CNB Bank Sells 1,797 Shares of MetLife, Inc. (NYSE:MET)

CNB Bank lessened its holdings in shares of MetLife, Inc. (NYSE:MET) by 53.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,588 shares of the financial services provider’s stock after selling 1,797 shares during the quarter. CNB Bank’s holdings in MetLife were worth $105,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. FWL Investment Management LLC bought a new stake in shares of MetLife during the 4th quarter valued at about $26,000. Studio Investment Management LLC purchased a new position in shares of MetLife during the 4th quarter valued at about $29,000. Planned Solutions Inc. purchased a new position in shares of MetLife during the 4th quarter valued at about $28,000. Eagle Bay Advisors LLC purchased a new position in shares of MetLife during the 2nd quarter valued at about $28,000. Finally, Quintet Private Bank Europe S.A. purchased a new position in shares of MetLife during the 3rd quarter valued at about $28,000. Institutional investors own 89.81% of the company’s stock.

MetLife Trading Up 1.7 %

Shares of MET traded up $1.16 during mid-day trading on Friday, hitting $71.11. 3,346,091 shares of the company’s stock traded hands, compared to its average volume of 2,499,338. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.53. MetLife, Inc. has a 1 year low of $48.95 and a 1 year high of $74.68. The firm has a market capitalization of $51.41 billion, a P/E ratio of 38.86, a PEG ratio of 0.53 and a beta of 1.04. The business’s 50-day moving average price is $71.12 and its 200-day moving average price is $66.77.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, January 31st. The financial services provider reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.02). MetLife had a net margin of 2.36% and a return on equity of 19.48%. The business had revenue of $18.72 billion for the quarter, compared to analysts’ expectations of $18.07 billion. As a group, sell-side analysts forecast that MetLife, Inc. will post 8.71 EPS for the current fiscal year.

Insider Activity at MetLife

In related news, insider Ramy Tadros sold 4,026 shares of MetLife stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total transaction of $289,469.40. Following the sale, the insider now directly owns 146,981 shares in the company, valued at $10,567,933.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other MetLife news, EVP Bill Pappas sold 27,000 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $72.27, for a total value of $1,951,290.00. Following the sale, the executive vice president now directly owns 57,768 shares of the company’s stock, valued at $4,174,893.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ramy Tadros sold 4,026 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total value of $289,469.40. Following the completion of the sale, the insider now directly owns 146,981 shares in the company, valued at $10,567,933.90. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MET. Keefe, Bruyette & Woods raised their price objective on MetLife from $82.00 to $87.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. UBS Group decreased their price objective on MetLife from $87.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, February 5th. Wells Fargo & Company raised their price objective on MetLife from $83.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Morgan Stanley lifted their price target on MetLife from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, The Goldman Sachs Group raised MetLife from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $70.00 to $80.00 in a research note on Monday, January 8th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $79.23.

MetLife Profile

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; 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, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.