Wellington Shields Capital Management LLC Boosts Stake in MetLife, Inc. (NYSE:MET)
Wellington Shields Capital Management LLC boosted its position in MetLife, Inc. (NYSE:MET) by 40.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,650 shares of the financial services provider’s stock after buying an additional 12,084 shares during the period. Wellington Shields Capital Management LLC’s holdings in MetLife were worth $2,288,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of MetLife by 3,323.3% in the first quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock worth $3,616,895,000 after buying an additional 66,475,603 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of MetLife by 3.0% in the first quarter. Vanguard Group Inc. now owns 65,364,620 shares of the financial services provider’s stock worth $3,452,559,000 after buying an additional 1,885,246 shares in the last quarter. State Street Corp boosted its stake 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 worth $2,589,297,000 after buying an additional 680,903 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 worth $541,427,000 after buying an additional 664,918 shares in the last quarter. Finally, Morgan Stanley boosted its stake 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 worth $419,728,000 after buying an additional 404,104 shares in the last quarter. 74.83% of the stock is owned by institutional investors.
MetLife, Inc. (MET) traded up 0.15% during trading on Friday, reaching $46.81. The company had a trading volume of 6,437,764 shares. The firm has a 50-day moving average of $48.80 and a 200-day moving average of $47.31. MetLife, Inc. has a 1-year low of $35.64 and a 1-year high of $51.77. The stock 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 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 business had revenue of $17.39 billion for the quarter, compared to analyst estimates of $17.11 billion. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.83 EPS. On average, analysts anticipate that MetLife, Inc. will post $4.91 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Monday, August 7th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, August 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.42%. MetLife’s payout ratio is 1,777.98%.
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MET has been the subject of a number of research reports. TheStreet cut MetLife from a “b-” rating to a “c” rating in a research report on Tuesday, May 16th. Royal Bank Of Canada reissued a “buy” rating and issued a $62.00 price objective on shares of MetLife in a report on Wednesday, July 12th. Wells Fargo & Company reissued 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 decreased their price objective on MetLife from $60.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday. 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 assigned a strong buy rating to the stock. MetLife currently has an average 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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