Artemis Investment Management LLP Sells 778,285 Shares of MetLife, Inc. (MET)
Artemis Investment Management LLP lowered its holdings in shares of MetLife, Inc. (NYSE:MET) by 54.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 642,133 shares of the financial services provider’s stock after selling 778,285 shares during the period. Artemis Investment Management LLP owned 0.06% of MetLife worth $35,282,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Signature Estate & Investment Advisors LLC acquired a new stake in MetLife during the 1st quarter worth $107,000. First Personal Financial Services boosted its stake in MetLife by 11.5% during 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 period. Westside Investment Management Inc. boosted its stake in MetLife by 583.8% during 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 period. Parallel Advisors LLC boosted its stake in MetLife by 50.7% during 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 period. Finally, First Mercantile Trust Co. boosted its stake in MetLife by 3.4% during the 2nd quarter. First Mercantile Trust Co. now owns 2,926 shares of the financial services provider’s stock worth $161,000 after purchasing an additional 97 shares during the period. Hedge funds and other institutional investors own 74.24% of the company’s stock.
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Several analysts have recently commented on MET shares. Langen Mcalenn restated a “buy” rating on shares of MetLife in a research note on Wednesday, August 16th. Wells Fargo & Company restated a “buy” rating on shares of MetLife in a research note on Monday, August 7th. BidaskClub upgraded shares of MetLife from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $59.00 target price on shares of MetLife in a research note on Thursday, August 3rd. Finally, Zacks Investment Research cut shares of MetLife from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $57.95.
Shares of MetLife, Inc. (MET) opened at 48.54 on Friday. The stock’s 50 day moving average is $47.80 and its 200-day moving average is $47.29. The stock has a market capitalization of $51.59 billion, a P/E ratio of 571.06 and a beta of 1.44. MetLife, Inc. has a one year low of $38.17 and a one year high of $51.77.
MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.02. The firm had revenue of $17.39 billion for the quarter, compared to the consensus estimate of $17.11 billion. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.83 EPS. On average, equities research analysts expect that MetLife, Inc. will post $4.78 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th were issued a dividend of $0.40 per share. 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 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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