Greenfield Savings Bank Lowers Position in MetLife, Inc. (NYSE:MET)

Greenfield Savings Bank cut its holdings in shares of MetLife, Inc. (NYSE:MET) by 2.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,951 shares of the financial services provider’s stock after selling 505 shares during the quarter. Greenfield Savings Bank’s holdings in MetLife were worth $1,728,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Mather Group LLC. grew its holdings in shares of MetLife by 31.6% during the 3rd quarter. Mather Group LLC. now owns 7,417 shares of the financial services provider’s stock worth $612,000 after purchasing an additional 1,782 shares during the period. New England Research & Management Inc. purchased a new position in shares of MetLife during the 3rd quarter worth $204,000. Diversified Trust Co grew its holdings in shares of MetLife by 93.3% during the 3rd quarter. Diversified Trust Co now owns 28,276 shares of the financial services provider’s stock worth $2,332,000 after purchasing an additional 13,651 shares during the period. GAMMA Investing LLC lifted its stake in MetLife by 29.6% during the 3rd quarter. GAMMA Investing LLC now owns 7,323 shares of the financial services provider’s stock worth $604,000 after acquiring an additional 1,672 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in MetLife by 50.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 109,120 shares of the financial services provider’s stock worth $9,000,000 after acquiring an additional 36,367 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MET has been the topic of several research reports. Morgan Stanley decreased their target price on MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. Jefferies Financial Group increased their target price on MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Barclays initiated coverage on MetLife in a research note on Wednesday, September 4th. They set an “overweight” rating and a $91.00 target price on the stock. Piper Sandler increased their target price on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods decreased their target price on MetLife from $86.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, MetLife presently has an average rating of “Moderate Buy” and a consensus price target of $87.25.

MetLife Price Performance

MET stock opened at $83.00 on Tuesday. MetLife, Inc. has a 1 year low of $57.91 and a 1 year high of $84.26. The firm has a market capitalization of $59.02 billion, a P/E ratio of 28.52, a P/E/G ratio of 0.66 and a beta of 1.04. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.16 and a quick ratio of 0.16. The business’s 50-day moving average is $75.97 and its two-hundred day moving average is $73.33.

MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.15. MetLife had a return on equity of 21.41% and a net margin of 4.23%. The business had revenue of $17.82 billion for the quarter, compared to the consensus estimate of $18.57 billion. During the same quarter in the prior year, the business posted $1.94 EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts anticipate that MetLife, Inc. will post 8.68 earnings per share for the current fiscal year.

MetLife Profile

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; 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.