MetLife, Inc. (NYSE:MET) Position Held by Harvey Capital Management Inc.
Harvey Capital Management Inc. continued to hold its position in MetLife, Inc. (NYSE:MET) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,600 shares of the financial services provider’s stock at the end of the second quarter. MetLife comprises approximately 1.5% of Harvey Capital Management Inc.’s investment portfolio, making the stock its 25th largest position. Harvey Capital Management Inc.’s holdings in MetLife were worth $3,439,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Atria Investments LLC raised its position in 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 period. Prospera Financial Services Inc bought a new position in MetLife during the first quarter worth approximately $1,525,000. Tompkins Financial Corp increased its position in MetLife by 40.8% in the first quarter. Tompkins Financial Corp now owns 7,789 shares of the financial services provider’s stock worth $342,000 after buying an additional 2,258 shares in the last quarter. Aberdeen Asset Management PLC UK increased its position in MetLife by 1.3% in the first quarter. Aberdeen Asset Management PLC UK now owns 469,645 shares of the financial services provider’s stock worth $24,807,000 after buying an additional 6,188 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in MetLife by 4.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 393,208 shares of the financial services provider’s stock worth $20,769,000 after buying an additional 15,716 shares in the last quarter. Institutional investors own 74.83% of the company’s stock.
Shares of MetLife, Inc. (MET) traded up 1.00% during midday trading on Monday, reaching $48.53. The company’s stock had a trading volume of 9,164,890 shares. The stock has a 50-day moving average of $54.59 and a 200 day moving average of $53.07. The company has a market cap of $52.76 billion, a price-to-earnings ratio of 545.28 and a beta of 1.46. MetLife, Inc. has a 12 month low of $38.87 and a 12 month high of $58.09.
MetLife (NYSE:MET) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.02. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The firm had revenue of $17.39 billion for the quarter, compared to the consensus estimate of $17.11 billion. During the same quarter in the previous year, the business earned $0.83 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. On average, analysts predict that MetLife, Inc. will post $5.31 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Monday, August 7th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.60 annualized dividend and a yield of 3.30%. MetLife’s payout ratio is 1,777.98%.
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MET has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of MetLife from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Tuesday, April 11th. ValuEngine raised shares of MetLife from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. BidaskClub cut MetLife from a “hold” rating to a “sell” rating in a report on Monday, July 24th. FBR & Co upgraded MetLife from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $54.00 to $58.00 in a report on Thursday, May 25th. Finally, Wells Fargo & Company restated an “outperform” rating and issued a $63.00 price target (up previously from $61.00) on shares of MetLife in a report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. MetLife has a consensus rating of “Hold” and an average 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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