Burns J W & Co. Inc. NY Has $1.60 Million Position in MetLife, Inc. (MET)
Burns J W & Co. Inc. NY boosted its stake in shares of MetLife, Inc. (NYSE:MET) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,130 shares of the financial services provider’s stock after buying an additional 690 shares during the period. Burns J W & Co. Inc. NY’s holdings in MetLife were worth $1,600,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in MET. Alpha Windward LLC raised its stake in MetLife by 0.9% in the first quarter. Alpha Windward LLC now owns 3,297 shares of the financial services provider’s stock valued at $174,000 after buying an additional 29 shares during the last quarter. Peoples Bank OH raised its stake in MetLife by 0.5% in the first quarter. Peoples Bank OH now owns 10,529 shares of the financial services provider’s stock valued at $556,000 after buying an additional 50 shares during the last quarter. Chemung Canal Trust Co. raised its stake in MetLife by 1.8% in the first quarter. Chemung Canal Trust Co. now owns 4,898 shares of the financial services provider’s stock valued at $259,000 after buying an additional 85 shares during the last quarter. Holderness Investments Co. raised its stake in MetLife by 1.9% in the first quarter. Holderness Investments Co. now owns 5,379 shares of the financial services provider’s stock valued at $284,000 after buying an additional 99 shares during the last quarter. Finally, Pettyjohn Wood & White Inc. raised its stake in MetLife by 1.5% in the first quarter. Pettyjohn Wood & White Inc. now owns 6,608 shares of the financial services provider’s stock valued at $349,000 after buying an additional 100 shares during the last quarter. 74.83% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MetLife, Inc. (MET) traded down 3.29% during trading on Thursday, hitting $46.72. 2,870,377 shares of the company were exchanged. The stock has a market cap of $49.66 billion, a P/E ratio of 549.65 and a beta of 1.46. The company’s 50-day moving average price is $48.79 and its 200 day moving average price is $47.33. MetLife, Inc. has a 12 month low of $35.21 and a 12 month high of $51.77.
MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.02. The company 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% compared to the same quarter last year. During the same period last year, the business earned $0.83 EPS. On average, equities analysts predict that MetLife, Inc. will post $4.87 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Thursday, August 3rd. MetLife’s dividend payout ratio is currently 1,777.98%.
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Several research firms have recently commented on MET. TheStreet lowered shares of MetLife from a “b-” rating to a “c” rating in a research report on Tuesday, May 16th. Wells Fargo & Company reaffirmed a “buy” rating on shares of MetLife in a research report on Saturday, July 1st. Argus reduced their price target on shares of MetLife from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday. BidaskClub raised shares of MetLife from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Zacks Investment Research lowered shares of MetLife from a “hold” rating to a “sell” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average 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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