Granite Investment Advisors Lowers stake in Metlife Inc (MET)

Metlife Inc (MET) : Granite Investment Advisors reduced its stake in Metlife Inc by 2.03% during the most recent quarter end. The investment management company now holds a total of 245,023 shares of Metlife Inc which is valued at $11,050,537 after selling 5,085 shares in Metlife Inc , the firm said in a disclosure report filed with the SEC on Apr 26, 2016.Metlife Inc makes up approximately 2.21% of Granite Investment Advisors’s portfolio.

Metlife Inc opened for trading at $45.35 and hit $45.85 on the upside on Monday, eventually ending the session at $45.84, with a gain of 1.64% or 0.74 points. The heightened volatility saw the trading volume jump to 50,81,683 shares. Company has a market cap of $50,271 M.

Other Hedge Funds, Including , Narwhal Capital Management boosted its stake in MET in the latest quarter, The investment management firm added 5,775 additional shares and now holds a total of 58,300 shares of Metlife Inc which is valued at $2,734,270. Metlife Inc makes up approx 0.88% of Narwhal Capital Management’s portfolio.Peddock Capital Advisors reduced its stake in MET by selling 15,685 shares or 65.73% in the most recent quarter. The Hedge Fund company now holds 8,179 shares of MET which is valued at $383,595. Metlife Inc makes up approx 0.28% of Peddock Capital Advisors’s portfolio.Delta Capital Management reduced its stake in MET by selling 148 shares or 0.24% in the most recent quarter. The Hedge Fund company now holds 61,139 shares of MET which is valued at $2,867,419. Metlife Inc makes up approx 1.97% of Delta Capital Management’s portfolio.Benjamin F. Edwards Company reduced its stake in MET by selling 3,672 shares or 43.43% in the most recent quarter. The Hedge Fund company now holds 4,783 shares of MET which is valued at $213,561. Metlife Inc makes up approx 0.04% of Benjamin F. Edwards Company’s portfolio.

On the company’s financial health, Metlife Inc reported $1.23 EPS for the quarter, missing the analyst consensus estimate by $ -0.13 based on the information available during the earnings call on Feb 3, 2016. Analyst had a consensus of $1.36. The company had revenue of $17111.00 million for the quarter, compared to analysts expectations of $17598.80 million. The company’s revenue was down -6.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.38 EPS.

Many Wall Street Analysts have commented on Metlife Inc. Company shares were Reiterated by UBS on Mar 15, 2016 to “Neutral”, Firm has raised the Price Target to $ 44 from a previous price target of $42 .Shares were Reiterated by Barclays on Feb 4, 2016 to “Overweight” and Lowered the Price Target to $ 53 from a previous price target of $60 .

MetLife Inc. (MetLife) is a provider of life insurance annuities employee benefits and asset management. The Company’s segments include Retail; Group Voluntary & Worksite Benefits and Corporate Benefit Funding. Its three geographic segments are Latin America (collectively the Americas); Asia and Europe the Middle East and Africa (EMEA). In addition MetLife’s Corporate & Other includes MetLife Home Loans LLC (MLHL) the surviving non-bank entity of the merger of MetLife Bank National Association (MetLife Bank) with and into MLHL and other business activities. Through its subsidiaries and affiliates it operates in the United States Japan Latin America Asia Europe and the Middle East. The Company‘s businesses in the Americas offer a range of protection products and services.

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