6 Meridian reduced its holdings in shares of Metlife Inc (NYSE:MET) by 0.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 346,820 shares of the financial services provider’s stock after selling 566 shares during the quarter. Metlife makes up about 1.6% of 6 Meridian’s holdings, making the stock its 15th largest position. 6 Meridian’s holdings in Metlife were worth $16,356,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Regentatlantic Capital LLC lifted its holdings in Metlife by 38.0% during the third quarter. Regentatlantic Capital LLC now owns 226,206 shares of the financial services provider’s stock worth $10,668,000 after acquiring an additional 62,294 shares during the period. Patten Group Inc. lifted its holdings in Metlife by 52.4% during the third quarter. Patten Group Inc. now owns 10,200 shares of the financial services provider’s stock worth $481,000 after acquiring an additional 3,505 shares during the period. Cascade Investment Advisors Inc. lifted its holdings in Metlife by 1.0% during the third quarter. Cascade Investment Advisors Inc. now owns 31,600 shares of the financial services provider’s stock worth $1,490,000 after acquiring an additional 322 shares during the period. One Capital Management LLC lifted its holdings in Metlife by 1.6% during the third quarter. One Capital Management LLC now owns 54,272 shares of the financial services provider’s stock worth $2,559,000 after acquiring an additional 875 shares during the period. Finally, St. Johns Investment Management Company LLC lifted its holdings in Metlife by 4.8% during the third quarter. St. Johns Investment Management Company LLC now owns 10,693 shares of the financial services provider’s stock worth $504,000 after acquiring an additional 492 shares during the period. Institutional investors and hedge funds own 75.60% of the company’s stock.
A number of research firms have issued reports on MET. Wells Fargo & Co raised their target price on Metlife from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, July 11th. Citigroup decreased their target price on Metlife from $42.00 to $41.00 and set a “sell” rating for the company in a research report on Friday, September 13th. UBS Group raised their target price on Metlife from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Morgan Stanley decreased their target price on Metlife from $54.00 to $53.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 20th. Finally, Zacks Investment Research raised Metlife from a “sell” rating to a “hold” rating and set a $51.00 target price for the company in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Metlife presently has an average rating of “Hold” and a consensus price target of $49.51.
NYSE:MET opened at $46.51 on Wednesday. The company has a market capitalization of $43.58 billion, a P/E ratio of 8.33, a P/E/G ratio of 0.98 and a beta of 1.12. Metlife Inc has a 1 year low of $37.76 and a 1 year high of $51.16. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.14 and a quick ratio of 0.14. The business has a fifty day simple moving average of $46.36 and a two-hundred day simple moving average of $47.23.
Metlife (NYSE:MET) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.07. The company had revenue of $16.45 billion during the quarter, compared to analysts’ expectations of $16.43 billion. Metlife had a return on equity of 9.75% and a net margin of 9.28%. The firm’s quarterly revenue was down 22.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.30 earnings per share. As a group, analysts anticipate that Metlife Inc will post 5.67 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 5th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.78%. Metlife’s dividend payout ratio (DPR) is presently 32.65%.
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short- and long-term disability, individual disability, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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