Jennison Associates LLC Purchases 54,299 Shares of MetLife, Inc. (MET)
Jennison Associates LLC boosted its position in MetLife, Inc. (NYSE:MET) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,326,578 shares of the financial services provider’s stock after purchasing an additional 54,299 shares during the quarter. Jennison Associates LLC owned about 0.31% of MetLife worth $182,762,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of MET. BlackRock Inc. lifted its position in MetLife by 3,323.3% in 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. lifted its position in MetLife by 3.0% in 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. lifted its position in MetLife by 47.7% in 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 stake in MetLife in the 1st quarter valued at about $82,954,000. Finally, APG Asset Management N.V. lifted its position in MetLife by 53.8% in the 1st quarter. APG Asset Management N.V. now owns 3,902,274 shares of the financial services provider’s stock valued at $206,118,000 after purchasing an additional 1,365,018 shares during the last quarter. Hedge funds and other institutional investors own 74.24% of the company’s stock.
Several brokerages recently weighed in on MET. Citigroup Inc. set a $51.00 price objective on shares of MetLife and gave the company a “sell” rating in a research report on Friday, July 7th. Wells Fargo & Company reiterated an “outperform” rating and issued 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 issued 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 issued a $59.00 price objective on shares of MetLife in a research report on Thursday, August 3rd. Finally, TheStreet upgraded shares of 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 company has a consensus rating of “Hold” and an average price target of $58.38.
MetLife, Inc. (MET) opened at 47.31 on Wednesday. The firm has a market cap of $50.28 billion, a PE ratio of 556.59 and a beta of 1.44. MetLife, Inc. has a 52 week low of $42.65 and a 52 week high of $52.07. The stock has a 50 day moving average of $48.02 and a 200 day moving average of $47.25.
MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.02. The business had revenue of $17.39 billion for the quarter, compared to the consensus estimate of $17.11 billion. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 EPS. Analysts anticipate that MetLife, Inc. will post $4.86 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Monday, August 7th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, August 3rd. This represents a $1.60 annualized dividend and a yield of 3.38%. MetLife’s dividend payout ratio (DPR) is 1,777.98%.
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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