MetLife, Inc. (MET) Shares Bought by Patriot Financial Group Insurance Agency LLC
Patriot Financial Group Insurance Agency LLC raised its position in shares of MetLife, Inc. (NYSE:MET) by 35.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,919 shares of the financial services provider’s stock after buying an additional 2,855 shares during the period. MetLife accounts for 0.6% of Patriot Financial Group Insurance Agency LLC’s portfolio, making the stock its 23rd largest position. Patriot Financial Group Insurance Agency LLC’s holdings in MetLife were worth $567,000 as of its most recent filing with the SEC.
A number of other hedge funds have also added to or reduced their stakes in the stock. Signature Estate & Investment Advisors LLC acquired a new stake in MetLife during the first quarter worth about $107,000. First Personal Financial Services raised its stake in MetLife by 11.5% in the first 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. First Mercantile Trust Co. acquired a new stake in MetLife during the first quarter worth about $149,000. Carroll Financial Associates Inc. raised its stake in MetLife by 15.0% in the first quarter. Carroll Financial Associates Inc. now owns 2,847 shares of the financial services provider’s stock worth $150,000 after buying an additional 372 shares during the period. Finally, CI Investments Inc. acquired a new stake in MetLife during the first quarter worth about $158,000. 74.53% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MetLife, Inc. (MET) opened at 52.84 on Monday. The firm’s market cap is $56.85 billion. The company has a 50-day moving average price of $51.46 and a 200 day moving average price of $53.19. MetLife, Inc. has a 52 week low of $36.17 and a 52 week high of $58.09.
MetLife (NYSE:MET) last announced its earnings results on Wednesday, May 3rd. The financial services provider reported $1.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.19. The company had revenue of $16.27 billion for the quarter, compared to analyst estimates of $17.02 billion. MetLife had a positive return on equity of 7.57% and a negative net margin of 0.95%. The firm’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 earnings per share. Analysts expect that MetLife, Inc. will post $5.39 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 13th. Stockholders of record on Monday, May 8th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, May 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.03%. MetLife’s dividend payout ratio (DPR) is currently -258.06%.
A number of analysts have issued reports on the company. Zacks Investment Research raised MetLife from a “sell” rating to a “hold” rating in a report on Wednesday, February 15th. Vetr raised MetLife from a “buy” rating to a “strong-buy” rating and set a $58.66 target price on the stock in a report on Tuesday, March 21st. FBR & Co raised MetLife from a “market perform” rating to an “outperform” rating and raised their target price for the company from $54.00 to $58.00 in a report on Thursday, May 25th. BidaskClub raised MetLife from a “strong sell” rating to a “sell” rating in a report on Saturday. Finally, TheStreet raised MetLife from a “c” rating to a “b-” rating in a report on Monday, April 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. MetLife has an average rating of “Buy” and a consensus target price of $55.94.
In related news, Director James M. Kilts purchased 17,205 shares of MetLife stock in a transaction that occurred on Wednesday, March 22nd. The shares were acquired at an average price of $51.13 per share, with a total value of $879,691.65. Following the completion of the transaction, the director now directly owns 59,443 shares of the company’s stock, valued at approximately $3,039,320.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is currently owned by company insiders.
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; Brighthouse Financial, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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