Todays Report: The Huntington National Bank Sold shares of MetLife Inc. (MET)

The Huntington National Bank Sold shares of MetLife Inc. (MET)

Huntington National Bank lowered its position in MetLife Inc. (NYSE:MET) by 41.8% during the second quarter, Holdings Channel reports. The fund owned 125,174 shares of the company’s stock after selling 90,034 shares during the period. Huntington National Bank’s holdings in MetLife were worth $4,986,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP boosted its position in MetLife by 0.6% in the first quarter. Wellington Management Group LLP now owns 34,882,341 shares of the company’s stock worth $1,532,730,000 after buying an additional 218,299 shares during the last quarter. Dodge & Cox boosted its position in MetLife by 10.2% in the first quarter. Dodge & Cox now owns 30,948,079 shares of the company’s stock worth $1,359,859,000 after buying an additional 2,861,828 shares during the last quarter. Geode Capital Management LLC boosted its position in MetLife by 1.2% in the first quarter. Geode Capital Management LLC now owns 8,977,373 shares of the company’s stock worth $393,696,000 after buying an additional 106,352 shares during the last quarter. American Century Companies Inc. boosted its position in MetLife by 20.6% in the second quarter. American Century Companies Inc. now owns 8,839,441 shares of the company’s stock worth $352,075,000 after buying an additional 1,507,242 shares during the last quarter. Finally, Legal & General Group Plc boosted its position 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 during the last quarter. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Shares of MetLife Inc. (NYSE:MET) traded up 0.45% during midday trading on Friday, hitting $46.89. The stock had a trading volume of 7,848,618 shares. The stock has a market cap of $51.53 billion, a PE ratio of 12.32 and a beta of 1.84. MetLife Inc. has a 12 month low of $35.00 and a 12 month high of $52.45. The stock’s 50-day moving average is $44.51 and its 200-day moving average is $43.24.

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 Thomson Reuters’ consensus estimate of $1.35 by $0.52. MetLife had a net margin of 6.49% and a return on equity of 6.18%. The firm had revenue of $17 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same quarter in the prior year, the firm earned $1.56 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. Equities analysts anticipate that MetLife Inc. will post $4.64 EPS for the current year.

MET has been the topic of a number of research analyst reports. Credit Suisse Group AG started coverage on MetLife in a report on Friday, October 7th. They set a “neutral” rating and a $51.00 price target on the stock. Wells Fargo & Co. reaffirmed an “outperform” rating on shares of MetLife in a research report on Friday, September 23rd. Argus set a $54.00 target price on MetLife and gave the stock a “buy” rating in a research report on Friday, October 7th. Zacks Investment Research raised MetLife from a “sell” rating to a “hold” rating in a research report on Thursday, July 7th. Finally, Deutsche Bank AG lowered their target price on MetLife from $47.00 to $44.00 and set a “hold” rating on the stock in a research report on Thursday, July 7th. Eight analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $51.95.

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

About MetLife

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).

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