LSV Asset Management Sells 87,294 Shares of MetLife Inc. (MET)
LSV Asset Management lowered its stake in MetLife Inc. (NYSE:MET) by 2.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,318,062 shares of the company’s stock after selling 87,294 shares during the period. LSV Asset Management owned 0.39% of MetLife worth $171,988,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Hermes Investment Management Ltd. boosted its position in MetLife by 12.3% in the second quarter. Hermes Investment Management Ltd. now owns 393,115 shares of the company’s stock valued at $15,658,000 after buying an additional 43,100 shares during the last quarter. Douglas Lane & Associates LLC boosted its position in MetLife by 4.6% in the second quarter. Douglas Lane & Associates LLC now owns 1,150,985 shares of the company’s stock valued at $45,844,000 after buying an additional 50,215 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in MetLife by 4.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,636,668 shares of the company’s stock valued at $71,915,000 after buying an additional 63,700 shares during the last quarter. Legal & General Group Plc boosted its position in MetLife by 3.4% in the first quarter. Legal & General Group Plc now owns 4,224,663 shares of the company’s stock valued at $185,659,000 after buying an additional 140,006 shares during the last quarter. Finally, Natixis boosted its position in MetLife by 25.1% in the first quarter. Natixis now owns 1,380,230 shares of the company’s stock valued at $60,647,000 after buying an additional 277,289 shares during the last quarter. 74.80% of the stock is owned by hedge funds and other institutional investors.
MetLife Inc. (NYSE:MET) traded up 0.31% during trading on Friday, hitting $44.74. The stock had a trading volume of 4,548,350 shares. The company has a market cap of $49.16 billion, a P/E ratio of 11.76 and a beta of 1.87. The company has a 50 day moving average of $42.20 and a 200-day moving average of $42.99. MetLife Inc. has a 12-month low of $35.00 and a 12-month high of $52.45.
MetLife (NYSE:MET) last announced its earnings results on Wednesday, August 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by $0.52. The company had revenue of $17 billion for the quarter, compared to analyst estimates of $17.35 billion. MetLife had a return on equity of 6.18% and a net margin of 6.49%. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the firm earned $1.56 earnings per share. On average, equities analysts predict that MetLife Inc. will post $4.65 EPS for the current year.
The business also recently announced 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend was Thursday, August 4th. MetLife’s dividend payout ratio (DPR) is presently 42.11%.
MET has been the subject of several research analyst reports. Sandler O’Neill upgraded MetLife from a “hold” rating to a “buy” rating in a research report on Monday, June 27th. TheStreet cut MetLife from a “buy” rating to a “hold” rating in a research report on Wednesday, August 24th. Argus restated a “buy” rating and issued a $54.00 price target on shares of MetLife in a research report on Wednesday, September 7th. FBR & Co raised their price target on MetLife from $51.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, August 29th. Finally, Deutsche Bank AG cut MetLife from a “buy” rating to a “hold” rating and dropped their price target for the company from $47.00 to $44.00 in a research report on Wednesday, July 13th. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $52.45.
In other news, EVP Maria R. Morris sold 2,000 shares of the business’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $39.43, for a total transaction of $78,860.00. Following the sale, the executive vice president now directly owns 109,273 shares of the company’s stock, valued at $4,308,634.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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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