AGF Investments America Inc. Has $2.03 Million Stake in MetLife, Inc. (MET)
AGF Investments America Inc. lifted its stake in shares of MetLife, Inc. (NYSE:MET) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,000 shares of the financial services provider’s stock after purchasing an additional 1,294 shares during the quarter. AGF Investments America Inc.’s holdings in MetLife were worth $2,033,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of MetLife by 3,323.3% during the first quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock worth $3,616,895,000 after purchasing an additional 66,475,603 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of MetLife by 3.0% during 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 purchasing an additional 1,885,246 shares during the last quarter. State Street Corp raised its stake in shares of MetLife by 1.4% during 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 purchasing an additional 680,903 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of MetLife by 6.9% during 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 purchasing an additional 664,918 shares during the last quarter. Finally, Morgan Stanley grew its holdings in MetLife by 5.4% during the first quarter. Morgan Stanley now owns 7,946,397 shares of the financial services provider’s stock worth $419,728,000 after acquiring an additional 404,104 shares during the period. Institutional investors and hedge funds own 74.14% of the company’s stock.
A number of brokerages recently weighed in on MET. Royal Bank Of Canada reaffirmed a “buy” rating and set a $56.00 price objective on shares of MetLife in a report on Wednesday, September 6th. UBS AG reaffirmed a “neutral” rating and set a $49.00 price objective (down previously from $57.00) on shares of MetLife in a report on Friday, September 1st. FBR & Co reaffirmed a “buy” rating and set a $53.00 price objective on shares of MetLife in a report on Tuesday, August 29th. Credit Suisse Group reaffirmed a “neutral” rating and set a $53.00 price objective (down previously from $64.00) on shares of MetLife in a report on Monday, August 28th. Finally, ValuEngine lowered MetLife from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 26th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $57.95.
Shares of MetLife, Inc. (NYSE:MET) opened at 49.47 on Wednesday. MetLife, Inc. has a 12-month low of $38.17 and a 12-month high of $51.77. The firm has a market cap of $52.58 billion, a price-to-earnings ratio of 582.00 and a beta of 1.44. The firm has a 50-day moving average price of $47.80 and a 200 day moving average price of $47.30.
MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, topping the Zacks’ consensus estimate 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 for the quarter, compared to the consensus estimate of $17.11 billion. During the same quarter in the previous year, the business earned $0.83 EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities research 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 paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Thursday, August 3rd. MetLife’s dividend payout ratio is presently 1,777.98%.
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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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