MetLife, Inc. (MET) Position Trimmed by Commerce Bank
Commerce Bank trimmed its holdings in shares of MetLife, Inc. (NYSE:MET) by 6.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,939 shares of the financial services provider’s stock after selling 2,132 shares during the period. Commerce Bank’s holdings in MetLife were worth $1,645,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Signature Estate & Investment Advisors LLC acquired a new position in MetLife during the first quarter valued at $107,000. First Personal Financial Services increased its position in MetLife by 11.5% in the 1st quarter. First Personal Financial Services now owns 2,588 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 266 shares during the last quarter. Westside Investment Management Inc. increased its position in MetLife by 583.8% in the 1st quarter. Westside Investment Management Inc. now owns 2,694 shares of the financial services provider’s stock worth $140,000 after purchasing an additional 2,300 shares during the last quarter. Parallel Advisors LLC increased its position in MetLife by 50.7% in the 1st quarter. Parallel Advisors LLC now owns 2,748 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 924 shares during the last quarter. Finally, CI Investments Inc. acquired a new position in MetLife in the 1st quarter worth about $158,000. 74.24% of the stock is currently owned by hedge funds and other institutional investors.
MET has been the topic of several research reports. TheStreet raised MetLife from a “c” rating to a “b-” rating in a research report on Monday, July 24th. Wells Fargo & Company reaffirmed a “buy” rating on shares of MetLife in a research report on Monday, August 7th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $59.00 target price on shares of MetLife in a research report on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $62.00 target price on shares of MetLife in a research report on Wednesday, July 12th. Finally, Argus dropped their target price on MetLife from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $57.95.
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Shares of MetLife, Inc. (NYSE MET) opened at 48.54 on Friday. The company has a market cap of $51.59 billion, a P/E ratio of 571.06 and a beta of 1.44. MetLife, Inc. has a 12 month low of $38.17 and a 12 month high of $51.77. The firm has a 50 day moving average price of $47.80 and a 200-day moving average price of $47.29.
MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.02. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The company had revenue of $17.39 billion during the quarter, compared to analysts’ expectations of $17.11 billion. During the same quarter in the previous year, the company posted $0.83 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. Analysts anticipate that MetLife, Inc. will post $4.78 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Monday, August 7th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date was Thursday, August 3rd. MetLife’s dividend payout ratio is presently 1,777.98%.
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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