Riverhead Capital Management LLC Sells 13,088 Shares of MetLife, Inc. (MET)
Riverhead Capital Management LLC lowered its position in shares of MetLife, Inc. (NYSE:MET) by 25.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,241 shares of the financial services provider’s stock after selling 13,088 shares during the quarter. Riverhead Capital Management LLC’s holdings in MetLife were worth $2,101,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in MET. Waldron LP boosted its position in MetLife by 5.1% during the 1st quarter. Waldron LP now owns 6,492 shares of the financial services provider’s stock worth $342,000 after acquiring an additional 315 shares during the last quarter. HPM Partners LLC boosted its position in MetLife by 1.2% during the 1st quarter. HPM Partners LLC now owns 31,827 shares of the financial services provider’s stock worth $1,681,000 after acquiring an additional 384 shares during the last quarter. Nuance Investments LLC acquired a new position in MetLife during the 1st quarter worth approximately $2,684,000. Altfest L J & Co. Inc. acquired a new position in MetLife during the 1st quarter worth approximately $1,777,000. Finally, Capital Management Associates NY boosted its position in MetLife by 70.9% during the 1st quarter. Capital Management Associates NY now owns 10,850 shares of the financial services provider’s stock worth $573,000 after acquiring an additional 4,500 shares during the last quarter. 74.14% of the stock is owned by hedge funds and other institutional investors.
Shares of MetLife, Inc. (MET) opened at 50.54 on Friday. MetLife, Inc. has a one year low of $38.17 and a one year high of $51.77. The firm’s 50-day moving average price is $47.80 and its 200 day moving average price is $47.30. The firm has a market cap of $53.72 billion, a P/E ratio of 594.59 and a beta of 1.44.
MetLife (NYSE:MET) last posted 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 business had revenue of $17.39 billion for the quarter, compared to analysts’ expectations of $17.11 billion. During the same quarter in the previous year, the firm earned $0.83 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. Analysts predict that MetLife, Inc. will post $4.77 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th were given a $0.40 dividend. The ex-dividend date was Thursday, August 3rd. This represents a $1.60 annualized dividend and a yield of 3.17%. MetLife’s dividend payout ratio is currently 1,777.98%.
A number of research firms have weighed in on MET. Royal Bank Of Canada reaffirmed a “buy” rating and set a $56.00 price target on shares of MetLife in a research report on Wednesday, September 6th. UBS AG reaffirmed a “neutral” rating and set a $49.00 price target (down previously from $57.00) on shares of MetLife in a research report on Friday, September 1st. FBR & Co reaffirmed a “buy” rating and set a $53.00 price target on shares of MetLife in a research report on Tuesday, August 29th. Credit Suisse Group reaffirmed a “neutral” rating and set a $53.00 price target (down previously from $64.00) on shares of MetLife in a research report on Monday, August 28th. Finally, ValuEngine downgraded MetLife from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 26th. Two research 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’s stock. The company currently has an average rating of “Hold” and a consensus price target of $57.95.
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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