Old North State Trust LLC increased its position in Metlife Inc (NYSE:MET) by 28.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,301 shares of the financial services provider’s stock after buying an additional 1,857 shares during the quarter. Old North State Trust LLC’s holdings in Metlife were worth $391,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Kavar Capital Partners LLC purchased a new stake in shares of Metlife during the second quarter valued at $25,000. Meridian Wealth Management LLC purchased a new stake in shares of Metlife during the first quarter valued at $26,000. Motco lifted its holdings in shares of Metlife by 160.6% during the second quarter. Motco now owns 516 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 318 shares during the last quarter. Advisory Alpha LLC purchased a new stake in shares of Metlife during the first quarter valued at $27,000. Finally, Coastal Capital Group Inc. purchased a new stake in shares of Metlife during the second quarter valued at $30,000. Institutional investors and hedge funds own 75.55% of the company’s stock.
Several equities research analysts have recently commented on the company. Citigroup reduced their target price on Metlife from $42.00 to $41.00 and set a “sell” rating for the company in a report on Friday, September 13th. ValuEngine downgraded Metlife from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Zacks Investment Research raised Metlife from a “sell” rating to a “hold” rating and set a $51.00 target price for the company in a report on Friday, August 2nd. Morgan Stanley reduced their target price on Metlife from $54.00 to $53.00 and set an “equal weight” rating for the company in a report on Tuesday, August 20th. Finally, Wells Fargo & Co upped their target price on Metlife from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, July 11th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Metlife currently has a consensus rating of “Hold” and an average price target of $49.61.
Metlife (NYSE:MET) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.07. The firm had revenue of $16.45 billion for the quarter, compared to analyst estimates of $16.43 billion. Metlife had a return on equity of 9.75% and a net margin of 9.28%. Metlife’s quarterly revenue was down 22.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.30 earnings per share. On average, equities research analysts predict that Metlife Inc will post 5.67 earnings per share for the current year.
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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