Griffin Asset Management Inc. decreased its stake in shares of Metlife Inc (NYSE:MET) by 3.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 60,049 shares of the financial services provider’s stock after selling 2,125 shares during the quarter. Griffin Asset Management Inc.’s holdings in Metlife were worth $2,466,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the business. Canada Pension Plan Investment Board lifted its holdings in shares of Metlife by 4.5% during the third quarter. Canada Pension Plan Investment Board now owns 132,310 shares of the financial services provider’s stock valued at $6,182,000 after acquiring an additional 5,699 shares during the period. Brown Advisory Inc. raised its holdings in Metlife by 6.2% during the 3rd quarter. Brown Advisory Inc. now owns 32,940 shares of the financial services provider’s stock worth $1,540,000 after purchasing an additional 1,935 shares during the last quarter. Standard Life Aberdeen plc raised its holdings in Metlife by 5.9% during the 3rd quarter. Standard Life Aberdeen plc now owns 452,731 shares of the financial services provider’s stock worth $21,152,000 after purchasing an additional 25,038 shares during the last quarter. United Services Automobile Association raised its holdings in Metlife by 1.9% during the 3rd quarter. United Services Automobile Association now owns 927,686 shares of the financial services provider’s stock worth $43,341,000 after purchasing an additional 17,444 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Metlife during the 3rd quarter worth about $353,000. 76.88% of the stock is currently owned by hedge funds and other institutional investors.
MET has been the subject of several recent research reports. Zacks Investment Research cut Metlife from a “buy” rating to a “hold” rating in a report on Monday, January 21st. Wells Fargo & Co reissued a “buy” rating on shares of Metlife in a report on Tuesday, January 8th. Sandler O’Neill raised Metlife from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. Bank of America raised Metlife from a “neutral” rating to a “buy” rating and set a $44.06 price objective for the company in a report on Wednesday, January 16th. Finally, ValuEngine raised Metlife from a “sell” rating to a “hold” rating in a report on Wednesday, January 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. Metlife has a consensus rating of “Hold” and an average target price of $52.76.
Metlife (NYSE:MET) last issued its quarterly earnings data on Wednesday, February 6th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.05. Metlife had a return on equity of 10.24% and a net margin of 7.53%. The business had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.84 billion. During the same period in the previous year, the firm earned $0.64 EPS. Metlife’s quarterly revenue was up .0% compared to the same quarter last year. Research analysts anticipate that Metlife Inc will post 5.48 EPS for the current fiscal year.
In related news, CFO John D. Mccallion sold 2,669 shares of the business’s stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $44.43, for a total value of $118,583.67. Following the completion of the transaction, the chief financial officer now directly owns 20,538 shares in the company, valued at approximately $912,503.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven J. Goulart sold 10,292 shares of the business’s stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $44.40, for a total value of $456,964.80. Following the completion of the transaction, the executive vice president now owns 93,214 shares of the company’s stock, valued at $4,138,701.60. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.
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Metlife Company Profile
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short- and long-term disability, individual disability, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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