion, a P/E ratio of 604.04 and a beta of 1.46. MetLife, Inc. has a 52-week low of $38.87 and a 52-week high of $58.09.

MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.02. MetLife had a return on equity of 8.46% and a net margin of 0.30%. The company had revenue of $17.39 billion for the quarter, compared to the consensus estimate of $17.11 billion. During the same period in the previous year, the business earned $0.83 EPS. MetLife’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, analysts predict that MetLife, Inc. will post $5.36 EPS for the current fiscal 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 dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.60 annualized dividend and a yield of 2.99%. MetLife’s dividend payout ratio is presently 1,777.98%.

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A number of brokerages have recently commented on MET. TheStreet downgraded MetLife from a “b-” rating to a “c” rating in a research report on Tuesday, May 16th. Wells Fargo & Company reissued a “buy” rating on shares of MetLife in a research report on Saturday, July 1st. Keefe, Bruyette & Woods reissued a “buy” rating and set a $59.00 price objective on shares of MetLife in a research report on Thursday. Royal Bank Of Canada reissued a “buy” rating and set a $62.00 price objective on shares of MetLife in a research report on Wednesday, July 12th. Finally, J P Morgan Chase & Co began coverage on MetLife in a research report on Monday, July 24th. They set a “hold” rating and a $78.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target 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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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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