Shell Asset Management Co. lowered its position in shares of MetLife, Inc. (NYSE:MET) by 49.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,438 shares of the financial services provider’s stock after selling 159,937 shares during the quarter. Shell Asset Management Co.’s holdings in MetLife were worth $8,619,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of MetLife by 2.2% during the 2nd quarter. BlackRock Inc. now owns 69,957,359 shares of the financial services provider’s stock worth $3,843,457,000 after purchasing an additional 1,481,489 shares in the last quarter. Vanguard Group Inc. increased its position in shares of MetLife by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 66,723,143 shares of the financial services provider’s stock worth $3,665,769,000 after purchasing an additional 1,358,523 shares in the last quarter. State Street Corp increased its position in shares of MetLife by 1.4% during the 1st quarter. State Street Corp now owns 49,020,964 shares of the financial services provider’s stock worth $2,589,297,000 after purchasing an additional 680,903 shares in the last quarter. Franklin Resources Inc. increased its position in shares of MetLife by 1.6% during the 2nd quarter. Franklin Resources Inc. now owns 25,704,204 shares of the financial services provider’s stock worth $1,412,189,000 after purchasing an additional 414,032 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of MetLife by 6.9% during the 1st quarter. Geode Capital Management LLC now owns 10,265,096 shares of the financial services provider’s stock worth $541,427,000 after purchasing an additional 664,918 shares in the last quarter. Institutional investors and hedge funds own 74.22% of the company’s stock.
Shares of MetLife, Inc. (NYSE MET) traded up 0.57% on Friday, hitting $53.29. 4,300,265 shares of the stock traded hands. MetLife, Inc. has a 1-year low of $40.30 and a 1-year high of $53.58. The stock has a market cap of $56.64 billion, a PE ratio of 626.94 and a beta of 1.47. The stock has a 50 day moving average of $50.77 and a 200-day moving average of $48.11.
MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.02. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The company had revenue of $17.39 billion during the quarter, compared to the consensus estimate of $17.11 billion. During the same quarter in the prior year, the firm posted $0.83 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts expect that MetLife, Inc. will post $4.80 EPS for the current year.
A number of brokerages recently issued reports on MET. Wells Fargo & Company reiterated a “buy” rating on shares of MetLife in a research report on Wednesday. Goldman Sachs Group Inc began coverage on shares of MetLife in a research report on Wednesday. They set a “conviction-buy” rating and a $61.00 target price for the company. FBR & Co cut shares of MetLife from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $53.00 to $52.00 in a research report on Tuesday, October 10th. ValuEngine cut shares of MetLife from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 10th. Finally, Zacks Investment Research upgraded shares of MetLife from a “strong sell” rating to a “hold” rating in a research report on Monday, October 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $57.62.
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MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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