Clear Perspective Advisors LLC Continues to Hold Position in MetLife, Inc. (MET)
Clear Perspective Advisors LLC maintained its stake in shares of MetLife, Inc. (NYSE:MET) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,685 shares of the financial services provider’s stock at the end of the 2nd quarter. Clear Perspective Advisors LLC’s holdings in MetLife were worth $257,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. lifted 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 worth $3,843,457,000 after acquiring an additional 1,481,489 shares during the last quarter. Vanguard Group Inc. lifted 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 worth $3,665,769,000 after acquiring an additional 1,358,523 shares during the last quarter. State Street Corp lifted 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 worth $2,589,297,000 after acquiring an additional 680,903 shares during the last quarter. Franklin Resources Inc. lifted 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 worth $1,412,189,000 after acquiring an additional 414,032 shares during the last quarter. Finally, Geode Capital Management LLC lifted 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 worth $541,427,000 after acquiring an additional 664,918 shares during the last quarter. Institutional investors and hedge funds own 74.27% of the company’s stock.
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A number of equities research analysts have recently weighed in on the stock. Citigroup Inc. set a $51.00 price objective on shares of MetLife and gave the stock a “sell” rating in a report on Friday, July 7th. Royal Bank Of Canada restated a “buy” rating and issued a $62.00 price objective on shares of MetLife in a report on Wednesday, July 12th. Wells Fargo & Company restated an “outperform” rating and issued a $63.00 price objective (up from $61.00) on shares of MetLife in a report on Wednesday, July 12th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $59.00 price objective on shares of MetLife in a report on Thursday, August 3rd. Finally, TheStreet upgraded shares of MetLife from a “c” rating to a “b-” rating in a report on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $57.45.
Shares of MetLife, Inc. (NYSE MET) traded up 0.84% on Friday, hitting $53.02. 5,112,059 shares of the company traded hands. MetLife, Inc. has a 1-year low of $40.30 and a 1-year high of $53.27. The stock has a market capitalization of $56.35 billion, a price-to-earnings ratio of 623.76 and a beta of 1.47. The firm’s 50 day moving average price is $49.14 and its 200-day moving average price is $47.66.
MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, beating 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%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 earnings per share. On average, equities research analysts expect that MetLife, Inc. will post $4.71 earnings per share for the current year.
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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