Smithbridge Asset Management Incde Lowers stake in Metlife Inc (MET)

Metlife Inc (MET) : Smithbridge Asset Management Incde reduced its stake in Metlife Inc by 9.75% during the most recent quarter end. The investment management company now holds a total of 50,268 shares of Metlife Inc which is valued at $2,357,067 after selling 5,433 shares in Metlife Inc , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.Metlife Inc makes up approximately 2.14% of Smithbridge Asset Management Incde’s portfolio.

Other Hedge Funds, Including , Private Bank Trust Co boosted its stake in MET in the latest quarter, The investment management firm added 293 additional shares and now holds a total of 7,808 shares of Metlife Inc which is valued at $364,477. Metlife Inc makes up approx 0.06% of Private Bank Trust Co’s portfolio.Legal General Group Plc boosted its stake in MET in the latest quarter, The investment management firm added 80,668 additional shares and now holds a total of 4,494,003 shares of Metlife Inc which is valued at $212,611,282. Metlife Inc makes up approx 0.22% of Legal General Group Plc’s portfolio.Banced Corp boosted its stake in MET in the latest quarter, The investment management firm added 1,874 additional shares and now holds a total of 8,648 shares of Metlife Inc which is valued at $409,137. Metlife Inc makes up approx 0.81% of Banced Corp’s portfolio.Hudson Valley Investment Advisors Inc Adv reduced its stake in MET by selling 2,140 shares or 14.7% in the most recent quarter. The Hedge Fund company now holds 12,422 shares of MET which is valued at $591,039. Metlife Inc makes up approx 0.18% of Hudson Valley Investment Advisors Inc Adv’s portfolio.

Metlife Inc opened for trading at $47.33 and hit $47.65 on the upside on Friday, eventually ending the session at $46.89, with a gain of 0.45% or 0.21 points. The heightened volatility saw the trading volume jump to 78,48,618 shares. Company has a market cap of $51,526 M.

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. Metlife Inc was Initiated by Credit Suisse to “Neutral” on Oct 7, 2016. Metlife Inc was Resumed by Wells Fargo to “Outperform” on Sep 23, 2016. Company shares were Reiterated by FBR Capital on Aug 29, 2016 to “Outperform”, Firm has raised the Price Target to $ 54 from a previous price target of $51 .

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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