State of Michigan Retirement System Raises Position in Metlife Inc (NYSE:MET)

State of Michigan Retirement System boosted its position in shares of Metlife Inc (NYSE:MET) by 9.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 196,975 shares of the financial services provider’s stock after buying an additional 17,790 shares during the period. State of Michigan Retirement System’s holdings in Metlife were worth $7,194,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Pearl River Capital LLC raised its position in shares of Metlife by 57.2% in the fourth quarter. Pearl River Capital LLC now owns 4,405 shares of the financial services provider’s stock valued at $225,000 after buying an additional 1,603 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Metlife by 5.8% in the 1st quarter. State of Alaska Department of Revenue now owns 169,993 shares of the financial services provider’s stock valued at $5,196,000 after acquiring an additional 9,312 shares during the last quarter. Private Trust Co. NA lifted its stake in Metlife by 11.8% in the 1st quarter. Private Trust Co. NA now owns 6,867 shares of the financial services provider’s stock worth $209,000 after purchasing an additional 727 shares in the last quarter. IBM Retirement Fund boosted its holdings in shares of Metlife by 62.4% during the 1st quarter. IBM Retirement Fund now owns 18,452 shares of the financial services provider’s stock worth $564,000 after purchasing an additional 7,088 shares during the last quarter. Finally, CHICAGO TRUST Co NA grew its position in shares of Metlife by 11.8% in the first quarter. CHICAGO TRUST Co NA now owns 40,207 shares of the financial services provider’s stock valued at $1,229,000 after purchasing an additional 4,228 shares in the last quarter. Institutional investors own 74.67% of the company’s stock.

Shares of MET opened at $37.85 on Friday. The firm has a 50-day simple moving average of $37.09 and a two-hundred day simple moving average of $38.85. The stock has a market cap of $34.35 billion, a PE ratio of 4.03, a P/E/G ratio of 4.42 and a beta of 1.34. Metlife Inc has a 1-year low of $22.85 and a 1-year high of $53.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.16 and a quick ratio of 0.16.

Metlife (NYSE:MET) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.14. Metlife had a net margin of 12.37% and a return on equity of 8.85%. The firm had revenue of $15.54 billion during the quarter, compared to analysts’ expectations of $16.38 billion. During the same quarter last year, the company posted $1.48 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. As a group, sell-side analysts expect that Metlife Inc will post 5.49 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Tuesday, August 4th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.86%. Metlife’s payout ratio is presently 30.11%.

A number of equities analysts have weighed in on MET shares. ValuEngine lowered Metlife from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 23rd. Morgan Stanley upped their price objective on shares of Metlife from $40.00 to $44.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Credit Suisse Group cut their price objective on shares of Metlife from $60.00 to $46.00 and set an “outperform” rating for the company in a research report on Monday, April 27th. Zacks Investment Research upgraded shares of Metlife from a “sell” rating to a “hold” rating and set a $45.00 target price on the stock in a report on Tuesday, June 9th. Finally, Bank of America began coverage on shares of Metlife in a research note on Monday, June 1st. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $41.88.

Metlife Company Profile

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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Institutional Ownership by Quarter for Metlife (NYSE:MET)

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