LSV Asset Management Acquires 283,900 Shares of Metlife Inc (MET)
LSV Asset Management grew its holdings in shares of Metlife Inc (NYSE:MET) by 7.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,098,468 shares of the financial services provider’s stock after purchasing an additional 283,900 shares during the quarter. LSV Asset Management owned approximately 0.40% of Metlife worth $178,693,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in MET. Nissay Asset Management Corp Japan ADV boosted its position in shares of Metlife by 2.9% during the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 115,792 shares of the financial services provider’s stock valued at $5,049,000 after acquiring an additional 3,287 shares during the last quarter. SPF Beheer BV boosted its position in shares of Metlife by 2.0% during the 2nd quarter. SPF Beheer BV now owns 1,638,667 shares of the financial services provider’s stock valued at $71,446,000 after acquiring an additional 31,962 shares during the last quarter. Usca Ria LLC boosted its position in shares of Metlife by 4.2% during the 2nd quarter. Usca Ria LLC now owns 37,512 shares of the financial services provider’s stock valued at $1,636,000 after acquiring an additional 1,512 shares during the last quarter. Gideon Capital Advisors Inc. acquired a new position in shares of Metlife during the 2nd quarter valued at about $3,605,000. Finally, Independence Bank of Kentucky boosted its position in shares of Metlife by 16.1% during the 2nd quarter. Independence Bank of Kentucky now owns 10,111 shares of the financial services provider’s stock valued at $441,000 after acquiring an additional 1,405 shares during the last quarter. 77.16% of the stock is currently owned by institutional investors.
Several brokerages have recently weighed in on MET. Zacks Investment Research cut shares of Metlife from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. Sandler O’Neill reissued a “hold” rating and set a $50.00 price target on shares of Metlife in a research report on Thursday, August 2nd. ValuEngine raised shares of Metlife from a “hold” rating to a “buy” rating in a research report on Thursday, April 26th. Wells Fargo & Co reissued a “buy” rating on shares of Metlife in a research report on Tuesday, May 8th. Finally, B. Riley lowered their price target on shares of Metlife from $58.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, July 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $55.07.
Metlife (NYSE:MET) last issued its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.13. The firm had revenue of $21.22 billion for the quarter, compared to analyst estimates of $15.65 billion. Metlife had a net margin of 6.12% and a return on equity of 9.17%. Metlife’s revenue was up 36.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.04 EPS. analysts expect that Metlife Inc will post 5.22 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 13th. Investors of record on Monday, August 6th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, August 3rd. This represents a $1.68 annualized dividend and a yield of 3.69%. Metlife’s dividend payout ratio (DPR) is currently 37.33%.
Metlife announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 22nd that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
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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