MetLife, Inc. (MET) Stake Reduced by Bp Plc
Bp Plc reduced its position in MetLife, Inc. (NYSE:MET) by 9.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 101,000 shares of the financial services provider’s stock after selling 10,000 shares during the period. Bp Plc’s holdings in MetLife were worth $5,549,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of MetLife by 3,323.3% in the first quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock worth $3,616,895,000 after buying an additional 66,475,603 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of MetLife by 3.0% in the first quarter. Vanguard Group Inc. now owns 65,364,620 shares of the financial services provider’s stock worth $3,452,559,000 after buying an additional 1,885,246 shares in the last quarter. State Street Corp raised its stake in shares of MetLife by 1.4% in the first quarter. State Street Corp now owns 49,020,964 shares of the financial services provider’s stock worth $2,589,297,000 after buying an additional 680,903 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of MetLife by 6.9% in the first quarter. Geode Capital Management LLC now owns 10,265,096 shares of the financial services provider’s stock worth $541,427,000 after buying an additional 664,918 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of MetLife by 5.4% in the first quarter. Morgan Stanley now owns 7,946,397 shares of the financial services provider’s stock worth $419,728,000 after buying an additional 404,104 shares in the last quarter. Institutional investors own 74.23% of the company’s stock.
Shares of MetLife, Inc. (NYSE MET) opened at 47.99 on Monday. The stock’s 50 day moving average is $48.46 and its 200 day moving average is $47.25. The stock has a market capitalization of $51.01 billion, a PE ratio of 564.59 and a beta of 1.46. MetLife, Inc. has a 12 month low of $37.17 and a 12 month high of $52.07.
MetLife (NYSE:MET) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $17.39 billion for the quarter, compared to analysts’ expectations of $17.11 billion. During the same period last year, the company earned $0.83 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis. Analysts anticipate that MetLife, Inc. will post $4.83 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Monday, August 7th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.33%. MetLife’s dividend payout ratio is presently 1,777.98%.
A number of equities research analysts have weighed in on MET shares. TheStreet lowered shares of MetLife from a “b-” rating to a “c+” rating in a research note on Monday, August 21st. ValuEngine upgraded shares of MetLife from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. BidaskClub downgraded shares of MetLife from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Wells Fargo & Company reissued an “outperform” rating and set a $63.00 price objective (up previously from $61.00) on shares of MetLife in a research report on Wednesday, July 12th. Finally, FBR & Co raised shares of MetLife from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $54.00 to $58.00 in a research report on Thursday, May 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. MetLife has a consensus rating of “Hold” and a consensus target price 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, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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