Mercer Global Advisors Inc. ADV reduced its stake in MetLife, Inc. (NYSE:MET – Get Rating) by 34.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 79,330 shares of the financial services provider’s stock after selling 41,490 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in MetLife were worth $4,957,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of the business. BlackRock Inc. boosted its stake in MetLife by 4.4% in the third quarter. BlackRock Inc. now owns 74,182,879 shares of the financial services provider’s stock valued at $4,579,308,000 after acquiring an additional 3,123,446 shares during the period. Geode Capital Management LLC boosted its position in shares of MetLife by 8.4% during the third quarter. Geode Capital Management LLC now owns 12,975,835 shares of the financial services provider’s stock worth $798,819,000 after buying an additional 1,003,429 shares during the period. Morgan Stanley boosted its position in shares of MetLife by 1.9% during the third quarter. Morgan Stanley now owns 10,007,331 shares of the financial services provider’s stock worth $617,754,000 after buying an additional 187,448 shares during the period. Barclays PLC boosted its position in shares of MetLife by 5.7% during the third quarter. Barclays PLC now owns 8,236,037 shares of the financial services provider’s stock worth $508,410,000 after buying an additional 444,449 shares during the period. Finally, Pzena Investment Management LLC boosted its position in shares of MetLife by 0.8% during the third quarter. Pzena Investment Management LLC now owns 5,316,817 shares of the financial services provider’s stock worth $328,207,000 after buying an additional 41,337 shares during the period. Institutional investors own 88.85% of the company’s stock.
Several equities analysts have recently issued reports on the company. Piper Sandler boosted their price objective on MetLife from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 6th. Jefferies Financial Group initiated coverage on MetLife in a research report on Tuesday, January 25th. They issued a “buy” rating and a $74.00 target price for the company. Wells Fargo & Company cut their target price on MetLife from $75.00 to $74.00 and set an “overweight” rating for the company in a research report on Tuesday, January 4th. Wolfe Research assumed coverage on MetLife in a research report on Friday, January 21st. They issued a “market perform” rating and a $70.00 target price for the company. Finally, Barclays boosted their target price on shares of MetLife from $76.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday, April 12th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $74.14.
MetLife (NYSE:MET – Get Rating) last released its quarterly earnings results on Wednesday, February 2nd. The financial services provider reported $2.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.75. MetLife had a net margin of 9.22% and a return on equity of 11.96%. The company had revenue of $20.21 billion during the quarter, compared to analysts’ expectations of $17.67 billion. During the same period in the prior year, the company earned $2.03 earnings per share. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, equities research analysts anticipate that MetLife, Inc. will post 7.14 EPS for the current fiscal year.
In other MetLife news, EVP Steven J. Goulart sold 56,857 shares of the company’s stock in a transaction dated Tuesday, February 8th. The shares were sold at an average price of $70.29, for a total transaction of $3,996,478.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by corporate insiders.
About MetLife (Get Rating)
MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. 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, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.
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