MetLife, Inc. (MET) Position Held by CNA Financial Corp
CNA Financial Corp held its stake in MetLife, Inc. (NYSE:MET) during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 41,025 shares of the financial services provider’s stock at the end of the second quarter. CNA Financial Corp’s holdings in MetLife were worth $2,254,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its position in shares of MetLife by 3,323.3% during the 1st quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock valued at $3,616,895,000 after purchasing an additional 66,475,603 shares during the last quarter. Vanguard Group Inc. increased its position in shares of MetLife by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 65,364,620 shares of the financial services provider’s stock valued at $3,452,559,000 after purchasing an additional 1,885,246 shares during the last quarter. TD Asset Management Inc. increased its position in shares of MetLife by 47.7% during the 2nd quarter. TD Asset Management Inc. now owns 5,201,238 shares of the financial services provider’s stock valued at $285,756,000 after purchasing an additional 1,679,740 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of MetLife during the 1st quarter valued at about $82,954,000. Finally, Prudential Financial Inc. increased its position in shares of MetLife by 71.4% during the 2nd quarter. Prudential Financial Inc. now owns 3,672,729 shares of the financial services provider’s stock valued at $201,778,000 after purchasing an additional 1,529,570 shares during the last quarter. Institutional investors and hedge funds own 74.14% of the company’s stock.
Shares of MetLife, Inc. (MET) opened at 50.54 on Friday. The stock has a market cap of $53.72 billion, a PE ratio of 594.59 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 $47.30.
MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $17.11 billion. During the same period in the previous year, the firm posted $0.83 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts expect that MetLife, Inc. will post $4.77 earnings per share 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 paid a dividend of $0.40 per share. The ex-dividend date was Thursday, August 3rd. This represents a $1.60 annualized dividend and a yield of 3.17%. MetLife’s payout ratio is currently 1,777.98%.
Several brokerages have recently commented on MET. Citigroup Inc. set a $51.00 price objective on MetLife and gave the company a “sell” rating in a research report on Friday, July 7th. Wells Fargo & Company reiterated an “outperform” rating and set a $63.00 price objective (up from $61.00) on shares of MetLife in a research report on Wednesday, July 12th. Royal Bank Of Canada reiterated a “buy” rating and set a $62.00 price objective on shares of MetLife in a research report on Wednesday, July 12th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $59.00 price objective on shares of MetLife in a research report on Thursday, August 3rd. Finally, TheStreet upgraded MetLife from a “c” rating to a “b-” rating in a research report on Monday, July 24th. Two equities research 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 stock presently has an average rating of “Hold” and an average target price of $57.95.
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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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