Gateway Investment Advisers LLC Sells 1,410 Shares of MetLife, Inc. (NYSE:MET)
Gateway Investment Advisers LLC reduced its stake in shares of MetLife, Inc. (NYSE:MET) by 1.9% during the second quarter, Holdings Channel reports. The firm owned 72,231 shares of the financial services provider’s stock after selling 1,410 shares during the period. Gateway Investment Advisers LLC’s holdings in MetLife were worth $3,968,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of MET. Wealth Enhancement Advisory Services LLC bought a new stake in shares of MetLife during the first quarter valued at about $786,000. Graybill Bartz & Assoc Ltd. boosted its stake in MetLife by 1.6% in the first quarter. Graybill Bartz & Assoc Ltd. now owns 56,154 shares of the financial services provider’s stock valued at $2,966,000 after buying an additional 898 shares during the last quarter. Tompkins Financial Corp boosted its stake in MetLife by 40.8% in the first quarter. Tompkins Financial Corp now owns 7,789 shares of the financial services provider’s stock valued at $342,000 after buying an additional 2,258 shares during the last quarter. Baldwin Brothers Inc. MA boosted its stake in MetLife by 42,751.8% in the first quarter. Baldwin Brothers Inc. MA now owns 107,558 shares of the financial services provider’s stock valued at $5,681,000 after buying an additional 107,307 shares during the last quarter. Finally, Atria Investments LLC boosted its stake in MetLife by 2.6% in the first quarter. Atria Investments LLC now owns 18,914 shares of the financial services provider’s stock valued at $999,000 after buying an additional 488 shares during the last quarter. Institutional investors and hedge funds own 74.83% of the company’s stock.
Shares of MetLife, Inc. (NYSE:MET) traded up 0.15% during mid-day trading on Friday, reaching $46.81. The company’s stock had a trading volume of 6,437,764 shares. The firm has a market cap of $49.75 billion, a price-to-earnings ratio of 550.71 and a beta of 1.46. MetLife, Inc. has a 12 month low of $35.64 and a 12 month high of $51.77. The company’s 50-day moving average is $48.80 and its 200 day moving average is $47.31.
MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating the 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 analysts’ expectations of $17.11 billion. During the same quarter in the previous year, the company earned $0.83 earnings per share. MetLife’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities analysts anticipate that MetLife, Inc. will post $4.91 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Investors 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 is Thursday, August 3rd. MetLife’s dividend payout ratio is currently 1,777.98%.
MET has been the subject of several recent analyst reports. TheStreet cut MetLife from a “b-” rating to a “c” rating in a research note on Tuesday, May 16th. ValuEngine upgraded MetLife from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Citigroup Inc. set a $51.00 target price on MetLife and gave the stock a “sell” rating in a research note on Friday, July 7th. BidaskClub upgraded MetLife from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Finally, Wells Fargo & Company restated a “buy” rating on shares of MetLife in a research note on Thursday, May 4th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price 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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