Cibc World Markets Corp Has $8.39 Million Holdings in MetLife, Inc. (MET)
Cibc World Markets Corp grew its position in MetLife, Inc. (NYSE:MET) by 34.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 152,683 shares of the financial services provider’s stock after acquiring an additional 39,128 shares during the quarter. Cibc World Markets Corp’s holdings in MetLife were worth $8,388,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in MET. Suntrust Banks Inc. lifted its holdings in shares of MetLife by 3.7% in the 2nd quarter. Suntrust Banks Inc. now owns 81,924 shares of the financial services provider’s stock worth $4,499,000 after acquiring an additional 2,908 shares during the last quarter. Wealthfront Inc. boosted its stake in shares of MetLife by 6.1% during the 2nd quarter. Wealthfront Inc. now owns 50,943 shares of the financial services provider’s stock worth $2,799,000 after purchasing an additional 2,921 shares during the period. TIAA FSB purchased a new position in shares of MetLife during the 2nd quarter worth about $1,188,000. Vanguard Group Inc. boosted its stake in shares of MetLife by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 66,723,143 shares of the financial services provider’s stock worth $3,665,769,000 after purchasing an additional 1,358,523 shares during the period. Finally, Marietta Wealth Management LLC boosted its stake in shares of MetLife by 4.3% during the 2nd quarter. Marietta Wealth Management LLC now owns 8,215 shares of the financial services provider’s stock worth $451,000 after purchasing an additional 339 shares during the period. 74.27% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently weighed in on MET shares. Wells Fargo & Company reissued a “buy” rating on shares of MetLife in a research report on Saturday, July 1st. Langen Mcalenn restated a “buy” rating on shares of MetLife in a research report on Wednesday, August 16th. Royal Bank Of Canada restated a “buy” rating and set a $62.00 target price on shares of MetLife in a research report on Wednesday, July 12th. J P Morgan Chase & Co started coverage on MetLife in a research note on Monday, July 24th. They set a “hold” rating and a $78.00 target price on the stock. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $59.00 target price on shares of MetLife in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $57.95.
Shares of MetLife, Inc. (MET) opened at 51.95 on Monday. MetLife, Inc. has a 12 month low of $39.25 and a 12 month high of $52.24. The stock has a 50 day moving average of $47.80 and a 200 day moving average of $47.30. The stock has a market cap of $55.22 billion, a PE ratio of 611.18 and a beta of 1.47.
MetLife (NYSE:MET) last posted 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 return on equity of 8.51% and a net margin of 0.30%. The firm had revenue of $17.39 billion for the quarter, compared to analyst estimates of $17.11 billion. During the same quarter in the prior year, the company earned $0.83 EPS. MetLife’s revenue was up 2.5% on a year-over-year basis. On average, equities analysts anticipate that MetLife, Inc. will post $4.82 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.08%. The ex-dividend date was Thursday, August 3rd. MetLife’s dividend payout ratio is currently 1,777.98%.
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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