Glenview Trust Co Sells 6,965 Shares of MetLife, Inc. (MET)
Glenview Trust Co lessened its holdings in MetLife, Inc. (NYSE:MET) by 5.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,397 shares of the financial services provider’s stock after selling 6,965 shares during the quarter. Glenview Trust Co’s holdings in MetLife were worth $7,219,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. First Personal Financial Services boosted its position in MetLife by 11.5% during the 1st quarter. First Personal Financial Services now owns 2,588 shares of the financial services provider’s stock worth $137,000 after buying an additional 266 shares during the period. Westside Investment Management Inc. grew its holdings in MetLife by 583.8% during the 1st quarter. Westside Investment Management Inc. now owns 2,694 shares of the financial services provider’s stock worth $140,000 after acquiring an additional 2,300 shares during the last quarter. Parallel Advisors LLC grew its holdings in MetLife by 50.7% during the 1st quarter. Parallel Advisors LLC now owns 2,748 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 924 shares during the last quarter. CI Investments Inc. bought a new stake in MetLife during the 1st quarter worth approximately $158,000. Finally, First Mercantile Trust Co. grew its holdings in MetLife by 3.4% during the 2nd quarter. First Mercantile Trust Co. now owns 2,926 shares of the financial services provider’s stock worth $161,000 after acquiring an additional 97 shares during the last quarter. Institutional investors and hedge funds own 74.27% of the company’s stock.
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Shares of MetLife, Inc. (NYSE:MET) opened at 51.95 on Monday. The company has a market cap of $55.22 billion, a price-to-earnings ratio of 611.18 and a beta of 1.47. 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 $39.25 and a 1-year high of $52.24.
MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, topping the Zacks’ 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 period last year, the company earned $0.83 EPS. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. Analysts predict that MetLife, Inc. will post $4.82 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Monday, August 7th were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, August 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.08%. MetLife’s dividend payout ratio is presently 1,777.98%.
A number of equities analysts have recently commented on MET shares. TheStreet lowered shares of MetLife from a “b-” rating to a “c+” rating in a report on Monday, August 21st. ValuEngine upgraded MetLife from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. BidaskClub downgraded MetLife from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Wells Fargo & Company restated an “outperform” rating and issued a $63.00 price objective (up from $61.00) on shares of MetLife in a report on Wednesday, July 12th. Finally, UBS AG reaffirmed a “neutral” rating and set a $49.00 target price (down from $57.00) on shares of MetLife in a research report on Friday, September 1st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target 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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