Beacon Financial Group Has $308,000 Stake in MetLife, Inc. (MET)

Beacon Financial Group reduced its stake in shares of MetLife, Inc. (NYSE:MET) by 96.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,930 shares of the financial services provider’s stock after selling 141,106 shares during the period. Beacon Financial Group’s holdings in MetLife were worth $308,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MET. Intl Fcstone Inc. bought a new stake in MetLife during the 2nd quarter valued at approximately $383,000. Griffin Asset Management Inc. bought a new stake in MetLife during the 2nd quarter valued at approximately $2,424,000. Farmers National Bank bought a new stake in MetLife during the 2nd quarter valued at approximately $118,000. RNC Capital Management LLC raised its stake in MetLife by 3.9% during the 2nd quarter. RNC Capital Management LLC now owns 427,056 shares of the financial services provider’s stock valued at $23,462,000 after purchasing an additional 16,100 shares during the period. Finally, Sentry Investment Management LLC raised its stake in MetLife by 0.8% during the 2nd quarter. Sentry Investment Management LLC now owns 82,321 shares of the financial services provider’s stock valued at $4,523,000 after purchasing an additional 690 shares during the period. 74.22% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently issued reports on MET shares. ValuEngine raised MetLife from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Royal Bank Of Canada reissued a “buy” rating and set a $56.00 target price on shares of MetLife in a research note on Wednesday, September 6th. Citigroup Inc. set a $51.00 target price on MetLife and gave the company a “sell” rating in a research note on Friday, July 7th. UBS AG reissued a “neutral” rating and set a $49.00 target price (down previously from $57.00) on shares of MetLife in a research note on Friday, September 1st. Finally, BidaskClub raised MetLife from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $57.62.

TRADEMARK VIOLATION WARNING: “Beacon Financial Group Has $308,000 Stake in MetLife, Inc. (MET)” was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this article on another site, it was copied illegally and republished in violation of U.S. and international trademark and copyright law. The correct version of this article can be viewed at https://ledgergazette.com/2017/10/18/beacon-financial-group-has-308000-stake-in-metlife-inc-met.html.

Shares of MetLife, Inc. (MET) traded up 0.88% during trading on Wednesday, hitting $52.84. The stock had a trading volume of 1,104,340 shares. The firm has a market cap of $56.16 billion, a price-to-earnings ratio of 621.65 and a beta of 1.47. MetLife, Inc. has a 52-week low of $40.30 and a 52-week high of $53.30. The firm’s 50-day moving average is $50.03 and its 200 day moving average is $47.91.

MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, beating the consensus estimate of $1.28 by $0.02. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The firm had revenue of $17.39 billion during the quarter, compared to analysts’ expectations of $17.11 billion. During the same quarter last year, the firm earned $0.83 earnings per share. The business’s revenue f

Several other hedge funds also recently bought and sold shares of MET. Intl Fcstone Inc. bought a new stake in MetLife during the 2nd quarter valued at approximately $383,000. Griffin Asset Management Inc. bought a new stake in MetLife during the 2nd quarter valued at approximately $2,424,000. Farmers National Bank bought a new stake in MetLife during the 2nd quarter valued at approximately $118,000. RNC Capital Management LLC raised its stake in MetLife by 3.9% during the 2nd quarter. RNC Capital Management LLC now owns 427,056 shares of the financial services provider’s stock valued at $23,462,000 after purchasing an additional 16,100 shares during the period. Finally, Sentry Investment Management LLC raised its stake in MetLife by 0.8% during the 2nd quarter. Sentry Investment Management LLC now owns 82,321 shares of the financial services provider’s stock valued at $4,523,000 after purchasing an additional 690 shares during the period. 74.22% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently issued reports on MET shares. ValuEngine raised MetLife from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Royal Bank Of Canada reissued a “buy” rating and set a $56.00 target price on shares of MetLife in a research note on Wednesday, September 6th. Citigroup Inc. set a $51.00 target price on MetLife and gave the company a “sell” rating in a research note on Friday, July 7th. UBS AG reissued a “neutral” rating and set a $49.00 target price (down previously from $57.00) on shares of MetLife in a research note on Friday, September 1st. Finally, BidaskClub raised MetLife from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $57.62.

TRADEMARK VIOLATION WARNING: “Beacon Financial Group Has $308,000 Stake in MetLife, Inc. (MET)” was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this article on another site, it was copied illegally and republished in violation of U.S. and international trademark and copyright law. The correct version of this article can be viewed at https://ledgergazette.com/2017/10/18/beacon-financial-group-has-308000-stake-in-metlife-inc-met.html.

Shares of MetLife, Inc. (MET) traded up 0.88% during trading on Wednesday, hitting $52.84. The stock had a trading volume of 1,104,340 shares. The firm has a market cap of $56.16 billion, a price-to-earnings ratio of 621.65 and a beta of 1.47. MetLife, Inc. has a 52-week low of $40.30 and a 52-week high of $53.30. The firm’s 50-day moving average is $50.03 and its 200 day moving average is $47.91.

MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, beating the consensus estimate of $1.28 by $0.02. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The firm had revenue of $17.39 billion during the quarter, compared to analysts’ expectations of $17.11 billion. During the same quarter last year, the firm earned $0.83 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts expect that MetLife, Inc. will post $4.81 EPS for the current year.

About MetLife

MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.

Institutional Ownership by Quarter for MetLife (NYSE:MET)

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