Westpac Banking Corp Has $2.65 Million Holdings in MetLife, Inc. (NYSE:MET)

Westpac Banking Corp decreased its holdings in shares of MetLife, Inc. (NYSE:MET) by 86.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,888 shares of the financial services provider’s stock after selling 292,905 shares during the quarter. Westpac Banking Corp’s holdings in MetLife were worth $2,651,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Jones Financial Companies Lllp bought a new stake in shares of MetLife during the first quarter worth $26,000. Quintet Private Bank Europe S.A. acquired a new position in MetLife in the 1st quarter worth about $26,000. FWL Investment Management LLC acquired a new stake in shares of MetLife during the fourth quarter valued at about $26,000. Larson Financial Group LLC grew its holdings in shares of MetLife by 47.6% during the second quarter. Larson Financial Group LLC now owns 484 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 156 shares during the last quarter. Finally, Eagle Bay Advisors LLC acquired a new position in shares of MetLife in the second quarter valued at approximately $28,000. Institutional investors own 88.14% of the company’s stock.

MetLife Stock Up 0.2 %

NYSE MET traded up $0.13 during mid-day trading on Thursday, hitting $61.95. The company’s stock had a trading volume of 628,490 shares, compared to its average volume of 4,659,928. The firm has a market capitalization of $45.85 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 0.65 and a beta of 1.06. The company’s 50 day simple moving average is $62.02 and its 200 day simple moving average is $59.17. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.62. MetLife, Inc. has a twelve month low of $48.95 and a twelve month high of $77.36.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, November 1st. The financial services provider reported $1.97 earnings per share 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 business had revenue of $15.87 billion during the quarter, compared to analyst estimates of $17.49 billion. During the same quarter in the prior year, the company earned $1.21 EPS. The company’s revenue was down 28.8% on a year-over-year basis. Analysts anticipate that MetLife, Inc. will post 7.57 earnings per share for the current year.

MetLife Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 9th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $2.08 annualized dividend and a yield of 3.36%. MetLife’s dividend payout ratio (DPR) is currently 76.47%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MET. Morgan Stanley lifted their price target on shares of MetLife from $79.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, November 2nd. JPMorgan Chase & Co. reduced their price objective on shares of MetLife from $85.00 to $82.00 and set an “overweight” rating on the stock in a research note on Friday, October 6th. Citigroup boosted their target price on shares of MetLife from $76.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Argus lifted their price objective on MetLife from $70.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, August 14th. Finally, TheStreet raised MetLife from a “c+” rating to a “b-” rating in a research note on Thursday, August 10th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $76.18.

MetLife Company Profile

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.