Rafferty Asset Management LLC Increases Position in MetLife, Inc. (NYSE:MET)
Rafferty Asset Management LLC raised its position in MetLife, Inc. (NYSE:MET) by 22.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 169,045 shares of the financial services provider’s stock after buying an additional 30,599 shares during the period. Rafferty Asset Management LLC’s holdings in MetLife were worth $8,929,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MET. Lebenthal Asset Management LLC raised its position in MetLife by 6.5% in the fourth quarter. Lebenthal Asset Management LLC now owns 125,667 shares of the financial services provider’s stock worth $6,773,000 after buying an additional 7,698 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in MetLife during the fourth quarter worth $1,291,000. Independent Advisor Alliance acquired a new position in MetLife during the fourth quarter worth $601,000. Archford Capital Strategies LLC raised its position in MetLife by 11.2% in the fourth quarter. Archford Capital Strategies LLC now owns 10,093 shares of the financial services provider’s stock worth $543,000 after buying an additional 1,017 shares during the period. Finally, IFM Investors Pty Ltd acquired a new position in MetLife during the fourth quarter worth $637,000. 74.83% of the stock is currently owned by institutional investors and hedge funds.
MetLife, Inc. (NYSE:MET) traded up 1.00% during mid-day trading on Monday, reaching $48.53. 9,326,090 shares of the company traded hands. MetLife, Inc. has a 52-week low of $38.87 and a 52-week high of $58.09. The stock has a market capitalization of $52.76 billion, a PE ratio of 545.28 and a beta of 1.46. The stock has a 50-day moving average of $54.59 and a 200 day moving average of $53.07.
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 Zacks’ consensus estimate of $1.28 by $0.02. The company had revenue of $17.39 billion for the quarter, compared to the consensus estimate of $17.11 billion. MetLife had a net margin of 0.30% and a return on equity of 8.51%. MetLife’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 earnings per share. Equities research analysts expect that MetLife, Inc. will post $5.31 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Thursday, August 3rd. MetLife’s dividend payout ratio is currently 1,777.98%.
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A number of research analysts have weighed in on MET shares. Zacks Investment Research raised shares of MetLife from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Tuesday, April 11th. Wells Fargo & Company reissued a “buy” rating on shares of MetLife in a research note on Tuesday, April 18th. TheStreet lowered shares of MetLife from a “b-” rating to a “c” rating in a research note on Tuesday, May 16th. FBR & Co raised shares of MetLife from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $54.00 to $58.00 in a research note on Thursday, May 25th. Finally, BidaskClub raised shares of MetLife from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. MetLife presently has an average 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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