Arden Trust Co cut its position in shares of MetLife, Inc. (NYSE:MET) by 3.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,823 shares of the financial services provider’s stock after selling 727 shares during the quarter. Arden Trust Co’s holdings in MetLife were worth $699,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of MetLife by 6.6% during the second quarter. BlackRock Inc. now owns 69,956,785 shares of the financial services provider’s stock worth $2,554,824,000 after purchasing an additional 4,312,214 shares during the period. Morgan Stanley raised its stake in MetLife by 21.4% during the first quarter. Morgan Stanley now owns 5,556,381 shares of the financial services provider’s stock worth $169,858,000 after acquiring an additional 981,327 shares during the period. Nuveen Asset Management LLC lifted its holdings in MetLife by 2.0% in the second quarter. Nuveen Asset Management LLC now owns 5,507,280 shares of the financial services provider’s stock worth $201,126,000 after acquiring an additional 110,024 shares during the last quarter. Swiss National Bank lifted its holdings in MetLife by 1.5% in the second quarter. Swiss National Bank now owns 3,078,776 shares of the financial services provider’s stock worth $112,437,000 after acquiring an additional 44,900 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in MetLife by 105.4% in the second quarter. Nordea Investment Management AB now owns 2,932,980 shares of the financial services provider’s stock valued at $104,972,000 after acquiring an additional 1,504,982 shares during the period. 74.92% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on the company. Wells Fargo & Company reiterated a “buy” rating and set a $45.00 price target on shares of MetLife in a research report on Thursday, August 6th. Credit Suisse Group reiterated a “buy” rating and issued a $46.00 target price on shares of MetLife in a research note on Friday, September 18th. Morgan Stanley upped their price target on shares of MetLife from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 6th. Finally, Argus reaffirmed a “buy” rating on shares of MetLife in a report on Wednesday, August 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $41.71.
Shares of NYSE MET opened at $39.28 on Friday. The stock has a market cap of $35.65 billion, a P/E ratio of 5.10, a P/E/G ratio of 1.72 and a beta of 1.28. The firm’s 50-day simple moving average is $38.34 and its 200 day simple moving average is $36.49. MetLife, Inc. has a fifty-two week low of $22.85 and a fifty-two week high of $53.28. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.20.
MetLife (NYSE:MET) last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.83 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.07). The company had revenue of $13.85 billion for the quarter, compared to analyst estimates of $15.36 billion. MetLife had a net margin of 10.65% and a return on equity of 7.71%. On average, sell-side analysts anticipate that MetLife, Inc. will post 5.63 earnings per share for the current fiscal year.
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses 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, 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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