Snow Capital Management LP Sells 53,733 Shares of MetLife, Inc. (MET)
Snow Capital Management LP cut its position in shares of MetLife, Inc. (NYSE:MET) by 4.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,151,101 shares of the financial services provider’s stock after selling 53,733 shares during the period. MetLife accounts for approximately 2.8% of Snow Capital Management LP’s portfolio, making the stock its 10th largest position. Snow Capital Management LP owned 0.11% of MetLife worth $60,801,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Atria Investments LLC increased 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 valued at $999,000 after buying an additional 488 shares during the period. Prospera Financial Services Inc purchased a new stake in MetLife during the first quarter valued at about $1,525,000. Teacher Retirement System of Texas boosted its stake in MetLife by 7.2% in the first quarter. Teacher Retirement System of Texas now owns 822,785 shares of the financial services provider’s stock valued at $43,460,000 after buying an additional 55,508 shares in the last quarter. Tompkins Financial Corp boosted its stake in MetLife by 40.8% in the first quarter. Tompkins Financial Corp now owns 7,789 shares of the financial services provider’s stock valued at $342,000 after buying an additional 2,258 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in MetLife by 3.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 4,148,498 shares of the financial services provider’s stock valued at $223,563,000 after buying an additional 140,341 shares in the last quarter. Hedge funds and other institutional investors own 75.61% of the company’s stock.
MetLife, Inc. (NYSE MET) traded up 0.15% during midday trading on Friday, reaching $47.02. 7,662,137 shares of the company traded hands. MetLife, Inc. has a 12-month low of $35.72 and a 12-month high of $51.77. The company has a market cap of $49.98 billion, a price-to-earnings ratio of 553.18 and a beta of 1.46. The company has a 50-day moving average price of $48.77 and a 200-day moving average price of $47.24.
MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.02. The company had revenue of $17.39 billion during the quarter, compared to the consensus estimate of $17.11 billion. MetLife had a return on equity of 8.51% and a net margin of 0.30%. MetLife’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the business posted $0.83 earnings per share. On average, analysts predict that MetLife, Inc. will post $4.88 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.40%. The ex-dividend date is Thursday, August 3rd. MetLife’s dividend payout ratio (DPR) is 1,777.98%.
TRADEMARK VIOLATION WARNING: This story was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this story on another publication, it was copied illegally and reposted in violation of US and international copyright legislation. The legal version of this story can be read at https://www.thecerbatgem.com/2017/08/19/metlife-inc-met-stake-lowered-by-snow-capital-management-lp-updated-updated-updated.html.
MET has been the topic of several research analyst reports. TheStreet cut shares of MetLife from a “b-” rating to a “c” rating in a research report on Tuesday, May 16th. Royal Bank Of Canada reiterated a “buy” rating and set a $62.00 price objective on shares of MetLife in a research note on Wednesday, July 12th. Wells Fargo & Company reiterated a “buy” rating on shares of MetLife in a research note on Thursday, May 4th. Zacks Investment Research upgraded shares of MetLife from a “sell” rating to a “hold” rating in a research note on Friday, May 5th. Finally, Argus dropped their price objective on shares of MetLife from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $59.17.
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.
Receive News & Stock Ratings for MetLife Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MetLife Inc. and related stocks with our FREE daily email newsletter.