Narwhal Capital Management Continues to Hold Stake in MetLife Inc. (MET)
Narwhal Capital Management continued to hold its position in MetLife Inc. (NYSE:MET) during the second quarter, Holdings Channel reports. The institutional investor owned 58,300 shares of the company’s stock at the end of the second quarter. Narwhal Capital Management’s holdings in MetLife were worth $2,322,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares 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 worth $115,000 after buying an additional 9 shares in 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 worth $134,000 after buying an additional 595 shares in the last quarter. Fulton Bank N.A. acquired a new position in MetLife during the second quarter worth about $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 worth $229,000 after buying an additional 320 shares in 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 worth $241,000 after buying an additional 800 shares in the last quarter. 74.80% of the stock is owned by institutional investors.
Shares of MetLife Inc. (NYSE:MET) traded up 1.57% on Wednesday, hitting $44.70. 7,355,539 shares of the stock traded hands. The firm’s 50 day moving average is $42.17 and its 200-day moving average is $42.97. MetLife Inc. has a 12 month low of $35.00 and a 12 month 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.
MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by $0.52. The business earned $17 billion during the quarter, compared to analysts’ expectations of $17.35 billion. MetLife had a return on equity of 6.18% and a net margin of 6.49%. The company’s revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.56 EPS. Equities analysts predict that MetLife Inc. will post $4.65 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Monday, August 8th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.58%. The ex-dividend date was Thursday, August 4th. MetLife’s payout ratio is 42.11%.
A number of equities analysts have issued reports on MET shares. Argus reissued a “buy” rating on shares of MetLife in a research report on Monday, June 6th. Evercore ISI started coverage on shares of MetLife in a research report on Wednesday, July 6th. They set a “buy” rating and a $52.00 price target for the company. JPMorgan Chase & Co. reissued a “buy” rating and set a $51.00 price target on shares of MetLife in a research report on Wednesday, July 6th. Sandler O’Neill raised shares of MetLife from a “hold” rating to a “buy” rating in a report on Monday, June 27th. Finally, Zacks Investment Research raised shares of MetLife from a “sell” rating to a “hold” rating in a report on Wednesday, June 22nd. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. MetLife presently has a consensus rating of “Buy” and a consensus price target of $52.45.
In other MetLife news, EVP Maria R. Morris sold 2,000 shares of the stock in a transaction 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 transaction, the executive vice president now owns 109,273 shares in the company, valued at $4,694,368.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is owned by company insiders.
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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