Wedge Capital Management L L P NC trimmed its holdings in shares of Metlife Inc (NYSE:MET) by 0.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 597,843 shares of the financial services provider’s stock after selling 4,816 shares during the quarter. Wedge Capital Management L L P NC owned 0.06% of Metlife worth $29,695,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Abner Herrman & Brock LLC grew its stake in shares of Metlife by 253.9% during the 2nd quarter. Abner Herrman & Brock LLC now owns 244,240 shares of the financial services provider’s stock worth $12,131,000 after acquiring an additional 175,225 shares in the last quarter. Sigma Planning Corp grew its stake in shares of Metlife by 16.9% during the 1st quarter. Sigma Planning Corp now owns 15,922 shares of the financial services provider’s stock worth $678,000 after acquiring an additional 2,297 shares in the last quarter. Hallmark Capital Management Inc. grew its stake in shares of Metlife by 24.7% during the 1st quarter. Hallmark Capital Management Inc. now owns 37,913 shares of the financial services provider’s stock worth $1,614,000 after acquiring an additional 7,498 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Metlife by 35.5% during the 1st quarter. Toronto Dominion Bank now owns 766,979 shares of the financial services provider’s stock worth $32,643,000 after acquiring an additional 201,123 shares in the last quarter. Finally, Unison Advisors LLC grew its stake in shares of Metlife by 1.0% during the 2nd quarter. Unison Advisors LLC now owns 21,133 shares of the financial services provider’s stock worth $1,049,000 after acquiring an additional 200 shares in the last quarter. 75.13% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:MET traded down $0.67 during midday trading on Wednesday, hitting $45.22. The stock had a trading volume of 2,180,659 shares, compared to its average volume of 5,181,302. Metlife Inc has a 12 month low of $37.76 and a 12 month high of $51.16. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average of $49.30. The firm has a market capitalization of $44.05 billion, a P/E ratio of 8.39, a P/E/G ratio of 0.99 and a beta of 1.09.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 6th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $1.76 annualized dividend and a dividend yield of 3.89%. Metlife’s dividend payout ratio is presently 32.65%.
MET has been the subject of several research reports. ValuEngine cut shares of Metlife from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Zacks Investment Research raised shares of Metlife from a “sell” rating to a “hold” rating and set a $51.00 price target for the company in a research note on Friday, August 2nd. Barclays raised their price target on shares of Metlife from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 22nd. Citigroup set a $42.00 price target on shares of Metlife and gave the stock a “sell” rating in a research note on Thursday, May 23rd. Finally, Morgan Stanley raised their target price on shares of Metlife from $52.00 to $53.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $50.91.
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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