MetLife, Inc. (MET) Shares Sold by Hennessy Advisors Inc.
Hennessy Advisors Inc. trimmed its stake in shares of MetLife, Inc. (NYSE:MET) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,300 shares of the financial services provider’s stock after selling 3,500 shares during the quarter. Hennessy Advisors Inc.’s holdings in MetLife were worth $5,456,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in MetLife by 3,323.3% during the 1st quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock worth $3,616,895,000 after purchasing an additional 66,475,603 shares in the last quarter. Vanguard Group Inc. increased its position in MetLife by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 65,364,620 shares of the financial services provider’s stock worth $3,452,559,000 after purchasing an additional 1,885,246 shares in the last quarter. State Street Corp increased its position in MetLife by 1.4% during the 1st quarter. State Street Corp now owns 49,020,964 shares of the financial services provider’s stock worth $2,589,297,000 after purchasing an additional 680,903 shares in the last quarter. Franklin Resources Inc. increased its position in MetLife by 1.6% during the 2nd quarter. Franklin Resources Inc. now owns 25,704,204 shares of the financial services provider’s stock worth $1,412,189,000 after purchasing an additional 414,032 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in MetLife by 6.9% during the 1st quarter. Geode Capital Management LLC now owns 10,265,096 shares of the financial services provider’s stock worth $541,427,000 after purchasing an additional 664,918 shares in the last quarter. Institutional investors and hedge funds own 74.14% of the company’s stock.
MET has been the subject of a number of research analyst reports. BidaskClub upgraded shares of MetLife from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. ValuEngine upgraded shares of MetLife from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Wells Fargo & Company reiterated a “buy” rating on shares of MetLife in a research report on Saturday, July 1st. Citigroup Inc. set a $51.00 price objective on shares of MetLife and gave the stock a “sell” rating in a research report on Friday, July 7th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $62.00 price objective on shares of MetLife in a research report on Wednesday, July 12th. 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’s stock. MetLife has an average rating of “Hold” and a consensus target price of $57.95.
Shares of MetLife, Inc. (NYSE MET) opened at 50.54 on Friday. The company has a market capitalization of $53.72 billion, a price-to-earnings ratio of 594.59 and a beta of 1.44. The stock has a 50 day moving average of $47.80 and a 200-day moving average of $47.30. MetLife, Inc. has a 1-year low of $38.17 and a 1-year high of $51.77.
MetLife (NYSE:MET) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $17.11 billion. During the same period last year, the firm posted $0.83 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. Analysts forecast that MetLife, Inc. will post $4.77 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Monday, August 7th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend was Thursday, August 3rd. MetLife’s payout ratio is 1,777.98%.
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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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