Redpoint Investment Management Pty Ltd cut its stake in shares of MetLife, Inc. (NYSE:MET) by 54.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,003 shares of the financial services provider’s stock after selling 23,028 shares during the quarter. Redpoint Investment Management Pty Ltd’s holdings in MetLife were worth $706,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Watson Rebecca acquired a new stake in MetLife in the second quarter valued at approximately $27,000. Lenox Wealth Advisors LLC grew its holdings in MetLife by 124.6% during the 2nd quarter. Lenox Wealth Advisors LLC now owns 1,103 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 612 shares in the last quarter. Financial Management Professionals Inc. increased its position in shares of MetLife by 1,331.3% in the 2nd quarter. Financial Management Professionals Inc. now owns 1,417 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 1,318 shares during the last quarter. Pinnacle Bank raised its holdings in shares of MetLife by 29.2% in the 2nd quarter. Pinnacle Bank now owns 1,433 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 324 shares in the last quarter. Finally, Cordasco Financial Network raised its holdings in shares of MetLife by 215.0% in the 2nd quarter. Cordasco Financial Network now owns 1,575 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 1,075 shares in the last quarter. Hedge funds and other institutional investors own 74.92% of the company’s stock.
MET opened at $39.48 on Monday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.20. MetLife, Inc. has a 52 week low of $22.85 and a 52 week high of $53.28. The business’s 50 day moving average is $38.12 and its two-hundred day moving average is $36.08. The firm has a market cap of $35.83 billion, a price-to-earnings ratio of 5.13, a price-to-earnings-growth ratio of 1.62 and a beta of 1.28.
MetLife (NYSE:MET) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.07). The business had revenue of $13.85 billion for the quarter, compared to analysts’ expectations of $15.36 billion. MetLife had a return on equity of 7.71% and a net margin of 10.65%. Equities analysts expect that MetLife, Inc. will post 5.54 EPS for the current fiscal year.
MET has been the topic of several recent analyst reports. Credit Suisse Group reissued a “buy” rating and issued a $46.00 target price on shares of MetLife in a report on Friday, September 18th. Morgan Stanley raised their target price on MetLife from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 6th. Argus restated a “buy” rating on shares of MetLife in a research note on Wednesday, August 19th. Finally, Wells Fargo & Company restated a “buy” rating and set a $45.00 price objective on shares of MetLife in a research report on Thursday, August 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $41.71.
In other MetLife news, Director Catherine R. Kinney sold 3,657 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $39.50, for a total transaction of $144,451.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.07% of the stock is owned by corporate insiders.
MetLife Company Profile
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses worldwide. 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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