Condor Capital Management Takes $277,000 Position in MetLife, Inc. (MET)
Condor Capital Management acquired a new stake in MetLife, Inc. (NYSE:MET) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,035 shares of the financial services provider’s stock, valued at approximately $277,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bronfman E.L. Rothschild L.P. lifted its stake in MetLife by 0.7% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,505 shares of the financial services provider’s stock valued at $302,000 after buying an additional 38 shares during the last quarter. Forward Management LLC lifted its stake in MetLife by 0.4% in the second quarter. Forward Management LLC now owns 9,661 shares of the financial services provider’s stock valued at $531,000 after buying an additional 41 shares during the last quarter. Peoples Bank OH lifted its stake in MetLife by 0.5% in the first quarter. Peoples Bank OH now owns 10,529 shares of the financial services provider’s stock valued at $556,000 after buying an additional 50 shares during the last quarter. Atria Investments LLC lifted its stake in MetLife by 0.4% in the second quarter. Atria Investments LLC now owns 18,986 shares of the financial services provider’s stock valued at $1,043,000 after buying an additional 72 shares during the last quarter. Finally, Apriem Advisors lifted its stake in MetLife by 0.6% in the second quarter. Apriem Advisors now owns 13,060 shares of the financial services provider’s stock valued at $718,000 after buying an additional 74 shares during the last quarter. Institutional investors own 74.14% of the company’s stock.
MetLife, Inc. (NYSE MET) opened at 48.54 on Monday. MetLife, Inc. has a one year low of $38.39 and a one year high of $52.07. The company’s 50-day moving average price is $47.80 and its 200-day moving average price is $47.29. The firm has a market cap of $51.59 billion, a price-to-earnings ratio of 571.06 and a beta of 1.44.
MetLife (NYSE:MET) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.02. The firm had revenue of $17.39 billion for 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%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.83 EPS. On average, analysts anticipate that MetLife, Inc. will post $4.78 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.30%. The ex-dividend date was Thursday, August 3rd. MetLife’s payout ratio is currently 1,777.98%.
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Several research firms have recently commented on MET. ValuEngine upgraded MetLife from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Citigroup Inc. set a $51.00 price target on MetLife and gave the stock a “sell” rating in a research note on Friday, July 7th. BidaskClub upgraded MetLife from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. UBS AG restated a “neutral” rating and set a $49.00 price target (down previously from $57.00) on shares of MetLife in a research note on Friday, September 1st. Finally, J P Morgan Chase & Co began coverage on MetLife in a research note 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 issued a hold rating and ten have issued a buy rating to the company. MetLife currently has a consensus rating of “Hold” and a consensus target price of $57.95.
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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