MetLife, Inc. (NYSE:MET) Holdings Lifted by Summit X LLC

Summit X LLC boosted its holdings in MetLife, Inc. (NYSE:MET) by 3.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,751 shares of the financial services provider’s stock after acquiring an additional 272 shares during the quarter. Summit X LLC’s holdings in MetLife were worth $438,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of MET. Humankind Investments LLC acquired a new stake in MetLife during the second quarter valued at approximately $14,215,000. Dimensional Fund Advisors LP lifted its position in shares of MetLife by 18.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,065,843 shares of the financial services provider’s stock valued at $173,311,000 after acquiring an additional 473,848 shares during the last quarter. Meridian Investment Counsel Inc. raised its holdings in shares of MetLife by 1.2% during the second quarter. Meridian Investment Counsel Inc. now owns 57,883 shares of the financial services provider’s stock valued at $3,272,000 after acquiring an additional 700 shares during the period. Koch Industries Inc. purchased a new stake in shares of MetLife in the 2nd quarter valued at approximately $214,000. Finally, AGF Management Ltd. boosted its stake in MetLife by 4.9% in the 2nd quarter. AGF Management Ltd. now owns 358,429 shares of the financial services provider’s stock worth $20,262,000 after purchasing an additional 16,614 shares during the period. 88.14% of the stock is owned by institutional investors and hedge funds.

MetLife Trading Up 3.2 %

Shares of NYSE:MET opened at $62.38 on Wednesday. The company has a market cap of $46.17 billion, a P/E ratio of 22.93, a P/E/G ratio of 0.65 and a beta of 1.06. The stock’s 50-day moving average is $62.05 and its 200-day moving average is $59.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.13 and a current ratio of 0.13. MetLife, Inc. has a 52-week low of $48.95 and a 52-week high of $77.36.

MetLife (NYSE:MET) last announced its earnings results on Wednesday, November 1st. The financial services provider reported $1.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.02). MetLife had a return on equity of 19.14% and a net margin of 3.60%. The company had revenue of $15.87 billion for the quarter, compared to the consensus estimate of $17.49 billion. During the same period last year, the firm posted $1.21 EPS. The company’s revenue was down 28.8% compared to the same quarter last year. Equities research analysts predict that MetLife, Inc. will post 7.57 earnings per share for the current year.

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 9th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 3.33%. MetLife’s dividend payout ratio is currently 76.47%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MET shares. TheStreet raised shares of MetLife from a “c+” rating to a “b-” rating in a research note on Thursday, August 10th. Morgan Stanley increased their price objective on MetLife from $79.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, November 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of MetLife in a research report on Wednesday, October 4th. They issued a “hold” rating and a $71.00 target price for the company. Royal Bank of Canada raised their price target on shares of MetLife from $70.00 to $74.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Finally, Wells Fargo & Company upped their price objective on shares of MetLife from $82.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, August 15th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, MetLife currently has a consensus rating of “Moderate Buy” and an average target price of $76.18.

About MetLife

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. 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, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.