MetLife, Inc. (NYSE:MET) Stake Reduced by Narwhal Capital Management
Narwhal Capital Management decreased its stake in MetLife, Inc. (NYSE:MET) by 0.8% during the second quarter, Holdings Channel reports. The fund owned 58,875 shares of the financial services provider’s stock after selling 500 shares during the period. Narwhal Capital Management’s holdings in MetLife were worth $3,235,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in MET. BlackRock Inc. boosted its stake 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 last quarter. Vanguard Group Inc. boosted its stake 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 last quarter. State Street Corp increased its position in shares of MetLife by 1.4% in the first quarter. State Street Corp now owns 49,020,964 shares of the financial services provider’s stock valued at $2,589,297,000 after buying an additional 680,903 shares during the period. Geode Capital Management LLC increased its position in shares of MetLife by 6.9% in the first quarter. Geode Capital Management LLC now owns 10,265,096 shares of the financial services provider’s stock valued at $541,427,000 after buying an additional 664,918 shares during the period. Finally, Morgan Stanley increased its position in shares of MetLife by 5.4% in the first quarter. Morgan Stanley now owns 7,946,397 shares of the financial services provider’s stock valued at $419,728,000 after buying an additional 404,104 shares during the period. Hedge funds and other institutional investors own 74.83% of the company’s stock.
MetLife, Inc. (NYSE MET) traded up 0.15% during mid-day trading on Friday, reaching $46.81. The company had a trading volume of 6,437,764 shares. MetLife, Inc. has a 12-month low of $35.64 and a 12-month high of $51.77. The firm has a market capitalization of $49.75 billion, a price-to-earnings ratio of 550.71 and a beta of 1.46. The firm has a 50-day moving average price of $48.80 and a 200 day moving average price of $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. Analysts expect 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 of this dividend is Thursday, August 3rd. MetLife’s dividend payout ratio is currently 1,777.98%.
Several research analysts have recently issued reports on MET shares. TheStreet downgraded shares of MetLife from a “b-” rating to a “c” rating in a report on Tuesday, May 16th. Royal Bank Of Canada reiterated a “buy” rating and set a $62.00 price target on shares of MetLife in a report on Wednesday, July 12th. Wells Fargo & Company reiterated a “buy” rating on shares of MetLife in a report on Thursday, May 4th. Zacks Investment Research upgraded shares of MetLife from a “sell” rating to a “hold” rating in a report on Friday, May 5th. Finally, Argus lowered their price target on shares of MetLife from $60.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. MetLife has an average rating of “Hold” and a consensus 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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