MetLife, Inc. (MET) Stake Held by E&G Advisors LP
E&G Advisors LP continued to hold its position in shares of MetLife, Inc. (NYSE:MET) during the second quarter, Holdings Channel reports. The firm owned 5,571 shares of the financial services provider’s stock at the end of the second quarter. E&G Advisors LP’s holdings in MetLife were worth $306,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its position in 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 during the period. Vanguard Group Inc. increased its position in 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 during the period. Renaissance Technologies LLC bought a new position in MetLife during the first quarter valued at approximately $82,954,000. APG Asset Management N.V. increased its position in MetLife by 53.8% in the first quarter. APG Asset Management N.V. now owns 3,902,274 shares of the financial services provider’s stock valued at $206,118,000 after buying an additional 1,365,018 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in MetLife by 115.5% in the first quarter. Canada Pension Plan Investment Board now owns 2,367,139 shares of the financial services provider’s stock valued at $125,032,000 after buying an additional 1,268,600 shares during the period. 74.83% of the stock is currently owned by institutional investors and hedge funds.
Shares of MetLife, Inc. (NYSE:MET) traded down 2.46% during mid-day trading on Thursday, reaching $47.12. The company had a trading volume of 4,197,456 shares. The company has a market capitalization of $50.08 billion, a price-to-earnings ratio of 554.35 and a beta of 1.46. MetLife, Inc. has a 52 week low of $35.21 and a 52 week high of $51.77. The stock has a 50 day moving average of $48.79 and a 200-day moving average of $47.33.
MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.02. The company had revenue of $17.39 billion for 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 quarter in the prior year, the business posted $0.83 earnings per share. On average, analysts expect 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 given a dividend of $0.40 per share. The ex-dividend date is Thursday, August 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.31%. MetLife’s dividend payout ratio is currently 1,777.98%.
MET has been the topic of several recent research reports. Wells Fargo & Company reaffirmed a “buy” rating on shares of MetLife in a research note on Tuesday, April 18th. Zacks Investment Research downgraded MetLife from a “buy” rating to a “hold” rating in a research note on Thursday, April 20th. TheStreet downgraded MetLife from a “b-” rating to a “c” rating in a research note on Tuesday, May 16th. FBR & Co raised MetLife from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $54.00 to $58.00 in a research note on Thursday, May 25th. Finally, BidaskClub raised MetLife from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average 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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