Riverhead Capital Management LLC Buys 55,130 Shares of Metlife Inc (NYSE:MET)
Riverhead Capital Management LLC increased its stake in shares of Metlife Inc (NYSE:MET) by 14.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 443,806 shares of the financial services provider’s stock after purchasing an additional 55,130 shares during the quarter. Metlife makes up approximately 0.8% of Riverhead Capital Management LLC’s holdings, making the stock its 13th largest holding. Riverhead Capital Management LLC’s holdings in Metlife were worth $18,893,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Osborn Williams & Donohoe LLC purchased a new stake in Metlife in the 1st quarter valued at about $26,000. Advisory Alpha LLC purchased a new stake in Metlife in the 1st quarter valued at about $27,000. Jackson Grant Investment Advisers Inc. grew its holdings in Metlife by 4,407.7% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 586 shares of the financial services provider’s stock valued at $25,000 after buying an additional 573 shares during the period. JNBA Financial Advisors purchased a new stake in Metlife in the 4th quarter valued at about $26,000. Finally, Bruderman Asset Management LLC purchased a new stake in Metlife in the 4th quarter valued at about $27,000. Hedge funds and other institutional investors own 75.74% of the company’s stock.
Several analysts have commented on MET shares. ValuEngine cut Metlife from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. UBS Group lifted their price target on Metlife from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, April 9th. Sandler O’Neill cut Metlife from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a report on Tuesday, March 19th. Argus restated a “buy” rating on shares of Metlife in a report on Tuesday, February 12th. Finally, Barclays lifted their price target on Metlife from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. Metlife presently has a consensus rating of “Hold” and a consensus price target of $50.59.
Metlife (NYSE:MET) last released its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.18. The business had revenue of $15.45 billion for the quarter, compared to analyst estimates of $15.95 billion. Metlife had a return on equity of 10.20% and a net margin of 7.56%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.36 EPS. On average, equities research analysts expect that Metlife Inc will post 5.61 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Tuesday, May 7th will be paid a $0.44 dividend. This is a positive change from Metlife’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend is Monday, May 6th. Metlife’s payout ratio is currently 32.65%.
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Metlife Company Profile
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short- and long-term disability, individual disability, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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