Foster & Motley Inc. Lowers Holdings in Metlife Inc (NYSE:MET)
Foster & Motley Inc. decreased its stake in Metlife Inc (NYSE:MET) by 2.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,677 shares of the financial services provider’s stock after selling 686 shares during the quarter. Foster & Motley Inc.’s holdings in Metlife were worth $1,623,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of MET. Geode Capital Management LLC boosted its position in shares of Metlife by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 12,421,536 shares of the financial services provider’s stock valued at $509,344,000 after acquiring an additional 856,479 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of Metlife by 2.9% in the first quarter. Clearbridge Investments LLC now owns 11,907,582 shares of the financial services provider’s stock worth $506,906,000 after acquiring an additional 332,510 shares during the last quarter. Norges Bank bought a new position in shares of Metlife in the fourth quarter worth about $274,580,000. LSV Asset Management raised its stake in shares of Metlife by 1.0% in the first quarter. LSV Asset Management now owns 4,053,327 shares of the financial services provider’s stock worth $172,550,000 after acquiring an additional 41,324 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Metlife by 1.3% in the first quarter. Jennison Associates LLC now owns 3,869,086 shares of the financial services provider’s stock worth $164,707,000 after acquiring an additional 51,272 shares during the last quarter. Hedge funds and other institutional investors own 75.73% of the company’s stock.
A number of equities analysts have weighed in on MET shares. Morgan Stanley boosted their target price on shares of Williams-Sonoma from $52.00 to $56.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 10th. Deutsche Bank boosted their price target on shares of Prudential Financial from $97.00 to $104.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. ValuEngine raised shares of Yirendai from a “strong sell” rating to a “sell” rating in a research note on Friday, May 3rd. UBS Group boosted their price target on shares of Verisk Analytics from $106.00 to $111.00 and gave the stock a “sell” rating in a research note on Tuesday, April 9th. Finally, Citigroup downgraded shares of Barrick Gold to a “neutral” rating in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $50.73.
Metlife (NYSE:MET) last issued its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.18. The firm had revenue of $15.45 billion during the quarter, compared to analysts’ expectations of $15.95 billion. Metlife had a net margin of 7.56% and a return on equity of 10.20%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.36 earnings per share. As a group, equities analysts anticipate that Metlife Inc will post 5.59 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 6th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Monday, August 5th. Metlife’s dividend payout ratio (DPR) is presently 32.65%.
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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