MetLife, Inc. (MET) Shares Bought by Cullen Capital Management LLC

Cullen Capital Management LLC grew its position in MetLife, Inc. (NYSE:MET) by 3.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,414,720 shares of the financial services provider’s stock after buying an additional 41,280 shares during the period. MetLife accounts for about 2.7% of Cullen Capital Management LLC’s portfolio, making the stock its 8th largest position. Cullen Capital Management LLC owned approximately 0.13% of MetLife worth $77,725,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of MetLife by 2.2% in the 2nd quarter. BlackRock Inc. now owns 69,957,359 shares of the financial services provider’s stock valued at $3,843,457,000 after buying an additional 1,481,489 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of MetLife by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 66,723,143 shares of the financial services provider’s stock valued at $3,665,769,000 after buying an additional 1,358,523 shares in the last quarter. State Street Corp boosted its holdings in shares of MetLife by 1.4% in the 1st quarter. State Street Corp now owns 49,020,964 shares of the financial services provider’s stock valued at $2,589,297,000 after buying an additional 680,903 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of MetLife by 1.6% in the 2nd quarter. Franklin Resources Inc. now owns 25,704,204 shares of the financial services provider’s stock valued at $1,412,189,000 after buying an additional 414,032 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of MetLife by 6.9% in the 1st quarter. Geode Capital Management LLC now owns 10,265,096 shares of the financial services provider’s stock valued at $541,427,000 after buying an additional 664,918 shares in the last quarter. Institutional investors and hedge funds own 74.25% of the company’s stock.

MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, topping the consensus estimate of $1.28 by $0.02. The firm had revenue of $17.39 billion for the quarter, compared to analyst estimates of $17.11 billion. MetLife had a return on equity of 8.51% and a net margin of 0.30%. MetLife’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 EPS.

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A number of analysts have recently weighed in on MET shares. Royal Bank Of Canada restated a “buy” rating and issued a $62.00 price target on shares of MetLife in a report on Wednesday, July 12th. Credit Suisse Group restated a “neutral” rating and issued a $53.00 price target (down from $64.00) on shares of MetLife in a report on Monday, August 28th. Morgan Stanley raised their price target on shares of MetLife from $54.00 to $55.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. Argus lowered their price target on shares of MetLife from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. Finally, ValuEngine upgraded shares of MetLife from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $57.38.

MetLife Company Profile

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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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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