Beacon Financial Group Has $8.10 Million Position in MetLife, Inc. (NYSE:MET)
Beacon Financial Group boosted its position in shares of MetLife, Inc. (NYSE:MET) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 147,036 shares of the financial services provider’s stock after buying an additional 1,105 shares during the period. MetLife comprises about 1.5% of Beacon Financial Group’s investment portfolio, making the stock its 25th largest position. Beacon Financial Group’s holdings in MetLife were worth $8,096,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC bought a new stake in shares of MetLife during the first quarter worth $107,000. First Personal Financial Services raised its stake 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 worth $137,000 after buying an additional 266 shares in the last quarter. Westside Investment Management Inc. raised its stake 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 worth $140,000 after buying an additional 2,300 shares in the last quarter. Parallel Advisors LLC raised its stake 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 worth $143,000 after buying an additional 924 shares in the last quarter. Finally, First Mercantile Trust Co. bought a new stake in shares of MetLife during the first quarter worth $149,000. 74.83% of the stock is owned by hedge funds and other institutional investors.
MetLife, Inc. (MET) traded down 3.29% during mid-day trading on Thursday, hitting $46.72. 2,870,477 shares of the company were exchanged. MetLife, Inc. has a 12-month low of $35.21 and a 12-month high of $51.77. The company has a 50 day moving average of $48.79 and a 200 day moving average of $47.33. The stock has a market cap of $49.66 billion, a P/E ratio of 549.65 and a beta of 1.46.
MetLife (NYSE:MET) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, topping the consensus estimate of $1.28 by $0.02. The firm had revenue of $17.39 billion for the quarter, compared to the consensus estimate of $17.11 billion. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the company posted $0.83 EPS. On average, equities research analysts expect that MetLife, Inc. will post $4.87 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 7th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.31%. MetLife’s dividend payout ratio (DPR) is presently 1,777.98%.
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A number of analysts have recently weighed in on MET shares. ValuEngine raised shares of MetLife from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. BidaskClub lowered shares of MetLife from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $63.00 price target (up from $61.00) on shares of MetLife in a research note on Wednesday, July 12th. FBR & Co raised shares of MetLife from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $54.00 to $58.00 in a research note on Thursday, May 25th. Finally, Zacks Investment Research raised shares of MetLife from a “sell” rating to a “hold” rating in a research note on Friday, May 5th. 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 issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $59.10.
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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