Teacher Retirement System of Texas Sells 237,115 Shares of MetLife, Inc. $MET

Key Points

• Teacher Retirement System of Texas cut its MetLife stake by 60.3%, selling 237,115 shares in Q4 and leaving 155,920 shares worth about $12.31 million.
• MetLife beat Q4 expectations, reporting $2.49 EPS versus $2.34 expected and revenue of $52.44 billion (up 27.6% year-over-year).
• Analysts remain broadly positive with a MarketBeat consensus of "Moderate Buy" and a $93.38 price target, though several firms recently trimmed their targets.

Teacher Retirement System of Texas decreased its holdings in shares of MetLife, Inc. (NYSE:MET - Free Report) by 60.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 155,920 shares of the financial services provider's stock after selling 237,115 shares during the quarter. Teacher Retirement System of Texas' holdings in MetLife were worth $12,308,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC increased its holdings in MetLife by 790.0% during the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider's stock worth $29,000 after purchasing an additional 316 shares during the period. Sound Income Strategies LLC increased its holdings in MetLife by 58.9% during the 4th quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider's stock worth $29,000 after purchasing an additional 142 shares during the period. Foster Dykema Cabot & Partners LLC purchased a new position in MetLife during the 3rd quarter worth $32,000. JPL Wealth Management LLC purchased a new position in MetLife during the 3rd quarter worth $33,000. Finally, Albion Financial Group UT purchased a new position in MetLife during the 4th quarter worth $32,000. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Stock Up 2.1%

Shares of NYSE MET opened at $77.66 on Friday. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $50.64 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 0.67 and a beta of 0.74. The stock's fifty day simple moving average is $73.10 and its two-hundred day simple moving average is $76.68. MetLife, Inc. has a 12-month low of $67.33 and a 12-month high of $83.85.

MetLife (NYSE:MET - Get Free Report) last announced its earnings results on Wednesday, February 4th. The financial services provider reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.15. The business had revenue of $52.44 billion for the quarter, compared to analysts' expectations of $31.43 billion. MetLife had a return on equity of 21.81% and a net margin of 4.38%.The business's revenue for the quarter was up 27.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.08 EPS. As a group, analysts expect that MetLife, Inc. will post 9.85 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on MET. Wells Fargo & Company reduced their price objective on MetLife from $93.00 to $90.00 and set an "overweight" rating on the stock in a report on Friday, April 10th. Morgan Stanley reduced their price objective on MetLife from $101.00 to $93.00 and set an "overweight" rating on the stock in a report on Tuesday, March 3rd. Keefe, Bruyette & Woods restated a "moderate buy" rating and set a $87.00 price objective on shares of MetLife in a report on Thursday, March 26th. TD Cowen reduced their price objective on MetLife from $91.00 to $88.00 and set a "buy" rating on the stock in a report on Wednesday, March 11th. Finally, Mizuho dropped their target price on MetLife from $100.00 to $93.00 and set an "outperform" rating on the stock in a research report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, MetLife currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.38.

About MetLife

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.

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