Sun Life Financial INC Has $436,000 Holdings in MetLife, Inc. (MET)
Sun Life Financial INC boosted its position in shares of MetLife, Inc. (NYSE:MET) by 25,487.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,932 shares of the financial services provider’s stock after purchasing an additional 7,901 shares during the period. Sun Life Financial INC’s holdings in MetLife were worth $436,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. BlackRock Inc. raised its stake in MetLife by 2.2% during the second quarter. BlackRock Inc. now owns 69,957,359 shares of the financial services provider’s stock worth $3,843,457,000 after purchasing an additional 1,481,489 shares during the period. Vanguard Group Inc. raised its stake in MetLife by 2.1% during the second quarter. Vanguard Group Inc. now owns 66,723,143 shares of the financial services provider’s stock worth $3,665,769,000 after purchasing an additional 1,358,523 shares during the period. State Street Corp raised its stake in MetLife by 1.4% during the first quarter. State Street Corp now owns 49,020,964 shares of the financial services provider’s stock worth $2,589,297,000 after purchasing an additional 680,903 shares during the period. Franklin Resources Inc. raised its stake in MetLife by 1.6% during the second quarter. Franklin Resources Inc. now owns 25,704,204 shares of the financial services provider’s stock worth $1,412,189,000 after purchasing an additional 414,032 shares during the period. Finally, Geode Capital Management LLC raised its stake in MetLife by 6.9% during the first quarter. Geode Capital Management LLC now owns 10,265,096 shares of the financial services provider’s stock worth $541,427,000 after purchasing an additional 664,918 shares during the period. 74.27% of the stock is currently owned by institutional investors.
MET has been the topic of a number of analyst reports. Royal Bank Of Canada reaffirmed a “buy” rating and set a $62.00 target price on shares of MetLife in a research note on Wednesday, July 12th. Credit Suisse Group AG reaffirmed a “neutral” rating and set a $53.00 target price (down from $64.00) on shares of MetLife in a research note on Monday, August 28th. Morgan Stanley lifted their target price on shares of MetLife from $54.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Thursday. 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 research note on Wednesday, August 9th. Finally, ValuEngine raised shares of MetLife from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. MetLife currently has an average rating of “Hold” and a consensus price target of $57.45.
Shares of MetLife, Inc. (NYSE:MET) opened at 52.58 on Friday. The company’s 50-day moving average is $48.97 and its 200 day moving average is $47.62. The stock has a market capitalization of $55.89 billion, a P/E ratio of 618.59 and a beta of 1.47. MetLife, Inc. has a 52 week low of $40.30 and a 52 week high of $53.01.
MetLife (NYSE:MET) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.02. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The business had revenue of $17.39 billion for the quarter, compared to analysts’ expectations of $17.11 billion. During the same period last year, the company earned $0.83 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities analysts forecast that MetLife, Inc. will post $4.73 EPS for the current fiscal year.
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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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