Gofen & Glossberg LLC IL Has $20.07 Million Stake in MetLife, Inc. (NYSE:MET)
Gofen & Glossberg LLC IL decreased its position in MetLife, Inc. (NYSE:MET) by 3.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 380,012 shares of the financial services provider’s stock after selling 14,049 shares during the period. Gofen & Glossberg LLC IL’s holdings in MetLife were worth $20,072,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of MET. Elkhorn Investments LLC bought a new position in MetLife during the fourth quarter worth $730,000. Vident Investment Advisory LLC increased its position in MetLife by 3.9% in the fourth quarter. Vident Investment Advisory LLC now owns 57,567 shares of the financial services provider’s stock worth $3,102,000 after buying an additional 2,147 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in MetLife during the fourth quarter worth $438,000. Norges Bank bought a new position in MetLife during the fourth quarter worth $324,535,000. Finally, Sowell Financial Services LLC bought a new position in MetLife during the fourth quarter worth $529,000. 74.83% of the stock is currently owned by institutional investors.
MetLife, Inc. (MET) traded up 1.00% during midday trading on Monday, reaching $48.53. 9,326,090 shares of the company were exchanged. The firm’s 50-day moving average is $54.59 and its 200-day moving average is $53.07. MetLife, Inc. has a one year low of $38.87 and a one year high of $58.09. The firm has a market cap of $52.76 billion, a P/E ratio of 545.28 and a beta of 1.46.
MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.02. The firm had revenue of $17.39 billion for the quarter, compared to analyst estimates of $17.11 billion. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 EPS. On average, equities analysts expect that MetLife, Inc. will post $5.31 EPS for the current fiscal year.
The firm also recently declared 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 annualized dividend and a yield of 3.30%. The ex-dividend date is Thursday, August 3rd. MetLife’s dividend payout ratio (DPR) is presently 1,777.98%.
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A number of research firms have weighed in on MET. Citigroup Inc. set a $51.00 price target on shares of MetLife and gave the stock a “sell” rating in a research note on Friday, July 7th. Royal Bank Of Canada reissued a “buy” rating and issued a $62.00 target price on shares of MetLife in a research note on Wednesday, July 12th. Wells Fargo & Company reissued an “outperform” rating and issued a $63.00 target price (up previously from $61.00) on shares of MetLife in a research note on Wednesday, July 12th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $59.00 target price on shares of MetLife in a research note on Thursday. Finally, TheStreet raised shares of MetLife from a “c” rating to a “b-” rating in a research note on Monday, July 24th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $59.02.
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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