State Street Corp lowered its position in MetLife, Inc. (NYSE:MET) by 3.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,464,182 shares of the financial services provider’s stock after selling 1,556,782 shares during the period. State Street Corp owned approximately 4.47% of MetLife worth $2,607,680,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Prudential Financial Inc. grew its holdings in shares of MetLife by 71.4% in the 2nd quarter. Prudential Financial Inc. now owns 3,672,729 shares of the financial services provider’s stock worth $201,778,000 after acquiring an additional 1,529,570 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of MetLife by 5.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,555,656 shares of the financial services provider’s stock worth $195,348,000 after acquiring an additional 175,311 shares during the period. KBC Group NV grew its holdings in shares of MetLife by 14.3% in the 2nd quarter. KBC Group NV now owns 1,263,802 shares of the financial services provider’s stock worth $69,433,000 after acquiring an additional 157,734 shares during the period. Teacher Retirement System of Texas grew its holdings in shares of MetLife by 7.2% in the 1st quarter. Teacher Retirement System of Texas now owns 822,785 shares of the financial services provider’s stock worth $43,460,000 after acquiring an additional 55,508 shares during the period. Finally, Boston Partners grew its holdings in shares of MetLife by 0.5% in the 2nd quarter. Boston Partners now owns 2,010,623 shares of the financial services provider’s stock worth $110,464,000 after acquiring an additional 9,845 shares during the period. Institutional investors and hedge funds own 74.22% of the company’s stock.
Shares of MetLife, Inc. (MET) traded up 0.92% on Wednesday, hitting $52.86. The company had a trading volume of 1,091,305 shares. The company has a market cap of $56.18 billion, a price-to-earnings ratio of 621.88 and a beta of 1.47. MetLife, Inc. has a 12-month low of $40.30 and a 12-month high of $53.30. The company has a 50 day moving average of $50.03 and a 200-day moving average of $47.91.
MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.02. The firm had revenue of $17.39 billion during 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 firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.83 EPS. On average, analysts forecast that MetLife, Inc. will post $4.62 earnings per share for the current year.
MET has been the topic of a number of research reports. TheStreet upgraded MetLife from a “c+” rating to a “b” rating in a report on Wednesday, October 4th. Argus reduced their target price on MetLife from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, August 9th. Wells Fargo & Company reaffirmed a “buy” rating on shares of MetLife in a research note on Monday, August 7th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $59.00 target price on shares of MetLife in a research note on Thursday, August 3rd. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $62.00 target price on shares of MetLife in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $57.62.
ILLEGAL ACTIVITY WARNING: This news story was reported by BBNS and is the property of of BBNS. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright law. The legal version of this news story can be read at https://baseballnewssource.com/markets/metlife-inc-met-holdings-reduced-by-state-street-corp/1702225.html.
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.
Receive News & Ratings for MetLife Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MetLife Inc. and related companies with our FREE daily email newsletter.