OLD Second National Bank of Aurora Decreases Stake in MetLife, Inc. (MET)
OLD Second National Bank of Aurora reduced its stake in MetLife, Inc. (NYSE:MET) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,892 shares of the financial services provider’s stock after selling 296 shares during the period. OLD Second National Bank of Aurora’s holdings in MetLife were worth $2,686,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Signature Estate & Investment Advisors LLC purchased a new position in shares of MetLife during the first quarter valued at $107,000. First Personal Financial Services raised its position in shares of MetLife by 11.5% in the first quarter. First Personal Financial Services now owns 2,588 shares of the financial services provider’s stock valued at $137,000 after buying an additional 266 shares during the last quarter. Westside Investment Management Inc. raised its position in shares of MetLife by 583.8% in the first quarter. Westside Investment Management Inc. now owns 2,694 shares of the financial services provider’s stock valued at $140,000 after buying an additional 2,300 shares during the last quarter. Parallel Advisors LLC raised its position in shares of MetLife by 50.7% in the first quarter. Parallel Advisors LLC now owns 2,748 shares of the financial services provider’s stock valued at $143,000 after buying an additional 924 shares during the last quarter. Finally, First Mercantile Trust Co. purchased a new position in shares of MetLife during the first quarter valued at $149,000. 74.83% of the stock is currently owned by institutional investors.
Shares of MetLife, Inc. (NYSE MET) traded down 1.343% during mid-day trading on Wednesday, hitting $48.115. The company’s stock had a trading volume of 3,536,125 shares. MetLife, Inc. has a 1-year low of $39.50 and a 1-year high of $58.09. The company has a 50-day moving average of $54.67 and a 200 day moving average of $53.10. The company has a market cap of $52.31 billion, a price-to-earnings ratio of 540.618 and a beta of 1.46.
MetLife (NYSE:MET) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, beating the consensus estimate of $1.28 by $0.02. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The company had revenue of $17.39 billion for the quarter, compared to the consensus estimate of $17.11 billion. During the same quarter in the prior year, the business earned $0.83 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts expect that MetLife, Inc. will post $4.93 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 7th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Thursday, August 3rd. MetLife’s payout ratio is 1,777.98%.
MET has been the topic of several research reports. TheStreet raised MetLife from a “c” rating to a “b-” rating in a research report on Monday, July 24th. Wells Fargo & Company reissued a “buy” rating on shares of MetLife in a report on Saturday, July 1st. Zacks Investment Research raised MetLife from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a report on Tuesday, April 11th. Royal Bank Of Canada reissued a “buy” rating and set a $62.00 price objective on shares of MetLife in a report on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $59.00 price objective on shares of MetLife in a report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. MetLife currently has a consensus rating of “Hold” and a consensus target price 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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