Regentatlantic Capital LLC Sells 14,859 Shares of MetLife, Inc. (NYSE:MET)
Regentatlantic Capital LLC lowered its stake in shares of MetLife, Inc. (NYSE:MET) by 9.5% during the second quarter, Holdings Channel reports. The firm owned 141,813 shares of the financial services provider’s stock after selling 14,859 shares during the period. Regentatlantic Capital LLC’s holdings in MetLife were worth $7,791,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in MET. Wallington Asset Management LLC boosted its stake in shares of MetLife by 1.7% in the second quarter. Wallington Asset Management LLC now owns 101,559 shares of the financial services provider’s stock valued at $5,580,000 after buying an additional 1,720 shares in the last quarter. Gilbert & Cook Inc. bought a new stake in shares of MetLife during the second quarter valued at $211,000. Quantitative Systematic Strategies LLC boosted its stake in shares of MetLife by 8.4% in the second quarter. Quantitative Systematic Strategies LLC now owns 51,269 shares of the financial services provider’s stock valued at $2,823,000 after buying an additional 3,984 shares in the last quarter. Private Bank & Trust Co. boosted its stake in shares of MetLife by 31.9% in the second quarter. Private Bank & Trust Co. now owns 15,675 shares of the financial services provider’s stock valued at $861,000 after buying an additional 3,791 shares in the last quarter. Finally, APG Asset Management N.V. boosted its stake in shares of MetLife by 0.5% in the second quarter. APG Asset Management N.V. now owns 3,922,374 shares of the financial services provider’s stock valued at $215,495,000 after buying an additional 20,100 shares in the last quarter. 74.83% of the stock is currently owned by institutional investors and hedge funds.
MetLife, Inc. (NYSE MET) traded down 0.075% on Friday, hitting $46.705. 3,061,685 shares of the company traded hands. The firm has a market capitalization of $49.64 billion, a PE ratio of 549.471 and a beta of 1.46. The firm’s 50 day moving average price is $48.79 and its 200 day moving average price is $47.32. MetLife, Inc. has a 1-year low of $35.21 and a 1-year high of $51.77.
MetLife (NYSE:MET) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, beating the Thomson Reuters’ 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 return on equity of 8.51% and a net margin of 0.30%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS. Equities research analysts predict that MetLife, Inc. will post $4.91 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 7th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend is Thursday, August 3rd. MetLife’s dividend payout ratio is currently 1,777.98%.
MET has been the topic of several analyst reports. Wells Fargo & Company reiterated a “buy” rating on shares of MetLife in a research report on Tuesday, April 18th. Zacks Investment Research cut MetLife from a “buy” rating to a “hold” rating in a research report on Thursday, April 20th. TheStreet cut MetLife from a “b-” rating to a “c” rating in a research report on Tuesday, May 16th. FBR & Co upgraded MetLife from a “market perform” rating to an “outperform” rating and upped their price target for the company from $54.00 to $58.00 in a research report on Thursday, May 25th. Finally, BidaskClub upgraded MetLife from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $59.17.
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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