Novare Capital Management Lowers stake in Metlife Inc (MET)

Metlife Inc (MET) : Novare Capital Management reduced its stake in Metlife Inc by 6.05% during the most recent quarter end. The investment management company now holds a total of 129,233 shares of Metlife Inc which is valued at $5,188,705 after selling 8,319 shares in Metlife Inc , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Metlife Inc makes up approximately 1.36% of Novare Capital Management’s portfolio.

Other Hedge Funds, Including , Brave Asset Management Inc boosted its stake in MET in the latest quarter, The investment management firm added 11,139 additional shares and now holds a total of 61,689 shares of Metlife Inc which is valued at $2,476,813. Metlife Inc makes up approx 1.62% of Brave Asset Management Inc’s portfolio.Cambridge Investment Research Advisors reduced its stake in MET by selling 6,073 shares or 15.71% in the most recent quarter. The Hedge Fund company now holds 32,582 shares of MET which is valued at $1,340,423. Metlife Inc makes up approx 0.03% of Cambridge Investment Research Advisors’s portfolio.Meyer Handelman Co boosted its stake in MET in the latest quarter, The investment management firm added 7,600 additional shares and now holds a total of 83,500 shares of Metlife Inc which is valued at $3,612,210. Metlife Inc makes up approx 0.16% of Meyer Handelman Co’s portfolio.Eastern Bank boosted its stake in MET in the latest quarter, The investment management firm added 2,077 additional shares and now holds a total of 58,027 shares of Metlife Inc which is valued at $2,500,383. Metlife Inc makes up approx 0.20% of Eastern Bank’s portfolio.

Metlife Inc closed down -0.01 points or -0.02% at $40.39 with 51,87,877 shares getting traded on Wednesday. Post opening the session at $40.38, the shares hit an intraday low of $40.08 and an intraday high of $40.56 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Metlife Inc reported $0.83 EPS for the quarter, missing the analyst consensus estimate by $ -0.52 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $1.35. The company had revenue of $16955.00 million for the quarter, compared to analysts expectations of $17201.68 million. The company’s revenue was down -2.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.56 EPS.

Many Wall Street Analysts have commented on Metlife Inc. Shares were Downgraded by Deutsche Bank on Jul 13, 2016 to ” Hold” and Lowered the Price Target to $ 44 from a previous price target of $47 .

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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