Brandywine Global Investment Management LLC Cuts Position in MetLife, Inc. (MET)
Brandywine Global Investment Management LLC reduced its stake in shares of MetLife, Inc. (NYSE:MET) by 17.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,799,554 shares of the financial services provider’s stock after selling 368,687 shares during the period. Brandywine Global Investment Management LLC owned 0.17% of MetLife worth $98,868,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. lifted its position in MetLife by 3,323.3% during the first quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock worth $3,616,895,000 after buying an additional 66,475,603 shares during the period. Epoch Investment Partners Inc. purchased a new stake in MetLife in the 2nd quarter valued at about $183,290,000. Vanguard Group Inc. grew its holdings 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 buying an additional 1,885,246 shares during the period. TD Asset Management Inc. grew its holdings 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 buying an additional 1,679,740 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in MetLife in the 1st quarter valued at about $82,954,000. Hedge funds and other institutional investors own 74.27% of the company’s stock.
MetLife, Inc. (MET) opened at 52.40 on Wednesday. The company has a market capitalization of $55.69 billion, a price-to-earnings ratio of 616.47 and a beta of 1.47. MetLife, Inc. has a 12-month low of $40.14 and a 12-month high of $52.42. The stock’s 50 day moving average price is $48.70 and its 200 day moving average price is $47.55.
MetLife (NYSE:MET) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, topping the consensus estimate of $1.28 by $0.02. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The firm had revenue of $17.39 billion during the quarter, compared to analysts’ expectations of $17.11 billion. During the same period last year, the business earned $0.83 earnings per share. MetLife’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts anticipate that MetLife, Inc. will post $4.81 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Monday, August 7th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date was Thursday, August 3rd. MetLife’s payout ratio is 1,777.98%.
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A number of equities analysts have weighed in on MET shares. TheStreet downgraded shares of MetLife from a “b-” rating to a “c+” rating in a research note on Monday, August 21st. ValuEngine upgraded MetLife from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. BidaskClub lowered MetLife from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $63.00 target price (up from $61.00) on shares of MetLife in a research report on Wednesday, July 12th. Finally, UBS AG reissued a “neutral” rating and set a $49.00 price target (down previously from $57.00) on shares of MetLife in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. MetLife presently has a consensus rating of “Buy” and an average price target of $57.74.
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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