Wedge Capital Management L L P NC Has $37.88 Million Stake in MetLife, Inc. (NYSE:MET)

Wedge Capital Management L L P NC boosted its position in MetLife, Inc. (NYSE:MET) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 572,751 shares of the financial services provider’s stock after acquiring an additional 21,063 shares during the period. Wedge Capital Management L L P NC owned 0.08% of MetLife worth $37,876,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Criterion Capital Advisors LLC bought a new position in MetLife in the 4th quarter worth $26,000. Quintet Private Bank Europe S.A. purchased a new stake in shares of MetLife during the 3rd quarter worth $28,000. Planned Solutions Inc. acquired a new position in shares of MetLife during the fourth quarter worth about $28,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of MetLife in the fourth quarter worth $34,000. Finally, Headlands Technologies LLC bought a new position in shares of MetLife in the 3rd quarter worth about $36,000. Institutional investors own 89.81% of the company’s stock.

MetLife Trading Up 1.2 %

MetLife stock traded up $0.85 during trading hours on Monday, hitting $71.96. The stock had a trading volume of 2,846,043 shares, compared to its average volume of 3,551,424. The business’s 50 day simple moving average is $71.12 and its 200-day simple moving average is $66.86. MetLife, Inc. has a one year low of $48.95 and a one year high of $74.68. The stock has a market cap of $52.03 billion, a price-to-earnings ratio of 39.50, a P/E/G ratio of 0.53 and a beta of 1.04. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.53.

MetLife (NYSE:MET) last announced its earnings results on Wednesday, January 31st. The financial services provider reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.02). The firm had revenue of $18.72 billion during the quarter, compared to the consensus estimate of $18.07 billion. MetLife had a return on equity of 19.48% and a net margin of 2.36%. On average, equities analysts predict that MetLife, Inc. will post 8.71 EPS for the current fiscal year.

Insider Activity at MetLife

In other MetLife news, insider Ramy Tadros sold 4,026 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $71.90, for a total value of $289,469.40. Following the sale, the insider now owns 146,981 shares of the company’s stock, valued at $10,567,933.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other MetLife news, EVP Bill Pappas sold 27,000 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $72.27, for a total value of $1,951,290.00. Following the completion of the sale, the executive vice president now directly owns 57,768 shares in the company, valued at $4,174,893.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ramy Tadros sold 4,026 shares of MetLife stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $71.90, for a total value of $289,469.40. Following the completion of the transaction, the insider now owns 146,981 shares in the company, valued at approximately $10,567,933.90. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. UBS Group cut their target price on shares of MetLife from $87.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. Keefe, Bruyette & Woods lifted their price objective on MetLife from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. The Goldman Sachs Group raised MetLife from a “neutral” rating to a “buy” rating and raised their price objective for the company from $70.00 to $80.00 in a report on Monday, January 8th. Morgan Stanley upped their price objective on MetLife from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, Wells Fargo & Company raised their price objective on MetLife from $83.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, MetLife currently has a consensus rating of “Moderate Buy” and an average target price of $79.23.

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.