Advisory Services Network LLC Boosts Holdings in MetLife, Inc. (MET)
Advisory Services Network LLC boosted its holdings in shares of MetLife, Inc. (NYSE:MET) by 19.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,665 shares of the financial services provider’s stock after acquiring an additional 1,596 shares during the quarter. Advisory Services Network LLC’s holdings in MetLife were worth $531,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of MET. Waldron LP grew its holdings in MetLife by 5.1% during the 1st quarter. Waldron LP now owns 6,492 shares of the financial services provider’s stock worth $342,000 after acquiring an additional 315 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in MetLife by 74.1% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 219,781 shares of the financial services provider’s stock worth $11,609,000 after acquiring an additional 93,569 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in MetLife by 4.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 11,153 shares of the financial services provider’s stock worth $589,000 after acquiring an additional 497 shares during the last quarter. Marietta Wealth Management LLC bought a new stake in MetLife during the 1st quarter worth approximately $416,000. Finally, Tiedemann Wealth Management LLC grew its holdings in MetLife by 98.2% during the 1st quarter. Tiedemann Wealth Management LLC now owns 17,352 shares of the financial services provider’s stock worth $917,000 after acquiring an additional 8,595 shares during the last quarter. 74.22% of the stock is currently owned by hedge funds and other institutional investors.
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MetLife, Inc. (MET) opened at 52.68 on Thursday. The company’s 50 day moving average is $50.42 and its 200-day moving average is $48.03. The firm has a market cap of $55.99 billion, a P/E ratio of 619.76 and a beta of 1.47. MetLife, Inc. has a 52-week low of $40.30 and a 52-week high of $53.30.
MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.02. The business had revenue of $17.39 billion for the quarter, compared to analysts’ expectations of $17.11 billion. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 earnings per share. On average, equities analysts predict that MetLife, Inc. will post $4.81 EPS for the current fiscal year.
A number of equities research analysts have weighed in on MET shares. TheStreet raised shares of MetLife from a “c+” rating to a “b” rating in a report on Wednesday, October 4th. Royal Bank Of Canada reissued a “buy” rating and set a $62.00 target price on shares of MetLife in a report on Wednesday, July 12th. Wells Fargo & Company reissued a “buy” rating on shares of MetLife in a report on Saturday, July 1st. Argus reduced their target price 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, Keefe, Bruyette & Woods reissued a “buy” rating and set a $59.00 target price on shares of MetLife in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $57.62.
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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