Sterling Capital Management LLC Sells 302,502 Shares of MetLife, Inc. (NYSE:MET)

Sterling Capital Management LLC trimmed its holdings in shares of MetLife, Inc. (NYSE:MET - Free Report) by 28.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 746,232 shares of the financial services provider's stock after selling 302,502 shares during the quarter. Sterling Capital Management LLC owned 0.11% of MetLife worth $61,102,000 as of its most recent filing with the SEC.

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Several other hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in shares of MetLife by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 11,931,536 shares of the financial services provider's stock worth $973,901,000 after acquiring an additional 158,107 shares in the last quarter. Norges Bank bought a new position in MetLife during the 4th quarter worth about $730,716,000. Bank of New York Mellon Corp raised its stake in shares of MetLife by 109.2% in the 4th quarter. Bank of New York Mellon Corp now owns 8,826,658 shares of the financial services provider's stock valued at $722,727,000 after purchasing an additional 4,606,748 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of MetLife by 43.7% in the fourth quarter. Clearbridge Investments LLC now owns 5,663,177 shares of the financial services provider's stock valued at $463,701,000 after purchasing an additional 1,723,461 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of MetLife by 16.8% during the fourth quarter. Nordea Investment Management AB now owns 4,238,087 shares of the financial services provider's stock worth $347,735,000 after buying an additional 608,224 shares during the period. 94.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MET shares. Cowen restated a "buy" rating on shares of MetLife in a research note on Friday, March 7th. JPMorgan Chase & Co. cut their price objective on shares of MetLife from $88.00 to $86.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Wells Fargo & Company lowered their price target on shares of MetLife from $97.00 to $91.00 and set an "overweight" rating on the stock in a research note on Thursday. BMO Capital Markets initiated coverage on shares of MetLife in a research note on Thursday, January 23rd. They set a "market perform" rating and a $97.00 price objective for the company. Finally, Barclays lowered their target price on MetLife from $96.00 to $95.00 and set an "overweight" rating on the stock in a research report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $93.00.

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Get Our Latest Stock Report on MET

MetLife Stock Down 5.8 %

MET stock opened at $70.87 on Friday. The business's 50 day simple moving average is $80.59 and its 200 day simple moving average is $82.52. MetLife, Inc. has a 1-year low of $65.21 and a 1-year high of $89.05. The firm has a market capitalization of $48.28 billion, a PE ratio of 11.87, a PEG ratio of 0.65 and a beta of 0.89. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.54.

• This Insurance Giant Looks Ready For A Breakout

MetLife (NYSE:MET - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The financial services provider reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.13 by ($0.05). MetLife had a net margin of 6.19% and a return on equity of 20.42%. As a group, research analysts anticipate that MetLife, Inc. will post 9.65 EPS for the current 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.

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