Smithfield Trust Co. increased its position in shares of Metlife Inc (NYSE:MET) by 288.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,515 shares of the financial services provider’s stock after buying an additional 3,352 shares during the period. Smithfield Trust Co.’s holdings in Metlife were worth $192,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. Cullen Frost Bankers Inc. boosted its holdings in Metlife by 31.1% in the first quarter. Cullen Frost Bankers Inc. now owns 22,415 shares of the financial services provider’s stock worth $954,000 after acquiring an additional 5,311 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Metlife by 4.2% in the first quarter. Janney Montgomery Scott LLC now owns 786,682 shares of the financial services provider’s stock worth $33,489,000 after acquiring an additional 31,923 shares in the last quarter. Dupont Capital Management Corp boosted its holdings in Metlife by 23.8% in the first quarter. Dupont Capital Management Corp now owns 112,973 shares of the financial services provider’s stock worth $4,809,000 after acquiring an additional 21,712 shares in the last quarter. Cutler Capital Management LLC boosted its holdings in Metlife by 0.8% in the first quarter. Cutler Capital Management LLC now owns 179,553 shares of the financial services provider’s stock worth $7,643,000 after acquiring an additional 1,450 shares in the last quarter. Finally, Osborn Williams & Donohoe LLC purchased a new position in shares of Metlife in the first quarter worth about $26,000. 77.09% of the stock is currently owned by institutional investors.
Shares of Metlife stock traded up $0.58 during trading hours on Friday, hitting $47.83. The company’s stock had a trading volume of 3,372,700 shares, compared to its average volume of 5,498,404. Metlife Inc has a twelve month low of $37.76 and a twelve month high of $50.40. The firm has a market cap of $44.90 billion, a PE ratio of 8.87, a price-to-earnings-growth ratio of 1.01 and a beta of 1.21. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.24.
Metlife (NYSE:MET) last announced its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.18. The business had revenue of $15.45 billion for the quarter, compared to analyst estimates of $15.95 billion. Metlife had a return on equity of 10.20% and a net margin of 7.56%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.36 EPS. As a group, equities analysts expect that Metlife Inc will post 5.61 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, May 7th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Monday, May 6th. This is an increase from Metlife’s previous quarterly dividend of $0.42. Metlife’s payout ratio is currently 32.65%.
Several brokerages have recently issued reports on MET. Wells Fargo & Co restated a “buy” rating and issued a $55.00 price objective on shares of Metlife in a research note on Tuesday. Barclays lifted their price target on Metlife from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Wednesday. ValuEngine upgraded Metlife from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Citigroup set a $42.00 price target on Metlife and gave the company a “sell” rating in a research report on Thursday. Finally, Deutsche Bank boosted their price objective on Metlife from $46.00 to $47.00 and gave the company a “hold” rating in a research report on Friday, April 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. Metlife presently has a consensus rating of “Hold” and an average price target of $51.39.
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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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