14,200 Shares in MetLife, Inc. (MET) Purchased by Pacad Investment Ltd.
Pacad Investment Ltd. bought a new position in MetLife, Inc. (NYSE:MET) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 14,200 shares of the financial services provider’s stock, valued at approximately $780,000.
A number of other large investors have also recently added to or reduced their stakes in the business. Signature Estate & Investment Advisors LLC purchased a new position in MetLife during the first quarter worth about $107,000. First Personal Financial Services grew its position in MetLife by 11.5% during the first quarter. First Personal Financial Services now owns 2,588 shares of the financial services provider’s stock worth $137,000 after buying an additional 266 shares in the last quarter. Westside Investment Management Inc. grew its position in MetLife by 583.8% during the first quarter. Westside Investment Management Inc. now owns 2,694 shares of the financial services provider’s stock worth $140,000 after buying an additional 2,300 shares in the last quarter. Parallel Advisors LLC grew its position in MetLife by 50.7% during the first quarter. Parallel Advisors LLC now owns 2,748 shares of the financial services provider’s stock worth $143,000 after buying an additional 924 shares in the last quarter. Finally, CI Investments Inc. purchased a new position in MetLife during the first quarter worth about $158,000. 74.24% of the stock is owned by institutional investors and hedge funds.
Several research firms recently commented on MET. Royal Bank Of Canada restated a “buy” rating and set a $56.00 target price on shares of MetLife in a research report on Wednesday, September 6th. UBS AG restated a “neutral” rating and set a $49.00 target price (down from $57.00) on shares of MetLife in a research report on Friday, September 1st. FBR & Co restated a “buy” rating and set a $53.00 target price on shares of MetLife in a research report on Tuesday, August 29th. Credit Suisse Group restated a “neutral” rating and set a $53.00 target price (down from $64.00) on shares of MetLife in a research report on Monday, August 28th. Finally, ValuEngine cut MetLife from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 26th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $57.95.
Shares of MetLife, Inc. (NYSE:MET) opened at 48.54 on Friday. MetLife, Inc. has a 1-year low of $38.17 and a 1-year high of $51.77. The company has a market cap of $51.59 billion, a price-to-earnings ratio of 571.06 and a beta of 1.44. The stock has a 50 day moving average price of $47.80 and a 200-day moving average price of $47.29.
MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.02. The company had revenue of $17.39 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $0.83 earnings per share. Equities research analysts forecast that MetLife, Inc. will post $4.78 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Monday, August 7th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $1.60 annualized dividend and a yield of 3.30%. MetLife’s dividend payout ratio is currently 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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