MetLife, Inc. (MET) Shares Bought by Accuvest Global Advisors
Accuvest Global Advisors boosted its stake in shares of MetLife, Inc. (NYSE:MET) by 13.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,446 shares of the financial services provider’s stock after buying an additional 1,152 shares during the period. Accuvest Global Advisors’ holdings in MetLife were worth $519,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. CAPROCK Group Inc. raised its position in MetLife by 18.6% in the second quarter. CAPROCK Group Inc. now owns 9,213 shares of the financial services provider’s stock valued at $506,000 after buying an additional 1,444 shares during the period. CIBC Asset Management Inc raised its position in MetLife by 5.1% in the second quarter. CIBC Asset Management Inc now owns 154,737 shares of the financial services provider’s stock valued at $8,495,000 after buying an additional 7,569 shares during the period. Rothschild Asset Management Inc. raised its position in MetLife by 1.6% in the second quarter. Rothschild Asset Management Inc. now owns 379,712 shares of the financial services provider’s stock valued at $20,862,000 after buying an additional 6,143 shares during the period. Nicolet Bankshares Inc. bought a new position in MetLife during the second quarter valued at approximately $204,000. Finally, Honkamp Krueger Financial Services Inc. raised its position in MetLife by 1.7% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 6,242 shares of the financial services provider’s stock valued at $343,000 after buying an additional 104 shares during the period. 75.61% of the stock is owned by hedge funds and other institutional investors.
Shares of MetLife, Inc. (NYSE:MET) opened at 47.17 on Wednesday. MetLife, Inc. has a 52-week low of $36.08 and a 52-week high of $51.99. The firm has a 50-day moving average price of $48.70 and a 200-day moving average price of $47.23. The firm has a market capitalization of $50.14 billion, a P/E ratio of 554.94 and a beta of 1.46.
MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.02. The company had revenue of $17.39 billion during the quarter, compared to analyst estimates of $17.11 billion. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.83 earnings per share. On average, equities research analysts anticipate that MetLife, Inc. will post $4.88 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders 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 dividend yield of 3.39%. The ex-dividend date is Thursday, August 3rd. MetLife’s payout ratio is 1,777.98%.
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Several equities analysts have recently commented on the company. Citigroup Inc. set a $51.00 target price on MetLife and gave the company a “sell” rating in a report on Friday, July 7th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $63.00 target price (up from $61.00) on shares of MetLife in a report on Wednesday, July 12th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $62.00 target price on shares of MetLife in a report on Wednesday, July 12th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $59.00 target price on shares of MetLife in a report on Thursday, August 3rd. Finally, TheStreet raised MetLife from a “c” rating to a “b-” rating in a report on Monday, July 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $59.17.
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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