DnB Asset Management AS Decreases Position in MetLife, Inc. (NYSE:MET)
DnB Asset Management AS reduced its stake in shares of MetLife, Inc. (NYSE:MET) by 77.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,322 shares of the financial services provider’s stock after selling 341,766 shares during the period. DnB Asset Management AS’s holdings in MetLife were worth $5,567,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position 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 valued at $3,616,895,000 after buying an additional 66,475,603 shares during the period. Vanguard Group Inc. raised its position 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 valued at $3,452,559,000 after buying an additional 1,885,246 shares during the period. State Street Corp raised its position 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 valued at $2,589,297,000 after buying an additional 680,903 shares during the period. Geode Capital Management LLC raised its stake in shares of 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 during the last quarter. Finally, Morgan Stanley raised its stake in shares of 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 during the last quarter. 74.83% of the stock is currently owned by institutional investors.
Shares of MetLife, Inc. (NYSE:MET) traded down 1.68% during mid-day trading on Wednesday, reaching $47.95. The company had a trading volume of 2,194,465 shares. MetLife, Inc. has a 52-week low of $39.50 and a 52-week high of $58.09. The company’s 50-day moving average price is $54.67 and its 200-day moving average price is $53.10. The company has a market capitalization of $52.13 billion, a PE ratio of 538.76 and a beta of 1.46.
MetLife (NYSE:MET) last announced 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. The business had revenue of $17.39 billion during the quarter, compared to analyst estimates of $17.11 billion. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.83 earnings per share. On average, analysts forecast that MetLife, Inc. will post $4.93 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 7th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Thursday, August 3rd. MetLife’s dividend payout ratio is currently 1,777.98%.
A number of analysts have recently issued reports on MET shares. TheStreet raised MetLife from a “c” rating to a “b-” rating in a research report on Monday, July 24th. Wells Fargo & Company reaffirmed a “buy” rating on shares of MetLife in a research report on Saturday, July 1st. Zacks Investment Research raised MetLife from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Tuesday, April 11th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $62.00 target price on shares of MetLife in a research report on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $59.00 target price on shares of MetLife in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $59.10.
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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