First Midwest Bank Trust Division Lowers Stake in MetLife, Inc. (NYSE:MET)
First Midwest Bank Trust Division reduced its stake in MetLife, Inc. (NYSE:MET) by 34.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,677 shares of the financial services provider’s stock after selling 10,283 shares during the period. First Midwest Bank Trust Division’s holdings in MetLife were worth $1,081,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of MET. BlackRock Inc. boosted its stake in shares of 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 in the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 in the last quarter. State Street Corp boosted its stake in shares of 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 in the last quarter. Geode Capital Management LLC boosted 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 valued at $541,427,000 after buying an additional 664,918 shares in the last quarter. Finally, Morgan Stanley boosted 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 valued at $419,728,000 after buying an additional 404,104 shares in the last quarter. Institutional investors and hedge funds own 74.83% of the company’s stock.
Shares of MetLife, Inc. (MET) traded down 2.50% on Thursday, reaching $47.10. The company had a trading volume of 4,200,766 shares. The company has a 50 day moving average of $48.79 and a 200-day moving average of $47.33. The company has a market capitalization of $50.06 billion, a P/E ratio of 554.12 and a beta of 1.46. MetLife, Inc. has a 52 week low of $35.21 and a 52 week high of $51.77.
MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.02. The company had revenue of $17.39 billion during the quarter, compared to the consensus estimate of $17.11 billion. MetLife had a return on equity of 8.51% and a net margin of 0.30%. MetLife’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.83 EPS. Analysts predict that MetLife, Inc. will post $4.87 earnings per share for the current fiscal year.
The firm also recently declared 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 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Thursday, August 3rd. MetLife’s dividend payout ratio (DPR) is 1,777.98%.
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Several equities research analysts have weighed in on MET shares. TheStreet cut MetLife from a “b-” rating to a “c” rating in a report on Tuesday, May 16th. Royal Bank Of Canada reiterated a “buy” rating and issued a $62.00 target price on shares of MetLife in a report on Wednesday, July 12th. Wells Fargo & Company reiterated a “buy” rating on shares of MetLife in a report on Thursday, May 4th. Zacks Investment Research upgraded MetLife from a “sell” rating to a “hold” rating in a report on Friday, May 5th. Finally, Argus lowered their target price on MetLife from $60.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target 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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