New Mexico Educational Retirement Board trimmed its position in shares of Metlife Inc (NYSE:MET) by 2.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 82,287 shares of the financial services provider’s stock after selling 2,400 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Metlife were worth $3,503,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. JNBA Financial Advisors acquired a new position in shares of Metlife in the fourth quarter worth approximately $26,000. Bruderman Asset Management LLC acquired a new position in shares of Metlife in the fourth quarter worth approximately $27,000. Berman Capital Advisors LLC acquired a new position in shares of Metlife in the fourth quarter worth approximately $31,000. Executive Wealth Management LLC acquired a new position in shares of Metlife in the fourth quarter worth approximately $34,000. Finally, Country Trust Bank lifted its stake in shares of Metlife by 1,052.6% in the fourth quarter. Country Trust Bank now owns 876 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 800 shares during the period. 76.88% of the stock is currently owned by hedge funds and other institutional investors.
MET has been the topic of a number of recent analyst reports. Sandler O’Neill raised Metlife from a “hold” rating to a “buy” rating in a research note on Wednesday, January 2nd. Wells Fargo & Co reaffirmed a “buy” rating on shares of Metlife in a research note on Tuesday, January 8th. Bank of America raised Metlife from a “neutral” rating to a “buy” rating and set a $44.06 price target on the stock in a research note on Wednesday, January 16th. ValuEngine raised Metlife from a “sell” rating to a “hold” rating in a research note on Wednesday, January 16th. Finally, Zacks Investment Research lowered Metlife from a “buy” rating to a “hold” rating in a research note on Monday, January 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Metlife presently has a consensus rating of “Hold” and a consensus price target of $52.76.
In other news, CFO John D. Mccallion sold 2,669 shares of the business’s stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $44.43, for a total transaction of $118,583.67. Following the completion of the sale, the chief financial officer now owns 20,538 shares in the company, valued at $912,503.34. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Steven J. Goulart sold 10,292 shares of the business’s stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $44.40, for a total value of $456,964.80. Following the sale, the executive vice president now owns 93,214 shares of the company’s stock, valued at approximately $4,138,701.60. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.
Shares of MET opened at $46.19 on Wednesday. Metlife Inc has a 52-week low of $37.76 and a 52-week high of $48.92. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $44.22 billion, a price-to-earnings ratio of 8.57, a price-to-earnings-growth ratio of 0.98 and a beta of 1.18.
Metlife (NYSE:MET) last issued its quarterly earnings results on Wednesday, February 6th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.05. The firm had revenue of $15.40 billion for the quarter, compared to analyst estimates of $15.84 billion. Metlife had a return on equity of 10.24% and a net margin of 7.53%. The company’s revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.64 earnings per share. Equities analysts predict that Metlife Inc will post 5.48 earnings per share for the current year.
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Metlife Company Profile
MetLife, Inc 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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