MetLife Inc. (MET) Stake Raised by Conning Inc.
Conning Inc. raised its stake in MetLife Inc. (NYSE:MET) by 0.0% during the second quarter, Holdings Channel reports. The institutional investor owned 221,627 shares of the company’s stock after buying an additional 30 shares during the period. Conning Inc.’s holdings in MetLife were worth $8,827,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Manchester Capital Management LLC raised its position in MetLife by 0.3% in the second quarter. Manchester Capital Management LLC now owns 2,891 shares of the company’s stock valued at $115,000 after buying an additional 9 shares during the last quarter. Independent Portfolio Consultants Inc. raised its position in MetLife by 21.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 3,355 shares of the company’s stock valued at $134,000 after buying an additional 595 shares during the last quarter. Fulton Bank N.A. purchased a new position in MetLife during the second quarter valued at $219,000. Windward Capital Management Co. CA raised its position in MetLife by 5.9% in the second quarter. Windward Capital Management Co. CA now owns 5,738 shares of the company’s stock valued at $229,000 after buying an additional 320 shares during the last quarter. Finally, Osborn Rohs Williams & Donohoe Ltd raised its position in MetLife by 15.2% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 6,053 shares of the company’s stock valued at $241,000 after buying an additional 800 shares during the last quarter. Institutional investors own 74.80% of the company’s stock.
MetLife Inc. (NYSE:MET) traded up 1.57% during trading on Wednesday, hitting $44.70. 7,355,539 shares of the company’s stock traded hands. MetLife Inc. has a 52-week low of $35.00 and a 52-week high of $52.45. The company has a market cap of $49.12 billion, a PE ratio of 11.75 and a beta of 1.87. The company’s 50 day moving average price is $42.10 and its 200 day moving average price is $42.96.
MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.35 by $0.52. The business had revenue of $17 billion for the quarter, compared to the consensus estimate of $17.35 billion. MetLife had a net margin of 6.49% and a return on equity of 6.18%. The business’s revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.56 EPS. Analysts expect that MetLife Inc. will post $4.65 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Monday, August 8th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.58%. MetLife’s dividend payout ratio (DPR) is presently 42.11%.
Several research firms recently weighed in on MET. Zacks Investment Research raised shares of MetLife from a “sell” rating to a “hold” rating in a research note on Thursday, July 7th. Argus reaffirmed a “buy” rating and issued a $54.00 price target on shares of MetLife in a research note on Wednesday, September 7th. Deutsche Bank AG lowered shares of MetLife from a “buy” rating to a “hold” rating and cut their price target for the company from $47.00 to $44.00 in a research note on Wednesday, July 13th. Citigroup Inc. cut their price target on shares of MetLife from $46.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday, July 7th. Finally, Evercore ISI began coverage on shares of MetLife in a research note on Wednesday, July 6th. They issued a “buy” rating and a $52.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $52.45.
In related news, EVP Maria R. Morris sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $42.96, for a total value of $85,920.00. Following the completion of the sale, the executive vice president now owns 109,273 shares in the company, valued at approximately $4,694,368.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.27% of the company’s stock.
MetLife Company Profile
MetLife, Inc (MetLife) is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include Retail; Group, Voluntary & Worksite Benefits; Corporate Benefit Funding; Latin America (collectively, the Americas); Asia, and Europe, the Middle East and Africa (EMEA).
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