ZWJ Investment Counsel Inc. reduced its stake in MetLife, Inc. (NYSE:MET) by 15.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 376,445 shares of the financial services provider’s stock after selling 68,495 shares during the period. MetLife makes up about 1.6% of ZWJ Investment Counsel Inc.’s investment portfolio, making the stock its 23rd largest position. ZWJ Investment Counsel Inc.’s holdings in MetLife were worth $19,884,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of MET. Patriot Financial Group Insurance Agency LLC purchased a new position in MetLife during the fourth quarter valued at approximately $438,000. Norges Bank bought a new stake in shares of MetLife during the fourth quarter valued at about $324,535,000. Sowell Financial Services LLC bought a new stake in shares of MetLife during the fourth quarter valued at about $529,000. Assenagon Asset Management S.A. bought a new stake in shares of MetLife during the fourth quarter valued at about $588,000. Finally, Putnam Investments LLC boosted its stake in shares of MetLife by 24.0% in the fourth quarter. Putnam Investments LLC now owns 900,532 shares of the financial services provider’s stock valued at $48,530,000 after buying an additional 174,478 shares during the last quarter. Institutional investors own 74.69% of the company’s stock.
Shares of MetLife, Inc. (NYSE:MET) traded up 0.79% on Friday, reaching $53.92. The company’s stock had a trading volume of 6,401,613 shares. The stock has a market capitalization of $58.62 billion, a PE ratio of 605.84 and a beta of 1.46. The stock has a 50-day moving average of $54.59 and a 200 day moving average of $53.07. MetLife, Inc. has a 1-year low of $38.87 and a 1-year high of $58.09.
MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.02. The firm had revenue of $17.39 billion during the quarter, compared to analysts’ expectations of $17.11 billion. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.83 earnings per share. On average, equities analysts forecast that MetLife, Inc. will post $5.36 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 7th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Thursday, August 3rd. MetLife’s dividend payout ratio (DPR) is presently 1,777.98%.
WARNING: “MetLife, Inc. (NYSE:MET) Shares Sold by ZWJ Investment Counsel Inc.” was originally published by BBNS and is the sole property of of BBNS. If you are accessing this article on another website, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The original version of this article can be read at https://baseballnewssource.com/markets/zwj-investment-counsel-inc-sells-68495-shares-of-metlife-inc-nysemet-updated-updated-updated/1179672.html.
A number of analysts have recently commented on MET shares. TheStreet cut MetLife from a “b-” rating to a “c” rating in a research report on Tuesday, May 16th. ValuEngine raised MetLife from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Citigroup Inc. set a $51.00 price target on MetLife and gave the stock a “sell” rating in a report on Friday, July 7th. Zacks Investment Research raised MetLife from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a report on Tuesday, April 11th. Finally, BidaskClub raised MetLife from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $59.02.
MetLife Company Profile
MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings; Brighthouse Financial, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
Receive News & Ratings for MetLife Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MetLife Inc. and related companies with our FREE daily email newsletter.