Rational Advisors LLC Increases Position in MetLife, Inc. (MET)
Rational Advisors LLC boosted its position in shares of MetLife, Inc. (NYSE:MET) by 14.3% during the first quarter, Holdings Channel reports. The fund owned 3,325 shares of the financial services provider’s stock after buying an additional 415 shares during the period. Rational Advisors LLC’s holdings in MetLife were worth $176,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dodge & Cox purchased a new position in shares of MetLife during the fourth quarter worth $2,212,814,000. Norges Bank purchased a new position in shares of MetLife during the fourth quarter worth $324,535,000. State Street Corp raised its position in shares of MetLife by 9.0% in the fourth quarter. State Street Corp now owns 48,340,061 shares of the financial services provider’s stock worth $2,605,045,000 after buying an additional 4,003,013 shares during the last quarter. Asset Management One Co. Ltd. raised its position in shares of MetLife by 1,899.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,762,316 shares of the financial services provider’s stock worth $94,960,000 after buying an additional 1,674,171 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of MetLife by 6.3% in the fourth quarter. Franklin Resources Inc. now owns 25,129,330 shares of the financial services provider’s stock worth $1,354,219,000 after buying an additional 1,485,749 shares during the last quarter. Hedge funds and other institutional investors own 74.53% of the company’s stock.
Shares of MetLife, Inc. (MET) opened at 53.99 on Tuesday. The company’s market cap is $58.09 billion. The firm has a 50-day moving average of $51.72 and a 200 day moving average of $53.11. MetLife, Inc. has a 52 week low of $36.17 and a 52 week high of $58.09.
MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.19. MetLife had a negative net margin of 0.95% and a positive return on equity of 7.57%. The business had revenue of $16.27 billion during the quarter, compared to analysts’ expectations of $17.02 billion. During the same quarter in the prior year, the company posted $1.20 EPS. The business’s revenue for the quarter was down 11.7% on a year-over-year basis. Equities analysts expect that MetLife, Inc. will post $5.36 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 13th. Stockholders of record on Monday, May 8th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, May 4th. This represents a $1.60 annualized dividend and a dividend yield of 2.96%. MetLife’s dividend payout ratio (DPR) is -258.06%.
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MET has been the subject of a number of research analyst reports. Vetr lowered MetLife from a “strong-buy” rating to a “buy” rating and set a $55.49 price objective for the company. in a research report on Monday, March 27th. TheStreet lowered MetLife from a “b-” rating to a “c” rating in a research report on Tuesday, May 16th. Zacks Investment Research upgraded MetLife from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Tuesday, April 11th. J P Morgan Chase & Co dropped their price target on MetLife from $57.00 to $54.00 and set an “overweight” rating for the company in a research report on Monday, April 3rd. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of MetLife in a research report on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $55.94.
In other news, Director James M. Kilts purchased 17,205 shares of the company’s stock in a transaction dated Wednesday, March 22nd. The stock was acquired at an average price of $51.13 per share, with a total value of $879,691.65. Following the purchase, the director now directly owns 59,443 shares in the company, valued at approximately $3,039,320.59. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.30% of the company’s stock.
MetLife Company Profile
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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