Concert Wealth Management Inc. Buys 16,372 Shares of MetLife Inc. (MET)

Concert Wealth Management Inc. raised its position in MetLife Inc. (NYSE:MET) by 70.8% during the second quarter, Holdings Channel reports. The institutional investor owned 39,496 shares of the company’s stock after buying an additional 16,372 shares during the period. Concert Wealth Management Inc.’s holdings in MetLife were worth $1,569,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Deprince Race & Zollo Inc. raised its stake in MetLife by 6.7% in the second quarter. Deprince Race & Zollo Inc. now owns 722,124 shares of the company’s stock worth $28,762,000 after buying an additional 45,507 shares in the last quarter. Hermes Investment Management Ltd. raised its stake in MetLife by 12.3% in the second quarter. Hermes Investment Management Ltd. now owns 393,115 shares of the company’s stock worth $15,658,000 after buying an additional 43,100 shares in the last quarter. Douglas Lane & Associates LLC raised its stake in MetLife by 4.6% in the second quarter. Douglas Lane & Associates LLC now owns 1,150,985 shares of the company’s stock worth $45,844,000 after buying an additional 50,215 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in MetLife by 4.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,636,668 shares of the company’s stock worth $71,915,000 after buying an additional 63,700 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in MetLife by 3.4% in the first quarter. Legal & General Group Plc now owns 4,224,663 shares of the company’s stock worth $185,659,000 after buying an additional 140,006 shares in the last quarter. Institutional investors own 74.81% of the company’s stock.

Institutional Ownership by Quarter for MetLife (NYSE:MET)

Shares of MetLife Inc. (NYSE:MET) traded up 0.34% on Wednesday, reaching $46.96. 2,829,757 shares of the company’s stock traded hands. The firm’s 50-day moving average is $44.78 and its 200-day moving average is $43.27. The stock has a market cap of $51.60 billion, a price-to-earnings ratio of 12.34 and a beta of 1.84. MetLife Inc. has a 52-week low of $35.00 and a 52-week high of $52.45.

MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $1.35 by $0.52. The firm had revenue of $17 billion for the quarter, compared to the consensus estimate of $17.35 billion. MetLife had a net margin of 6.49% and a return on equity of 6.18%. MetLife’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.56 earnings per share. Analysts anticipate that MetLife Inc. will post $4.64 EPS for the current fiscal year.

MET has been the topic of a number of analyst reports. FBR & Co upped their target price on shares of MetLife from $51.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, August 29th. Credit Suisse Group AG began coverage on shares of MetLife in a research note on Friday, October 7th. They issued a “neutral” rating and a $51.00 price objective for the company. Wells Fargo & Co. reiterated an “outperform” rating on shares of MetLife in a research note on Friday, September 23rd. TheStreet lowered shares of MetLife from a “buy” rating to a “hold” rating in a research note on Wednesday, August 24th. Finally, Bank of America Corp. set a $51.00 price objective on shares of MetLife and gave the company a “buy” rating in a research note on Thursday, October 6th. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $51.95.

In other news, EVP Maria R. Morris sold 2,000 shares of the stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $42.96, for a total transaction of $85,920.00. Following the transaction, the executive vice president now directly owns 109,273 shares of the company’s stock, valued at approximately $4,694,368.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Maria R. Morris sold 8,800 shares of the stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $45.00, for a total value of $396,000.00. Following the transaction, the executive vice president now directly owns 116,409 shares in the company, valued at $5,238,405. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

MetLife Company Profile

MetLife, Inc (MetLife) is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include Retail; Group, Voluntary & Worksite Benefits; Corporate Benefit Funding; Latin America (collectively, the Americas); Asia, and Europe, the Middle East and Africa (EMEA).

5 Day Chart for NYSE:MET

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