Quantitative Systematic Strategies LLC boosted its position in shares of MetLife Inc. (NYSE:MET) by 15.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,527 shares of the company’s stock after buying an additional 2,106 shares during the period. Quantitative Systematic Strategies LLC’s holdings in MetLife were worth $609,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in shares of MetLife during the second quarter worth approximately $110,000. ClariVest Asset Management LLC raised its stake in shares of MetLife by 0.3% in the second quarter. ClariVest Asset Management LLC now owns 2,806 shares of the company’s stock worth $112,000 after buying an additional 8 shares during the last quarter. Manchester Capital Management LLC raised its stake in shares of MetLife by 0.3% in the second quarter. Manchester Capital Management LLC now owns 2,891 shares of the company’s stock worth $115,000 after buying an additional 9 shares during the last quarter. First New York Securities LLC NY purchased a new stake in shares of MetLife during the second quarter worth approximately $119,000. Finally, Independent Portfolio Consultants Inc. raised its stake in shares of MetLife by 21.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 3,355 shares of the company’s stock worth $134,000 after buying an additional 595 shares during the last quarter. 74.81% of the stock is currently owned by hedge funds and other institutional investors.
MetLife Inc. (NYSE:MET) traded down 1.820% during midday trading on Thursday, hitting $46.655. The stock had a trading volume of 3,502,932 shares. The company has a market cap of $51.27 billion, a P/E ratio of 12.261 and a beta of 1.84. MetLife Inc. has a 12 month low of $35.00 and a 12 month high of $52.45. The firm’s 50-day moving average price is $44.19 and its 200 day moving average price is $43.19.
MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $1.35 by $0.52. The firm had revenue of $17 billion for the quarter, compared to the consensus estimate of $17.35 billion. MetLife had a net margin of 6.49% and a return on equity of 6.18%. MetLife’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.56 earnings per share. On average, analysts expect that MetLife Inc. will post $4.64 earnings per share for the current fiscal year.
A number of brokerages have recently commented on MET. Argus set a $54.00 price target on MetLife and gave the company a “buy” rating in a research note on Friday, October 7th. Zacks Investment Research raised MetLife from a “sell” rating to a “hold” rating in a research note on Thursday, July 7th. Deutsche Bank AG reissued a “hold” rating and set a $44.00 price target on shares of MetLife in a research note on Saturday, October 8th. Bank of America Corp. set a $51.00 price target on MetLife and gave the company a “buy” rating in a research note on Thursday, October 6th. Finally, Credit Suisse Group AG began coverage on MetLife in a research note on Friday, October 7th. They set a “neutral” rating and a $51.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. MetLife currently has a consensus rating of “Buy” and an average price target of $51.95.
In other news, EVP Maria R. Morris sold 8,800 shares of the stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $45.00, for a total transaction of $396,000.00. Following the transaction, the executive vice president now directly owns 116,409 shares in the company, valued at approximately $5,238,405. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Maria R. Morris sold 2,000 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $42.96, for a total value of $85,920.00. Following the transaction, the executive vice president now owns 109,273 shares in the company, valued at $4,694,368.08. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.
MetLife, Inc (MetLife) is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include Retail; Group, Voluntary & Worksite Benefits; Corporate Benefit Funding; Latin America (collectively, the Americas); Asia, and Europe, the Middle East and Africa (EMEA).
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