Russell Investments Group Ltd. Sells 101,073 Shares of MetLife, Inc. (MET)
Russell Investments Group Ltd. cut its position in MetLife, Inc. (NYSE:MET) by 8.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,094,749 shares of the financial services provider’s stock after selling 101,073 shares during the period. Russell Investments Group Ltd.’s holdings in MetLife were worth $60,152,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of MET. Atria Investments LLC boosted its position in shares of MetLife by 2.6% in the first quarter. Atria Investments LLC now owns 18,914 shares of the financial services provider’s stock worth $999,000 after buying an additional 488 shares in the last quarter. Prospera Financial Services Inc acquired a new position in shares of MetLife during the first quarter worth about $1,525,000. Tompkins Financial Corp boosted its position in shares of MetLife by 40.8% in the first quarter. Tompkins Financial Corp now owns 7,789 shares of the financial services provider’s stock worth $342,000 after buying an additional 2,258 shares in the last quarter. Aberdeen Asset Management PLC UK boosted its position in shares of MetLife by 1.3% in the first quarter. Aberdeen Asset Management PLC UK now owns 469,645 shares of the financial services provider’s stock worth $24,807,000 after buying an additional 6,188 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in MetLife by 4.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 393,208 shares of the financial services provider’s stock worth $20,769,000 after buying an additional 15,716 shares during the period. 74.83% of the stock is currently owned by hedge funds and other institutional investors.
MetLife, Inc. (MET) traded down 0.075% on Friday, hitting $46.705. 3,061,785 shares of the company were exchanged. MetLife, Inc. has a one year low of $35.21 and a one year high of $51.77. The firm has a market cap of $49.64 billion, a price-to-earnings ratio of 549.471 and a beta of 1.46. The stock has a 50 day moving average price of $48.79 and a 200 day moving average price of $47.32.
MetLife (NYSE:MET) last announced its 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. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The company had revenue of $17.39 billion for the quarter, compared to analyst estimates of $17.11 billion. During the same period in the prior year, the business earned $0.83 earnings per share. MetLife’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities research analysts forecast 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. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.42%. MetLife’s payout ratio is 1,777.98%.
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MET has been the topic of a number of recent analyst reports. TheStreet cut MetLife from a “b-” rating to a “c” rating in a report on Tuesday, May 16th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $62.00 price target on shares of MetLife in a report on Wednesday, July 12th. Wells Fargo & Company reaffirmed a “buy” rating on shares of MetLife in a report on Thursday, May 4th. Zacks Investment Research raised MetLife from a “sell” rating to a “hold” rating in a report on Friday, May 5th. Finally, Argus cut their price target on MetLife from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price 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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