Griffin Asset Management Inc. Takes $2.42 Million Position in MetLife, Inc. (MET)
Griffin Asset Management Inc. purchased a new stake in shares of MetLife, Inc. (NYSE:MET) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 44,127 shares of the financial services provider’s stock, valued at approximately $2,424,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Farmers National Bank bought a new stake in shares of MetLife in the second quarter valued at about $118,000. Westside Investment Management Inc. lifted its stake in shares of MetLife by 583.8% in the first quarter. Westside Investment Management Inc. now owns 2,694 shares of the financial services provider’s stock valued at $140,000 after buying an additional 2,300 shares during the period. Parallel Advisors LLC lifted its stake in shares of MetLife by 50.7% in the first quarter. Parallel Advisors LLC now owns 2,748 shares of the financial services provider’s stock valued at $143,000 after buying an additional 924 shares during the period. First Mercantile Trust Co. lifted its stake in shares of MetLife by 3.4% in the second quarter. First Mercantile Trust Co. now owns 2,926 shares of the financial services provider’s stock valued at $161,000 after buying an additional 97 shares during the period. Finally, Carroll Financial Associates Inc. lifted its stake in shares of MetLife by 5.8% in the second quarter. Carroll Financial Associates Inc. now owns 3,013 shares of the financial services provider’s stock valued at $165,000 after buying an additional 166 shares during the period. Institutional investors own 74.22% of the company’s stock.
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MET has been the subject of several research reports. ValuEngine upgraded shares of MetLife from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. BidaskClub upgraded shares of MetLife from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Wells Fargo & Co reiterated a “buy” rating on shares of MetLife in a research note on Saturday, July 1st. Citigroup Inc. set a $51.00 target price on shares of MetLife and gave the company a “sell” rating in a research note on Friday, July 7th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $62.00 target price on shares of MetLife in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. MetLife presently has a consensus rating of “Buy” and a consensus target price of $57.62.
MetLife, Inc. (NYSE:MET) traded up 0.62% on Friday, reaching $53.32. 1,012,885 shares of the company traded hands. The stock has a 50-day moving average price of $50.59 and a 200-day moving average price of $48.06. The firm has a market cap of $56.67 billion, a P/E ratio of 627.29 and a beta of 1.47. MetLife, Inc. has a 52-week low of $40.30 and a 52-week high of $53.58.
MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.02. The firm had revenue of $17.39 billion during the quarter, compared to the consensus estimate of $17.11 billion. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.83 EPS. Analysts anticipate that MetLife, Inc. will post $4.80 earnings per share for the current fiscal 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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