Guggenheim Capital LLC boosted its position in shares of MetLife, Inc. (NYSE:MET – Get Rating) by 9.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 383,366 shares of the financial services provider’s stock after acquiring an additional 33,901 shares during the period. Guggenheim Capital LLC’s holdings in MetLife were worth $26,943,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MET. BRYN MAWR TRUST Co acquired a new stake in MetLife during the fourth quarter valued at $200,000. Rhumbline Advisers grew its position in MetLife by 0.5% during the fourth quarter. Rhumbline Advisers now owns 1,238,730 shares of the financial services provider’s stock valued at $77,408,000 after buying an additional 6,435 shares during the period. International Assets Investment Management LLC acquired a new stake in MetLife during the fourth quarter valued at $225,000. Covestor Ltd purchased a new position in MetLife during the fourth quarter valued at $76,000. Finally, Texas Yale Capital Corp. lifted its holdings in MetLife by 5.8% during the fourth quarter. Texas Yale Capital Corp. now owns 9,060 shares of the financial services provider’s stock valued at $566,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 86.53% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on MET shares. TheStreet downgraded shares of MetLife from a “b” rating to a “c+” rating in a report on Wednesday, August 3rd. Barclays set a $75.00 price objective on shares of MetLife in a report on Tuesday, July 19th. Morgan Stanley raised their price target on shares of MetLife from $79.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 17th. JPMorgan Chase & Co. decreased their price target on shares of MetLife from $75.00 to $74.00 in a research note on Monday, July 11th. Finally, Evercore ISI raised their price target on shares of MetLife to $81.00 in a research note on Tuesday, August 9th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.92.
MetLife Trading Up 1.3 %
MetLife Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 14th. Investors of record on Tuesday, August 9th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Monday, August 8th. MetLife’s dividend payout ratio is presently 49.75%.
Insider Activity at MetLife
In other MetLife news, EVP Steven J. Goulart sold 4,060 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $67.60, for a total value of $274,456.00. Following the sale, the executive vice president now owns 55,299 shares of the company’s stock, valued at $3,738,212.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by insiders.
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.
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