M.D. Sass Investors Services Inc. Lowers Stock Holdings in Metlife Inc (NYSE:MET)
M.D. Sass Investors Services Inc. reduced its position in Metlife Inc (NYSE:MET) by 17.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,100 shares of the financial services provider’s stock after selling 8,200 shares during the quarter. M.D. Sass Investors Services Inc.’s holdings in Metlife were worth $1,991,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. FCA Corp TX boosted its holdings in Metlife by 0.7% in the 2nd quarter. FCA Corp TX now owns 34,349 shares of the financial services provider’s stock valued at $1,706,000 after purchasing an additional 239 shares during the period. APG Asset Management N.V. increased its holdings in shares of Metlife by 3.1% in the second quarter. APG Asset Management N.V. now owns 619,851 shares of the financial services provider’s stock worth $27,035,000 after purchasing an additional 18,400 shares during the period. Captrust Financial Advisors raised its position in shares of Metlife by 22.0% in the second quarter. Captrust Financial Advisors now owns 57,383 shares of the financial services provider’s stock worth $2,850,000 after buying an additional 10,346 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Metlife by 2.0% in the second quarter. Parametric Portfolio Associates LLC now owns 2,860,174 shares of the financial services provider’s stock worth $142,065,000 after buying an additional 55,830 shares in the last quarter. Finally, MUFG Securities EMEA plc bought a new stake in Metlife during the second quarter valued at $4,967,000. Institutional investors own 75.62% of the company’s stock.
MET has been the topic of a number of research analyst reports. Morgan Stanley decreased their target price on Metlife from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 20th. ValuEngine downgraded Metlife from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Barclays boosted their price objective on Metlife from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Wednesday, May 22nd. Zacks Investment Research upgraded shares of Metlife from a “sell” rating to a “hold” rating and set a $51.00 price objective on the stock in a research report on Friday, August 2nd. Finally, Citigroup set a $42.00 price objective on shares of Metlife and gave the stock a “sell” rating in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $49.71.
Metlife (NYSE:MET) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.07. The firm 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 company’s revenue for the quarter was down 22.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.30 EPS. On average, sell-side analysts forecast that Metlife Inc will post 5.65 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 6th will be given a $0.44 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $1.76 dividend on an annualized basis and a yield of 3.67%. Metlife’s payout ratio is 32.65%.
Metlife Company Profile
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.
Read More: What is the Book Value of a Share?
Want to see what other hedge funds are holding MET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Metlife Inc (NYSE:MET).
Receive News & Ratings for Metlife Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Metlife and related companies with MarketBeat.com's FREE daily email newsletter.