California State Teachers Retirement System Trims Position in MetLife, Inc. (MET)

California State Teachers Retirement System lowered its position in shares of MetLife, Inc. (NYSE:MET) by 8.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,756,823 shares of the financial services provider’s stock after selling 154,836 shares during the period. California State Teachers Retirement System owned about 0.17% of MetLife worth $96,520,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MET. Prudential Financial Inc. grew its position in shares of MetLife by 71.4% in the 2nd quarter. Prudential Financial Inc. now owns 3,672,729 shares of the financial services provider’s stock valued at $201,778,000 after buying an additional 1,529,570 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of MetLife by 5.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,555,656 shares of the financial services provider’s stock valued at $195,348,000 after buying an additional 175,311 shares during the last quarter. KBC Group NV grew its position in shares of MetLife by 14.3% in the 2nd quarter. KBC Group NV now owns 1,263,802 shares of the financial services provider’s stock valued at $69,433,000 after buying an additional 157,734 shares during the last quarter. Teacher Retirement System of Texas grew its position in shares of MetLife by 7.2% in the 1st quarter. Teacher Retirement System of Texas now owns 822,785 shares of the financial services provider’s stock valued at $43,460,000 after buying an additional 55,508 shares during the last quarter. Finally, Boston Partners grew its position in shares of MetLife by 0.5% in the 2nd quarter. Boston Partners now owns 2,010,623 shares of the financial services provider’s stock valued at $110,464,000 after buying an additional 9,845 shares during the last quarter. Institutional investors and hedge funds own 74.25% of the company’s stock.

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MET has been the topic of a number of analyst reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $62.00 price target on shares of MetLife in a research report on Wednesday, July 12th. Credit Suisse Group reiterated a “neutral” rating and issued a $53.00 price target (down previously from $64.00) on shares of MetLife in a research report on Monday, August 28th. Morgan Stanley upped their price target on MetLife from $54.00 to $55.00 and gave the company an “equal weight” rating in a research report on Thursday, October 5th. Argus reduced their price target on MetLife from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. Finally, ValuEngine upgraded MetLife from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $57.38.

Shares of MetLife, Inc. (NYSE MET) traded down 0.506% on Wednesday, hitting $52.871. The stock had a trading volume of 1,088,959 shares. The firm has a market capitalization of $56.10 billion, a price-to-earnings ratio of 40.360 and a beta of 1.47. MetLife, Inc. has a 1-year low of $40.53 and a 1-year high of $53.30. The firm has a 50 day moving average of $49.50 and a 200-day moving average of $47.78.

MetLife (NYSE:MET) last posted 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. The company had revenue of $17.39 billion for the quarter, compared to analysts’ expectations of $17.11 billion. MetLife had a return on equity of 8.51% and a net margin of 0.30%. MetLife’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.83 earnings per share. Equities analysts predict that MetLife, Inc. will post $4.62 earnings per share for the current year.

About MetLife

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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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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