Cypress Asset Management Inc. TX Lowers Position in MetLife, Inc. (MET)
Cypress Asset Management Inc. TX reduced its stake in shares of MetLife, Inc. (NYSE:MET) by 7.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,325 shares of the financial services provider’s stock after selling 325 shares during the period. Cypress Asset Management Inc. TX’s holdings in MetLife were worth $238,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MET. Signature Estate & Investment Advisors LLC acquired a new stake in MetLife during the first quarter valued at approximately $107,000. First Personal Financial Services increased its stake in MetLife by 11.5% in the first quarter. First Personal Financial Services now owns 2,588 shares of the financial services provider’s stock valued at $137,000 after buying an additional 266 shares in the last quarter. Westside Investment Management Inc. increased its stake in MetLife by 583.8% in the first quarter. Westside Investment Management Inc. now owns 2,694 shares of the financial services provider’s stock valued at $140,000 after buying an additional 2,300 shares in the last quarter. Parallel Advisors LLC increased its stake in MetLife by 50.7% in the first quarter. Parallel Advisors LLC now owns 2,748 shares of the financial services provider’s stock valued at $143,000 after buying an additional 924 shares in the last quarter. Finally, First Mercantile Trust Co. acquired a new stake in MetLife during the first quarter valued at approximately $149,000. Hedge funds and other institutional investors own 74.83% of the company’s stock.
MetLife, Inc. (NYSE MET) traded up 1.11% during trading on Tuesday, reaching $49.07. 3,032,270 shares of the company traded hands. The company has a market cap of $53.35 billion, a PE ratio of 551.35 and a beta of 1.46. The company’s 50-day moving average is $54.59 and its 200 day moving average is $53.07. MetLife, Inc. has a 12 month low of $38.87 and a 12 month high of $58.09.
MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.02. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The firm had revenue of $17.39 billion during the quarter, compared to analysts’ expectations of $17.11 billion. During the same period in the previous year, the business posted $0.83 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, analysts anticipate that MetLife, Inc. will post $4.97 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.30%. MetLife’s dividend payout ratio (DPR) is 1,777.98%.
Several analysts have commented on the stock. Wells Fargo & Company reissued a “buy” rating on shares of MetLife in a research report on Monday. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $59.00 target price on shares of MetLife in a research report on Thursday, August 3rd. TheStreet raised shares of MetLife from a “c” rating to a “b-” rating in a research report on Monday, July 24th. BidaskClub downgraded shares of MetLife from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Finally, J P Morgan Chase & Co assumed coverage on shares of MetLife in a research report on Monday, July 24th. They issued a “hold” rating and a $78.00 target price for the company. Two equities 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 company’s stock. The company currently 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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