American Asset Management Inc. Grows Position in MetLife, Inc. (MET)
American Asset Management Inc. increased its holdings in MetLife, Inc. (NYSE:MET) by 0.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,119 shares of the financial services provider’s stock after acquiring an additional 4 shares during the quarter. American Asset Management Inc.’s holdings in MetLife were worth $336,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in MET. Signature Estate & Investment Advisors LLC purchased a new stake in MetLife in the first quarter worth about $107,000. First Personal Financial Services lifted its stake in MetLife by 11.5% in the first quarter. First Personal Financial Services now owns 2,588 shares of the financial services provider’s stock worth $137,000 after acquiring an additional 266 shares during the period. Westside Investment Management Inc. lifted its stake in MetLife by 583.8% in the first quarter. Westside Investment Management Inc. now owns 2,694 shares of the financial services provider’s stock worth $140,000 after acquiring an additional 2,300 shares during the period. Parallel Advisors LLC lifted its stake in MetLife by 50.7% in the first quarter. Parallel Advisors LLC now owns 2,748 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 924 shares during the period. Finally, CI Investments Inc. purchased a new stake in MetLife in the first quarter worth about $158,000. 74.24% of the stock is owned by institutional investors.
MetLife, Inc. (MET) opened at 47.59 on Tuesday. The company has a 50 day moving average of $47.87 and a 200 day moving average of $47.25. The stock has a market capitalization of $50.58 billion, a price-to-earnings ratio of 559.88 and a beta of 1.44. MetLife, Inc. has a 12 month low of $38.17 and a 12 month high of $51.77.
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, topping the consensus estimate of $1.28 by $0.02. The firm had revenue of $17.39 billion during the quarter, compared to analysts’ expectations of $17.11 billion. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.83 earnings per share. On average, equities analysts predict that MetLife, Inc. will post $4.85 EPS for the current 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 paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend is Thursday, August 3rd. MetLife’s payout ratio is 1,777.98%.
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A number of analysts recently weighed in on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $56.00 price objective on shares of MetLife in a research note on Wednesday, September 6th. UBS AG reaffirmed a “neutral” rating and issued a $49.00 price objective (down from $57.00) on shares of MetLife in a research note on Friday, September 1st. FBR & Co reaffirmed a “buy” rating and issued a $53.00 price objective on shares of MetLife in a research note on Tuesday, August 29th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $53.00 price objective (down from $64.00) on shares of MetLife in a research note on Monday, August 28th. Finally, ValuEngine lowered shares of MetLife from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 26th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $57.95.
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, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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