Piedmont Investment Advisors LLC Cuts Stake in MetLife, Inc. (MET)
Piedmont Investment Advisors LLC cut its position in MetLife, Inc. (NYSE:MET) by 24.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 497,144 shares of the financial services provider’s stock after selling 159,549 shares during the period. Piedmont Investment Advisors LLC’s holdings in MetLife were worth $26,259,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. increased its stake in MetLife by 3,323.3% in the first quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock worth $3,616,895,000 after buying an additional 66,475,603 shares in the last quarter. Vanguard Group Inc. increased its stake in MetLife by 3.0% in the first quarter. Vanguard Group Inc. now owns 65,364,620 shares of the financial services provider’s stock worth $3,452,559,000 after buying an additional 1,885,246 shares in the last quarter. State Street Corp increased its stake in MetLife by 1.4% in the first quarter. State Street Corp now owns 49,020,964 shares of the financial services provider’s stock worth $2,589,297,000 after buying an additional 680,903 shares in the last quarter. Geode Capital Management LLC increased its stake in MetLife by 6.9% in the first quarter. Geode Capital Management LLC now owns 10,265,096 shares of the financial services provider’s stock worth $541,427,000 after buying an additional 664,918 shares in the last quarter. Finally, Morgan Stanley increased its stake in MetLife by 5.4% in the first quarter. Morgan Stanley now owns 7,946,397 shares of the financial services provider’s stock worth $419,728,000 after buying an additional 404,104 shares in the last quarter. 74.83% of the stock is currently owned by institutional investors.
Shares of MetLife, Inc. (NYSE MET) traded up 0.54% during trading on Monday, hitting $48.31. The company had a trading volume of 2,268,622 shares. MetLife, Inc. has a 12-month low of $38.87 and a 12-month high of $58.09. The stock has a market cap of $52.53 billion, a PE ratio of 542.81 and a beta of 1.46. The firm has a 50 day moving average of $54.59 and a 200 day moving average of $53.07.
MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.02. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The business had revenue of $17.39 billion during the quarter, compared to analysts’ expectations of $17.11 billion. During the same quarter in the prior year, the company earned $0.83 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. On average, analysts forecast that MetLife, Inc. will post $5.31 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Monday, August 7th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Thursday, August 3rd. MetLife’s dividend payout ratio is currently 1,777.98%.
MET has been the topic of a number of research reports. TheStreet downgraded MetLife from a “b-” rating to a “c” rating in a research note on Tuesday, May 16th. Royal Bank Of Canada reissued a “buy” rating and issued a $62.00 price objective on shares of MetLife in a research note on Wednesday, July 12th. Wells Fargo & Company reissued a “buy” rating on shares of MetLife in a research note on Thursday, May 4th. Zacks Investment Research raised MetLife from a “sell” rating to a “hold” rating in a research note on Friday, May 5th. Finally, ValuEngine raised MetLife from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $59.02.
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.
Want to see what other hedge funds are holding MET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MetLife, Inc. (NYSE:MET).
Receive News & Ratings for MetLife Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MetLife Inc. and related companies with MarketBeat.com's FREE daily email newsletter.