Metlife Inc (MET) Holdings Raised by Bank of The West
Bank of The West grew its position in Metlife Inc (NYSE:MET) by 7.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,657 shares of the financial services provider’s stock after purchasing an additional 6,331 shares during the quarter. Bank of The West’s holdings in Metlife were worth $4,114,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Banced Corp grew its position in shares of Metlife by 3.0% in the 4th quarter. Banced Corp now owns 8,156 shares of the financial services provider’s stock valued at $335,000 after buying an additional 236 shares during the last quarter. Wetherby Asset Management Inc. boosted its stake in shares of Metlife by 1.6% in the 4th quarter. Wetherby Asset Management Inc. now owns 15,615 shares of the financial services provider’s stock valued at $641,000 after buying an additional 239 shares during the period. Adirondack Trust Co. raised its holdings in shares of Metlife by 3.2% in the 4th quarter. Adirondack Trust Co. now owns 8,196 shares of the financial services provider’s stock valued at $337,000 after purchasing an additional 256 shares in the last quarter. Fulton Bank N.A. raised its stake in Metlife by 4.1% in the fourth quarter. Fulton Bank N.A. now owns 6,637 shares of the financial services provider’s stock valued at $272,000 after buying an additional 262 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA lifted its stake in Metlife by 22.5% during the fourth quarter. San Francisco Sentry Investment Group CA now owns 1,433 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 263 shares during the last quarter. Institutional investors and hedge funds own 76.85% of the company’s stock.
In related news, EVP Steven J. Goulart sold 10,292 shares of Metlife stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $44.40, for a total value of $456,964.80. Following the transaction, the executive vice president now directly owns 93,214 shares of the company’s stock, valued at $4,138,701.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John D. Mccallion sold 2,669 shares of Metlife stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $44.43, for a total transaction of $118,583.67. Following the completion of the transaction, the chief financial officer now directly owns 20,538 shares in the company, valued at $912,503.34. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.
Metlife (NYSE:MET) last issued its quarterly earnings results on Wednesday, February 6th. The financial services provider reported $1.35 EPS for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.05. The company had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.84 billion. Metlife had a return on equity of 10.24% and a net margin of 7.53%. Metlife’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the business earned $0.64 earnings per share. Research analysts predict that Metlife Inc will post 5.48 EPS for the current fiscal year.
A number of brokerages have recently issued reports on MET. Sandler O’Neill lowered shares of Metlife from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research report on Tuesday, March 19th. Zacks Investment Research lowered shares of Metlife from a “buy” rating to a “hold” rating in a research note on Monday, January 21st. ValuEngine upgraded shares of Metlife from a “sell” rating to a “hold” rating in a research report on Wednesday, January 16th. UBS Group boosted their price objective on Metlife from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Bank of America raised Metlife from a “neutral” rating to a “buy” rating and set a $44.06 price target for the company in a report on Wednesday, January 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $52.84.
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. 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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