World Asset Management Inc Acquires 1,380 Shares of Metlife Inc (NYSE:MET)
World Asset Management Inc lifted its holdings in Metlife Inc (NYSE:MET) by 2.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 65,031 shares of the financial services provider’s stock after purchasing an additional 1,380 shares during the period. World Asset Management Inc’s holdings in Metlife were worth $3,230,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Strategic Investment Advisors MI purchased a new stake in Metlife during the 2nd quarter valued at approximately $215,000. CHICAGO TRUST Co NA grew its holdings in Metlife by 6.2% during the 2nd quarter. CHICAGO TRUST Co NA now owns 35,978 shares of the financial services provider’s stock valued at $1,787,000 after buying an additional 2,110 shares in the last quarter. Dowling & Yahnke LLC grew its holdings in Metlife by 3.5% during the 2nd quarter. Dowling & Yahnke LLC now owns 53,367 shares of the financial services provider’s stock valued at $2,651,000 after buying an additional 1,783 shares in the last quarter. Clean Yield Group grew its holdings in Metlife by 3,681.8% during the 2nd quarter. Clean Yield Group now owns 832 shares of the financial services provider’s stock valued at $41,000 after buying an additional 810 shares in the last quarter. Finally, AE Wealth Management LLC grew its holdings in Metlife by 137.0% during the 2nd quarter. AE Wealth Management LLC now owns 54,468 shares of the financial services provider’s stock valued at $2,705,000 after buying an additional 31,486 shares in the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.
A number of research analysts recently weighed in on MET shares. Morgan Stanley raised their target price on shares of Williams-Sonoma from $52.00 to $56.00 and gave the company an “underweight” rating in a report on Wednesday, July 10th. Citigroup lowered shares of Barrick Gold to a “neutral” rating in a report on Thursday, May 23rd. Deutsche Bank raised their target price on shares of Prudential Financial from $97.00 to $104.00 and gave the company a “hold” rating in a report on Friday, April 12th. Barclays set a $34.00 target price on shares of DCP Midstream and gave the company a “hold” rating in a report on Wednesday, May 22nd. Finally, UBS Group raised their target price on shares of Verisk Analytics from $106.00 to $111.00 and gave the company a “sell” rating in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $50.73.
Metlife (NYSE:MET) last posted its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.48 EPS for the quarter, topping the consensus estimate of $1.30 by $0.18. The company had revenue of $15.45 billion during the quarter, compared to analyst estimates of $15.95 billion. Metlife had a net margin of 7.56% and a return on equity of 10.20%. Metlife’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.36 earnings per share. On average, research analysts expect that Metlife Inc will post 5.59 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 6th will be issued a $0.44 dividend. The ex-dividend date is Monday, August 5th. This represents a $1.76 annualized dividend and a dividend yield of 3.54%. Metlife’s payout ratio is currently 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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