MetLife, Inc. (MET) Shares Sold by Peapack Gladstone Financial Corp
Peapack Gladstone Financial Corp decreased its stake in MetLife, Inc. (NYSE:MET) by 0.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,107 shares of the financial services provider’s stock after selling 840 shares during the period. Peapack Gladstone Financial Corp’s holdings in MetLife were worth $5,830,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Prudential Financial Inc. boosted its holdings in shares of MetLife by 71.4% in the 2nd quarter. Prudential Financial Inc. now owns 3,672,729 shares of the financial services provider’s stock valued at $201,778,000 after buying an additional 1,529,570 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of MetLife by 5.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,555,656 shares of the financial services provider’s stock valued at $195,348,000 after buying an additional 175,311 shares in the last quarter. KBC Group NV boosted its holdings in shares of MetLife by 14.3% in the 2nd quarter. KBC Group NV now owns 1,263,802 shares of the financial services provider’s stock valued at $69,433,000 after buying an additional 157,734 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of MetLife by 7.2% in the 1st quarter. Teacher Retirement System of Texas now owns 822,785 shares of the financial services provider’s stock valued at $43,460,000 after buying an additional 55,508 shares in the last quarter. Finally, Boston Partners boosted its holdings in shares of MetLife by 0.5% in the 2nd quarter. Boston Partners now owns 2,010,623 shares of the financial services provider’s stock valued at $110,464,000 after buying an additional 9,845 shares in the last quarter. Institutional investors and hedge funds own 74.27% of the company’s stock.
MET has been the subject of several research analyst reports. TheStreet cut shares of MetLife from a “b-” rating to a “c+” rating in a research note on Monday, August 21st. BidaskClub cut shares of MetLife from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. ValuEngine upgraded shares of MetLife from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Wells Fargo & Company reiterated an “outperform” rating and set a $63.00 price target (up previously from $61.00) on shares of MetLife in a research note on Wednesday, July 12th. Finally, UBS AG reiterated a “neutral” rating and set a $49.00 price target (down previously from $57.00) on shares of MetLife in a research note on Friday, September 1st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $57.45.
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Shares of MetLife, Inc. (NYSE:MET) traded up 0.84% during trading on Friday, hitting $53.02. 5,112,059 shares of the stock were exchanged. MetLife, Inc. has a 12-month low of $40.30 and a 12-month high of $53.27. The stock has a 50-day moving average of $49.14 and a 200 day moving average of $47.66. The stock has a market cap of $56.35 billion, a P/E ratio of 623.76 and a beta of 1.47.
MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.02. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The company had revenue of $17.39 billion during the quarter, compared to the consensus estimate of $17.11 billion. During the same period in the prior year, the company earned $0.83 EPS. MetLife’s revenue was up 2.5% on a year-over-year basis. Equities analysts predict that MetLife, Inc. will post $4.71 earnings per share for the current fiscal year.
MetLife Company Profile
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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