Lodestar Investment Counsel LLC IL Has $20.33 Million Position in MetLife, Inc. (MET)
Lodestar Investment Counsel LLC IL reduced its stake in shares of MetLife, Inc. (NYSE:MET) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 370,025 shares of the financial services provider’s stock after selling 5,740 shares during the period. MetLife comprises 2.6% of Lodestar Investment Counsel LLC IL’s portfolio, making the stock its 10th largest position. Lodestar Investment Counsel LLC IL’s holdings in MetLife were worth $20,329,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the stock. Signature Estate & Investment Advisors LLC acquired a new stake in MetLife during the first quarter valued at about $107,000. First Personal Financial Services raised its stake in MetLife by 11.5% in the first quarter. First Personal Financial Services now owns 2,588 shares of the financial services provider’s stock valued at $137,000 after buying an additional 266 shares during the period. Westside Investment Management Inc. raised its stake in MetLife by 583.8% in the first quarter. Westside Investment Management Inc. now owns 2,694 shares of the financial services provider’s stock valued at $140,000 after buying an additional 2,300 shares during the period. Parallel Advisors LLC raised its stake in MetLife by 50.7% in the first quarter. Parallel Advisors LLC now owns 2,748 shares of the financial services provider’s stock valued at $143,000 after buying an additional 924 shares during the period. Finally, First Mercantile Trust Co. acquired a new stake in MetLife during the first quarter valued at about $149,000. 74.83% of the stock is currently owned by institutional investors.
MetLife, Inc. (MET) traded up 0.15% during trading on Friday, reaching $46.81. 6,437,764 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $48.80 and its 200-day moving average is $47.31. The company has a market cap of $49.75 billion, a P/E ratio of 550.71 and a beta of 1.46. MetLife, Inc. has a 12-month low of $35.64 and a 12-month high of $51.77.
MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.02. The firm had revenue of $17.39 billion for the quarter, compared to analysts’ expectations of $17.11 billion. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 earnings per share. Analysts predict that MetLife, Inc. will post $4.91 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 7th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend is Thursday, August 3rd. MetLife’s payout ratio is currently 1,777.98%.
MET has been the topic of several research reports. TheStreet raised shares of MetLife from a “c” rating to a “b-” rating in a research report on Monday, July 24th. Royal Bank Of Canada reissued a “buy” rating and issued a $62.00 price target on shares of MetLife in a research report on Wednesday, July 12th. Wells Fargo & Company reissued a “buy” rating on shares of MetLife in a research report on Saturday, July 1st. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $59.00 price target on shares of MetLife in a research report on Thursday, August 3rd. Finally, Argus lowered their price target on shares of MetLife from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $59.17.
MetLife Company Profile
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; Brighthouse Financial, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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