Fmr LLC Sells 2,827,373 Shares of MetLife, Inc. (NYSE:MET)
FMR LLC lowered its position in shares of MetLife, Inc. (NYSE:MET) by 11.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,378,150 shares of the financial services provider’s stock after selling 2,827,373 shares during the period. FMR LLC owned about 1.97% of MetLife worth $1,129,194,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Dodge & Cox bought a new position in shares of MetLife during the fourth quarter worth about $2,212,814,000. Diamond Hill Capital Management Inc. increased its position in shares of MetLife by 16.1% in the first quarter. Diamond Hill Capital Management Inc. now owns 6,838,929 shares of the financial services provider’s stock valued at $361,232,000 after buying an additional 950,133 shares during the period. Norges Bank acquired a new position in shares of MetLife during the fourth quarter valued at $324,535,000. UBS Asset Management Americas Inc. increased its position in shares of MetLife by 30.3% in the first quarter. UBS Asset Management Americas Inc. now owns 5,405,008 shares of the financial services provider’s stock valued at $285,493,000 after buying an additional 1,256,510 shares during the period. Finally, APG Asset Management N.V. increased its position in shares of MetLife by 53.8% in the first quarter. APG Asset Management N.V. now owns 3,902,274 shares of the financial services provider’s stock valued at $206,118,000 after buying an additional 1,365,018 shares during the period. 74.83% of the stock is owned by institutional investors and hedge funds.
MetLife, Inc. (MET) traded up 0.49% during trading on Tuesday, reaching $48.77. The company had a trading volume of 7,843,049 shares. The firm has a 50-day moving average of $54.67 and a 200-day moving average of $53.10. MetLife, Inc. has a 1-year low of $39.50 and a 1-year high of $58.09. The stock has a market capitalization of $53.03 billion, a price-to-earnings ratio of 547.98 and a beta of 1.46.
MetLife (NYSE:MET) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, topping the 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 quarter in the prior year, the firm earned $0.83 EPS. MetLife’s quarterly revenue was up 2.5% on a year-over-year basis. On average, analysts anticipate that MetLife, Inc. will post $4.97 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.28%. The ex-dividend date is Thursday, August 3rd. MetLife’s dividend payout ratio (DPR) is 1,777.98%.
Several research analysts recently weighed in on the company. Wells Fargo & Company restated a “buy” rating on shares of MetLife in a research note on Monday. Keefe, Bruyette & Woods restated a “buy” rating and set a $59.00 target price on shares of MetLife in a research note on Thursday, August 3rd. TheStreet raised MetLife from a “c” rating to a “b-” rating in a research report on Monday, July 24th. BidaskClub cut MetLife from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. 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 target for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus 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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