MetLife, Inc. (MET) Holdings Reduced by State Street Corp
State Street Corp decreased its holdings in shares of MetLife, Inc. (NYSE:MET) by 3.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,464,182 shares of the financial services provider’s stock after selling 1,556,782 shares during the period. State Street Corp owned 4.47% of MetLife worth $2,607,680,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in MET. BlackRock Inc. grew its holdings in shares of MetLife by 3,323.3% during the 1st quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock worth $3,616,895,000 after acquiring an additional 66,475,603 shares during the period. Epoch Investment Partners Inc. purchased a new position in shares of MetLife during the 2nd quarter worth approximately $183,290,000. Vanguard Group Inc. grew its holdings in shares of MetLife by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 65,364,620 shares of the financial services provider’s stock worth $3,452,559,000 after acquiring an additional 1,885,246 shares during the period. TD Asset Management Inc. grew its holdings in shares of MetLife by 47.7% during the 2nd quarter. TD Asset Management Inc. now owns 5,201,238 shares of the financial services provider’s stock worth $285,756,000 after acquiring an additional 1,679,740 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of MetLife during the 1st quarter worth approximately $82,954,000. 74.25% of the stock is owned by institutional investors and hedge funds.
MetLife, Inc. (NYSE:MET) traded down 0.26% during trading on Monday, hitting $52.88. The stock had a trading volume of 427,020 shares. MetLife, Inc. has a 12 month low of $40.53 and a 12 month high of $53.27. The firm 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 $56.20 billion, a price-to-earnings ratio of 622.12 and a beta of 1.47.
MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, beating the 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 business had revenue of $17.39 billion during the quarter, compared to analysts’ expectations of $17.11 billion. During the same quarter in the prior year, the company posted $0.83 EPS. The business’s revenue for the quarter 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 year.
A number of research analysts have weighed in on the company. Langen Mcalenn reiterated a “buy” rating on shares of MetLife in a report on Wednesday, August 16th. Wells Fargo & Company reiterated a “buy” rating on shares of MetLife in a report on Monday, August 7th. BidaskClub upgraded MetLife from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Zacks Investment Research downgraded MetLife from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $59.00 target price on shares of MetLife in a report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. MetLife presently has an average rating of “Hold” and an average target price of $57.45.
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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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