Stone Ridge Asset Management LLC acquired a new position in MetLife (NYSE:MET) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 24,220 shares of the financial services provider’s stock, valued at approximately $1,225,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Epoch Investment Partners Inc. grew its position in shares of MetLife by 208.5% during the third quarter. Epoch Investment Partners Inc. now owns 10,291,110 shares of the financial services provider’s stock worth $534,623,000 after purchasing an additional 6,954,917 shares in the last quarter. BlackRock Inc. grew its position in shares of MetLife by 1.5% during the fourth quarter. BlackRock Inc. now owns 73,196,079 shares of the financial services provider’s stock worth $3,700,792,000 after purchasing an additional 1,097,982 shares in the last quarter. TD Asset Management Inc. grew its position in shares of MetLife by 20.5% during the third quarter. TD Asset Management Inc. now owns 6,268,938 shares of the financial services provider’s stock worth $325,671,000 after purchasing an additional 1,067,700 shares in the last quarter. Alps Advisors Inc. grew its position in shares of MetLife by 9,943.0% during the fourth quarter. Alps Advisors Inc. now owns 907,988 shares of the financial services provider’s stock worth $45,908,000 after purchasing an additional 898,947 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in MetLife by 58.8% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,178,614 shares of the financial services provider’s stock valued at $113,655,000 after buying an additional 806,800 shares in the last quarter. 77.69% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:MET traded down $0.76 during trading on Friday, hitting $45.27. The company had a trading volume of 8,637,080 shares, compared to its average volume of 5,954,277. The firm has a market capitalization of $46,928.83, a price-to-earnings ratio of 10.06, a PEG ratio of 0.74 and a beta of 1.24. MetLife has a one year low of $43.38 and a one year high of $55.91. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.15 and a quick ratio of 0.15.
MetLife (NYSE:MET) last posted its quarterly earnings data on Tuesday, February 13th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.41). The company had revenue of $15.79 billion during the quarter, compared to the consensus estimate of $15.89 billion. MetLife had a net margin of 5.69% and a return on equity of 8.59%. During the same period in the previous year, the business earned $1.28 earnings per share. analysts expect that MetLife will post 4.91 earnings per share for the current fiscal year.
Several equities analysts have weighed in on the company. ValuEngine cut MetLife from a “buy” rating to a “hold” rating in a report on Friday. Sandler O’Neill set a $47.00 price target on MetLife and gave the company a “hold” rating in a report on Thursday. Morgan Stanley cut their price target on MetLife from $58.00 to $56.00 and set an “equal weight” rating for the company in a report on Thursday. Zacks Investment Research upgraded MetLife from a “sell” rating to a “hold” rating in a report on Tuesday, April 3rd. Finally, Bank of America assumed coverage on MetLife in a report on Monday, March 26th. They set a “neutral” rating and a $50.00 price target for the company. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $56.75.
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MetLife, Inc, through its subsidiaries, 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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