Banced Corp Acquires 234 Shares of MetLife, Inc. (MET)
Banced Corp raised its position in shares of MetLife, Inc. (NYSE:MET) by 3.5% during the second quarter, Holdings Channel reports. The institutional investor owned 6,848 shares of the financial services provider’s stock after buying an additional 234 shares during the period. Banced Corp’s holdings in MetLife were worth $376,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Signature Estate & Investment Advisors LLC purchased a new position in shares of MetLife during the first quarter valued at approximately $107,000. First Personal Financial Services increased its position in shares of MetLife by 11.5% in the first quarter. First Personal Financial Services now owns 2,588 shares of the financial services provider’s stock valued at $137,000 after buying an additional 266 shares during the last quarter. Westside Investment Management Inc. increased its position in shares of MetLife by 583.8% in the first quarter. Westside Investment Management Inc. now owns 2,694 shares of the financial services provider’s stock valued at $140,000 after buying an additional 2,300 shares during the last quarter. Parallel Advisors LLC increased its position in shares of MetLife by 50.7% in the first quarter. Parallel Advisors LLC now owns 2,748 shares of the financial services provider’s stock valued at $143,000 after buying an additional 924 shares during the last quarter. Finally, First Mercantile Trust Co. purchased a new position in shares of MetLife during the first quarter valued at approximately $149,000. Institutional investors and hedge funds own 74.83% of the company’s stock.
Shares of MetLife, Inc. (MET) traded up 0.15% during trading on Friday, hitting $46.81. 6,437,764 shares of the company traded hands. The company has a 50 day moving average price of $48.80 and a 200 day moving average price of $47.31. MetLife, Inc. has a 52 week low of $35.64 and a 52 week high of $51.77. The company has a market capitalization of $49.75 billion, a price-to-earnings ratio of 550.71 and a beta of 1.46.
MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 net margin of 0.30% and a return on equity of 8.51%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.83 EPS. On average, analysts expect that MetLife, Inc. will post $4.91 earnings per share for the current year.
The firm also recently announced 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. This represents a $1.60 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Thursday, August 3rd. MetLife’s dividend payout ratio (DPR) is 1,777.98%.
Several research analysts have commented on MET shares. TheStreet downgraded shares of MetLife from a “b-” rating to a “c” rating in a report on Tuesday, May 16th. ValuEngine raised shares of MetLife from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Citigroup Inc. set a $51.00 price objective on shares of MetLife and gave the stock a “sell” rating in a report on Friday, July 7th. BidaskClub raised shares of MetLife from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of MetLife in a report on Thursday, May 4th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $59.17.
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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