MetLife, Inc. (MET) Stake Decreased by Balyasny Asset Management LLC
Balyasny Asset Management LLC cut its position in shares of MetLife, Inc. (NYSE:MET) by 48.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 605,557 shares of the financial services provider’s stock after selling 579,859 shares during the quarter. Balyasny Asset Management LLC owned about 0.06% of MetLife worth $33,269,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of MetLife by 2.2% during the second quarter. BlackRock Inc. now owns 69,957,359 shares of the financial services provider’s stock worth $3,843,457,000 after buying an additional 1,481,489 shares during the period. Vanguard Group Inc. increased its position in shares of MetLife by 2.1% during the second quarter. Vanguard Group Inc. now owns 66,723,143 shares of the financial services provider’s stock worth $3,665,769,000 after buying an additional 1,358,523 shares during the period. State Street Corp increased its position in shares of MetLife by 1.4% during the first quarter. State Street Corp now owns 49,020,964 shares of the financial services provider’s stock worth $2,589,297,000 after buying an additional 680,903 shares during the period. Franklin Resources Inc. increased its position in shares of MetLife by 1.6% during the second quarter. Franklin Resources Inc. now owns 25,704,204 shares of the financial services provider’s stock worth $1,412,189,000 after buying an additional 414,032 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of MetLife by 6.9% during the first quarter. Geode Capital Management LLC now owns 10,265,096 shares of the financial services provider’s stock worth $541,427,000 after buying an additional 664,918 shares during the period. Institutional investors own 74.27% of the company’s stock.
MetLife, Inc. (MET) opened at 52.52 on Thursday. MetLife, Inc. has a one year low of $40.30 and a one year high of $52.73. The stock’s 50 day moving average is $48.84 and its 200-day moving average is $47.58. The firm has a market capitalization of $55.82 billion, a PE ratio of 617.88 and a beta of 1.47.
MetLife (NYSE:MET) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.02. The firm 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 company’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.83 EPS. On average, analysts anticipate that MetLife, Inc. will post $4.73 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Monday, August 7th were given a $0.40 dividend. 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 dividend payout ratio is presently 1,777.98%.
Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company reiterated a “buy” rating on shares of MetLife in a research report on Saturday, July 1st. Langen Mcalenn reiterated a “buy” rating on shares of MetLife in a research report on Wednesday, August 16th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $59.00 price target on shares of MetLife in a report on Thursday, August 3rd. J P Morgan Chase & Co began coverage on shares of MetLife in a report on Monday, July 24th. They issued a “hold” rating and a $78.00 price target for the company. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $62.00 price target on shares of MetLife in a report on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $57.64.
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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