Zurcher Kantonalbank Zurich Cantonalbank Sells 88,342 Shares of MetLife, Inc. $MET

Key Points

• Zurcher Kantonalbank lowered its stake in MetLife by 24.4%, selling 88,342 shares and leaving it with 273,810 shares valued at about $21.615 million at quarter-end.
• Analysts maintain a consensus rating of “Moderate Buy” with a consensus target price of $93.38; recent revisions include UBS raising its target to $102 while several brokers trimmed theirs into the high $80s–$90s.
• MetLife recently beat quarterly EPS estimates ($2.49 vs. $2.34) and reported revenue of $52.44 billion (up 27.6% YoY); the company has a market cap of about $50.6 billion and a P/E of 16.49.

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in MetLife, Inc. (NYSE:MET - Free Report) by 24.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 273,810 shares of the financial services provider's stock after selling 88,342 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in MetLife were worth $21,615,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MET. Vermillion & White Wealth Management Group LLC increased its holdings in shares of MetLife by 790.0% in the third quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 316 shares in the last quarter. Sound Income Strategies LLC increased its holdings in shares of MetLife by 58.9% in the fourth quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 142 shares in the last quarter. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of MetLife in the third quarter valued at approximately $32,000. Albion Financial Group UT bought a new position in MetLife in the fourth quarter valued at approximately $32,000. Finally, JPL Wealth Management LLC bought a new position in MetLife in the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 94.99% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MET. UBS Group raised their price objective on shares of MetLife from $98.00 to $102.00 and gave the company a "buy" rating in a research note on Thursday, April 9th. Morgan Stanley reduced their price objective on shares of MetLife from $101.00 to $93.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 3rd. Keefe, Bruyette & Woods reaffirmed a "moderate buy" rating and issued a $87.00 price objective on shares of MetLife in a research note on Thursday, March 26th. Bank of America reduced their price objective on shares of MetLife from $103.00 to $99.00 and set a "buy" rating on the stock in a research note on Tuesday, April 14th. Finally, Barclays reduced their price objective on shares of MetLife from $92.00 to $89.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $93.38.

MetLife Trading Down 0.2%

Shares of NYSE:MET opened at $77.52 on Wednesday. MetLife, Inc. has a 12 month low of $67.33 and a 12 month high of $83.85. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.52. The company's fifty day simple moving average is $73.15 and its 200 day simple moving average is $76.71. The firm has a market cap of $50.55 billion, a price-to-earnings ratio of 16.49, a PEG ratio of 0.69 and a beta of 0.74.

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

MetLife Company Profile

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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