Mackay Shields LLC Cuts Holdings in MetLife, Inc. (NYSE:MET)

Mackay Shields LLC decreased its position in shares of MetLife, Inc. (NYSE:METGet Rating) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,141 shares of the financial services provider’s stock after selling 4,426 shares during the period. Mackay Shields LLC’s holdings in MetLife were worth $6,695,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. grew its position in shares of MetLife by 4.4% during 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 purchasing an additional 3,123,446 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of MetLife by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 12,975,835 shares of the financial services provider’s stock valued at $798,819,000 after acquiring an additional 1,003,429 shares during the last quarter. Morgan Stanley lifted its holdings in shares of MetLife by 1.9% in the 3rd quarter. Morgan Stanley now owns 10,007,331 shares of the financial services provider’s stock valued at $617,754,000 after acquiring an additional 187,448 shares during the last quarter. Barclays PLC lifted its holdings in shares of MetLife by 5.7% in the 3rd quarter. Barclays PLC now owns 8,236,037 shares of the financial services provider’s stock valued at $508,410,000 after acquiring an additional 444,449 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its holdings in shares of MetLife by 0.8% in the 3rd quarter. Pzena Investment Management LLC now owns 5,316,817 shares of the financial services provider’s stock valued at $328,207,000 after acquiring an additional 41,337 shares during the last quarter. Hedge funds and other institutional investors own 88.85% of the company’s stock.

Shares of MET stock opened at $70.64 on Monday. The firm has a market cap of $58.28 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 1.33 and a beta of 1.18. The company’s 50 day moving average is $68.64 and its 200 day moving average is $65.58. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.22. MetLife, Inc. has a 52-week low of $55.21 and a 52-week high of $72.55.

MetLife (NYSE:METGet Rating) last issued its quarterly earnings data on Wednesday, February 2nd. The financial services provider reported $2.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.75. The company had revenue of $20.21 billion for the quarter, compared to analyst estimates of $17.67 billion. MetLife had a net margin of 9.22% and a return on equity of 11.96%. MetLife’s revenue was down 1.8% compared to the same quarter last year. During the same period last year, the company posted $2.03 earnings per share. Analysts anticipate that MetLife, Inc. will post 7.14 EPS for the current fiscal year.

In related news, EVP Steven J. Goulart sold 56,857 shares of MetLife stock in a transaction that occurred on Tuesday, February 8th. The shares were sold at an average price of $70.29, for a total transaction of $3,996,478.53. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

A number of research analysts recently commented on MET shares. Morgan Stanley increased their price target on shares of MetLife from $76.00 to $79.00 and gave the company an “overweight” rating in a report on Tuesday, February 22nd. Barclays raised their price objective on shares of MetLife from $76.00 to $79.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 12th. StockNews.com started coverage on shares of MetLife in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Piper Sandler raised their price objective on shares of MetLife from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 6th. Finally, JPMorgan Chase & Co. raised their price objective on shares of MetLife from $69.00 to $75.00 in a research note on Tuesday, April 5th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, MetLife currently has an average rating of “Buy” and an average price target of $74.14.

MetLife Company Profile (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.

Further Reading

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Institutional Ownership by Quarter for MetLife (NYSE:MET)

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