Whittier Trust Co. Decreases Position in MetLife Inc. (MET)
Whittier Trust Co. decreased its position in MetLife Inc. (NYSE:MET) by 1.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 82,722 shares of the company’s stock after selling 1,508 shares during the period. Whittier Trust Co.’s holdings in MetLife were worth $3,294,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. ClariVest Asset Management LLC boosted its position in 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 boosted its position in 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. Private Bank & Trust Co. boosted its position in MetLife by 0.5% in the second quarter. Private Bank & Trust Co. now owns 7,515 shares of the company’s stock worth $300,000 after buying an additional 40 shares during the last quarter. Washington Trust Bank boosted its position in MetLife by 1.2% in the second quarter. Washington Trust Bank now owns 6,208 shares of the company’s stock worth $247,000 after buying an additional 71 shares during the last quarter. Finally, Adirondack Trust Co. boosted its position in MetLife by 0.7% in the second quarter. Adirondack Trust Co. now owns 12,277 shares of the company’s stock worth $489,000 after buying an additional 91 shares during the last quarter. 74.80% of the stock is currently owned by institutional investors and hedge funds.
Shares of MetLife Inc. (NYSE:MET) traded up 2.52% during midday trading on Thursday, reaching $47.15. 13,752,420 shares of the company’s stock were exchanged. MetLife Inc. has a 1-year low of $35.00 and a 1-year high of $52.45. The company has a market capitalization of $51.81 billion, a PE ratio of 12.39 and a beta of 1.84. The firm has a 50-day moving average of $43.20 and a 200-day moving average of $43.05.
MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.35 by $0.52. The company 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%. The firm’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.56 earnings per share. Equities analysts expect that MetLife Inc. will post $4.64 earnings per share for the current fiscal year.
A number of research firms have recently commented on MET. Zacks Investment Research raised shares of MetLife from a “sell” rating to a “hold” rating in a research report on Thursday, July 7th. Argus reaffirmed a “buy” rating and issued a $54.00 price target on shares of MetLife in a report on Wednesday, September 7th. Deutsche Bank AG cut shares of MetLife from a “buy” rating to a “hold” rating and cut their price target for the company from $47.00 to $44.00 in a report on Wednesday, July 13th. Citigroup Inc. cut their price target on shares of MetLife from $46.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday, July 7th. Finally, Evercore ISI assumed coverage on shares of MetLife in a report on Wednesday, July 6th. They issued a “buy” rating and a $52.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $52.45.
In other MetLife news, EVP Maria R. Morris sold 2,000 shares of MetLife stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $42.96, for a total transaction of $85,920.00. Following the completion of the transaction, the executive vice president now directly owns 109,273 shares of the company’s stock, valued at $4,694,368.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.27% of the company’s stock.
MetLife Company Profile
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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