M&T Bank Corp Trims Stock Position in MetLife, Inc. $MET

M&T Bank Corp reduced its stake in MetLife, Inc. (NYSE:MET) by 89.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 74,254 shares of the financial services provider’s stock after selling 645,524 shares during the quarter. M&T Bank Corp’s holdings in MetLife were worth $5,862,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Blue Trust Inc. raised its stake in shares of MetLife by 3.6% during the third quarter. Blue Trust Inc. now owns 3,585 shares of the financial services provider’s stock worth $295,000 after purchasing an additional 125 shares during the last quarter. Trustmark Bank Trust Department increased its stake in MetLife by 4.6% in the 3rd quarter. Trustmark Bank Trust Department now owns 2,870 shares of the financial services provider’s stock valued at $236,000 after buying an additional 127 shares during the period. Daymark Wealth Partners LLC increased its stake in MetLife by 4.2% in the 3rd quarter. Daymark Wealth Partners LLC now owns 3,192 shares of the financial services provider’s stock valued at $263,000 after buying an additional 130 shares during the period. Cornerstone Wealth Group LLC raised its position in MetLife by 4.9% during the 3rd quarter. Cornerstone Wealth Group LLC now owns 2,790 shares of the financial services provider’s stock worth $230,000 after buying an additional 130 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of MetLife by 1.9% in the 3rd quarter. UMB Bank n.a. now owns 7,040 shares of the financial services provider’s stock worth $580,000 after acquiring an additional 132 shares during the period. Institutional investors and hedge funds own 94.99% of the company’s stock.

MetLife Trading Up 2.1%

Shares of MET opened at $77.66 on Friday. MetLife, Inc. has a twelve month low of $67.33 and a twelve month high of $83.85. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $50.64 billion, a P/E ratio of 16.52, a PEG ratio of 0.67 and a beta of 0.74. The firm’s 50-day moving average is $73.10 and its two-hundred day moving average is $76.64.

MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.15. The company had revenue of $52.44 billion during the quarter, compared to the consensus estimate of $31.43 billion. MetLife had a net margin of 4.38% and a return on equity of 21.81%. The company’s revenue for the quarter was up 27.6% on a year-over-year basis. During the same period last year, the firm earned $2.08 EPS. On average, research analysts predict that MetLife, Inc. will post 9.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MET shares. Wall Street Zen raised shares of MetLife from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Barclays reduced their price objective on shares of MetLife from $92.00 to $89.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. TD Cowen dropped their target price on MetLife from $91.00 to $88.00 and set a “buy” rating on the stock in a research report on Wednesday, March 11th. Bank of America cut their target price on MetLife from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Finally, Mizuho reduced their price target on MetLife from $100.00 to $93.00 and set an “outperform” rating for the company in a report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $93.38.

About MetLife

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.