Piedmont Investment Advisors LLC lessened its holdings in shares of MetLife, Inc. (NYSE:MET) by 60.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 196,252 shares of the financial services provider’s stock after selling 300,892 shares during the quarter. Piedmont Investment Advisors LLC’s holdings in MetLife were worth $10,782,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in MET. Prudential Financial Inc. raised its holdings in MetLife by 71.4% in the second quarter. Prudential Financial Inc. now owns 3,672,729 shares of the financial services provider’s stock worth $201,778,000 after purchasing an additional 1,529,570 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in MetLife by 5.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 3,555,656 shares of the financial services provider’s stock worth $195,348,000 after purchasing an additional 175,311 shares in the last quarter. KBC Group NV raised its holdings in MetLife by 14.3% in the second quarter. KBC Group NV now owns 1,263,802 shares of the financial services provider’s stock worth $69,433,000 after purchasing an additional 157,734 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in MetLife by 7.2% in the first quarter. Teacher Retirement System of Texas now owns 822,785 shares of the financial services provider’s stock worth $43,460,000 after purchasing an additional 55,508 shares in the last quarter. Finally, Boston Partners raised its holdings in MetLife by 0.5% in the second quarter. Boston Partners now owns 2,010,623 shares of the financial services provider’s stock worth $110,464,000 after purchasing an additional 9,845 shares in the last quarter. Institutional investors own 74.25% of the company’s stock.
MetLife, Inc. (NYSE:MET) traded up 0.42% during midday trading on Friday, hitting $52.95. The company had a trading volume of 885,813 shares. The stock has a market capitalization of $56.28 billion, a PE ratio of 622.94 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 stock has a 50 day moving average price of $49.82 and a 200-day moving average price of $47.85.
MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.02. The business had revenue of $17.39 billion for the quarter, compared to the consensus estimate of $17.11 billion. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.83 EPS. On average, equities analysts predict that MetLife, Inc. will post $4.62 EPS for the current year.
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MET has been the subject of a number of research reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $62.00 price objective on shares of MetLife in a report on Wednesday, July 12th. Credit Suisse Group reiterated a “neutral” rating and issued a $53.00 price objective (down previously from $64.00) on shares of MetLife in a report on Monday, August 28th. Morgan Stanley increased their price objective on MetLife from $54.00 to $55.00 and gave the stock an “equal weight” rating in a report on Thursday, October 5th. Argus decreased their price objective on MetLife from $60.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, August 9th. Finally, ValuEngine upgraded MetLife from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $57.38.
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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