Metlife Inc (MET) Shares Bought by First Manhattan Co.

First Manhattan Co. boosted its stake in shares of Metlife Inc (NYSE:MET) by 41.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,232 shares of the financial services provider’s stock after acquiring an additional 359 shares during the period. First Manhattan Co.’s holdings in Metlife were worth $52,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of MET. GSA Capital Partners LLP acquired a new stake in shares of Metlife in the third quarter valued at about $353,000. Mackenzie Financial Corp increased its position in Metlife by 19.4% during the third quarter. Mackenzie Financial Corp now owns 10,796 shares of the financial services provider’s stock worth $504,000 after purchasing an additional 1,753 shares during the last quarter. Kentucky Retirement Systems acquired a new stake in Metlife during the third quarter worth about $4,991,000. Nordea Investment Management AB increased its position in Metlife by 6.2% during the third quarter. Nordea Investment Management AB now owns 2,155,582 shares of the financial services provider’s stock worth $100,708,000 after purchasing an additional 125,658 shares during the last quarter. Finally, NorthCoast Asset Management LLC acquired a new stake in Metlife during the third quarter worth about $2,194,000. Institutional investors and hedge funds own 76.88% of the company’s stock.

Shares of MET stock opened at $45.32 on Friday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.26. The stock has a market cap of $43.38 billion, a price-to-earnings ratio of 8.41, a P/E/G ratio of 0.98 and a beta of 1.18. Metlife Inc has a 1-year low of $37.76 and a 1-year high of $48.92.

Metlife (NYSE:MET) last announced its earnings results on Wednesday, February 6th. The financial services provider reported $1.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.05. The company had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.84 billion. Metlife had a net margin of 7.53% and a return on equity of 10.24%. Metlife’s revenue was up .0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 earnings per share. Equities research analysts anticipate that Metlife Inc will post 5.48 earnings per share for the current fiscal year.

Several equities research analysts recently issued reports on the stock. Deutsche Bank raised their price objective on shares of Metlife from $46.00 to $47.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Sandler O’Neill cut shares of Metlife from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research report on Tuesday, March 19th. Zacks Investment Research cut shares of Metlife from a “buy” rating to a “hold” rating in a research report on Monday, January 21st. ValuEngine upgraded shares of Metlife from a “sell” rating to a “hold” rating in a research report on Wednesday, January 16th. Finally, UBS Group raised their price objective on shares of Metlife from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $52.76.

In other Metlife news, EVP Steven J. Goulart sold 10,292 shares of the stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $44.40, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO John D. Mccallion sold 2,669 shares of the stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $44.43, for a total transaction of $118,583.67. Following the transaction, the chief financial officer now directly owns 20,538 shares of the company’s stock, valued at approximately $912,503.34. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

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About Metlife

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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Institutional Ownership by Quarter for Metlife (NYSE:MET)

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