Argent Capital Management LLC decreased its holdings in MetLife, Inc. (NYSE:MET) by 18.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 242,607 shares of the financial services provider’s stock after selling 56,668 shares during the quarter. Argent Capital Management LLC’s holdings in MetLife were worth $13,329,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in MET. BlackRock Inc. raised its stake in shares of MetLife by 3,323.3% in the 1st quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock valued at $3,616,895,000 after buying an additional 66,475,603 shares in the last quarter. Epoch Investment Partners Inc. acquired a new position in shares of MetLife in the 2nd quarter valued at $183,290,000. Vanguard Group Inc. raised its stake in shares of MetLife by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 65,364,620 shares of the financial services provider’s stock valued at $3,452,559,000 after buying an additional 1,885,246 shares in the last quarter. TD Asset Management Inc. raised its stake in shares of MetLife by 47.7% in the 2nd quarter. TD Asset Management Inc. now owns 5,201,238 shares of the financial services provider’s stock valued at $285,756,000 after buying an additional 1,679,740 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of MetLife in the 1st quarter valued at $82,954,000. Institutional investors own 74.25% of the company’s stock.
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A number of equities analysts have recently issued reports on MET shares. TheStreet cut shares of MetLife from a “b-” rating to a “c+” rating in a research note on Monday, August 21st. BidaskClub cut shares of MetLife from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. ValuEngine upgraded shares of MetLife from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Wells Fargo & Company reiterated an “outperform” rating and set a $63.00 target price (up previously from $61.00) on shares of MetLife in a research report on Wednesday, July 12th. Finally, UBS AG reiterated a “neutral” rating and set a $49.00 target price (down previously from $57.00) on shares of MetLife in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $57.38.
Shares of MetLife, Inc. (NYSE:MET) traded down 0.83% during midday trading on Wednesday, hitting $52.70. 833,993 shares of the company were exchanged. MetLife, Inc. has a one year low of $40.53 and a one year high of $53.30. The company has a market capitalization of $55.92 billion, a P/E ratio of 40.23 and a beta of 1.47. The company has a 50-day moving average of $49.50 and a 200 day moving average of $47.78.
MetLife (NYSE:MET) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.02. The firm had revenue of $17.39 billion during the quarter, compared to the consensus estimate of $17.11 billion. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.83 earnings per share. On average, equities research analysts expect that MetLife, Inc. will post $4.62 earnings per share for the current fiscal year.
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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