Beacon Financial Group Has $308,000 Stake in MetLife, Inc. (MET)
Beacon Financial Group reduced its stake in shares of MetLife, Inc. (NYSE:MET) by 96.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,930 shares of the financial services provider’s stock after selling 141,106 shares during the period. Beacon Financial Group’s holdings in MetLife were worth $308,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of MET. Intl Fcstone Inc. bought a new stake in MetLife during the 2nd quarter valued at approximately $383,000. Griffin Asset Management Inc. bought a new stake in MetLife during the 2nd quarter valued at approximately $2,424,000. Farmers National Bank bought a new stake in MetLife during the 2nd quarter valued at approximately $118,000. RNC Capital Management LLC raised its stake in MetLife by 3.9% during the 2nd quarter. RNC Capital Management LLC now owns 427,056 shares of the financial services provider’s stock valued at $23,462,000 after purchasing an additional 16,100 shares during the period. Finally, Sentry Investment Management LLC raised its stake in MetLife by 0.8% during the 2nd quarter. Sentry Investment Management LLC now owns 82,321 shares of the financial services provider’s stock valued at $4,523,000 after purchasing an additional 690 shares during the period. 74.22% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on MET shares. ValuEngine raised MetLife from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Royal Bank Of Canada reissued a “buy” rating and set a $56.00 target price on shares of MetLife in a research note on Wednesday, September 6th. Citigroup Inc. set a $51.00 target price on MetLife and gave the company a “sell” rating in a research note on Friday, July 7th. UBS AG reissued a “neutral” rating and set a $49.00 target price (down previously from $57.00) on shares of MetLife in a research note on Friday, September 1st. Finally, BidaskClub raised MetLife from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $57.62.
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Shares of MetLife, Inc. (MET) traded up 0.88% during trading on Wednesday, hitting $52.84. The stock had a trading volume of 1,104,340 shares. The firm has a market cap of $56.16 billion, a price-to-earnings ratio of 621.65 and a beta of 1.47. MetLife, Inc. has a 52-week low of $40.30 and a 52-week high of $53.30. The firm’s 50-day moving average is $50.03 and its 200 day moving average is $47.91.
MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, beating the 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 firm had revenue of $17.39 billion during the quarter, compared to analysts’ expectations of $17.11 billion. During the same quarter last year, the firm earned $0.83 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts expect that MetLife, Inc. will post $4.81 EPS for the current year.
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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