Hexavest Inc. Takes Position in MetLife, Inc. (NYSE:MET)
Hexavest Inc. acquired a new position in MetLife, Inc. (NYSE:MET) during the second quarter, according to its most recent filing with the SEC. The institutional investor acquired 451,097 shares of the financial services provider’s stock, valued at approximately $24,783,000.
A number of other institutional investors also recently added to or reduced their stakes in the company. Signature Estate & Investment Advisors LLC bought a new position in MetLife during the first quarter worth approximately $107,000. First Personal Financial Services boosted its position in 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 during the period. Westside Investment Management Inc. boosted its position in 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 during the period. Parallel Advisors LLC boosted its position in 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 during the period. Finally, First Mercantile Trust Co. bought a new position in MetLife during the first quarter worth approximately $149,000. 74.83% of the stock is owned by hedge funds and other institutional investors.
MetLife, Inc. (NYSE MET) traded down 3.302% during midday trading on Thursday, reaching $46.715. 2,870,583 shares of the company traded hands. The firm has a market capitalization of $49.65 billion, a price-to-earnings ratio of 549.588 and a beta of 1.46. MetLife, Inc. has a one year low of $35.21 and a one year high of $51.77. The firm has a 50-day moving average price of $48.79 and a 200-day moving average price of $47.33.
MetLife (NYSE:MET) last issued 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. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The business had revenue of $17.39 billion during the quarter, compared to the consensus estimate of $17.11 billion. During the same quarter last year, the company earned $0.83 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. Equities analysts predict that MetLife, Inc. will post $4.87 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th will be paid a $0.40 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $1.60 annualized dividend and a yield of 3.31%. MetLife’s dividend payout ratio is currently 1,777.98%.
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A number of research firms have commented on MET. BidaskClub raised shares of MetLife from a “sell” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research cut shares of MetLife from a “hold” rating to a “sell” rating in a research report on Wednesday. Wells Fargo & Company reissued a “buy” rating on shares of MetLife in a research report on Saturday, July 1st. J P Morgan Chase & Co assumed coverage on shares of MetLife in a research report on Monday, July 24th. They issued a “hold” rating and a $78.00 target price for the company. Finally, TheStreet raised shares of MetLife from a “c” rating to a “b-” rating in a research report on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. MetLife has a consensus 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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