Zurcher Kantonalbank Zurich Cantonalbank Has $18.04 Million Holdings in MetLife, Inc. (NYSE:MET)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in MetLife, Inc. (NYSE:MET) by 15.7% during the 4th quarter, Holdings Channel reports. The fund owned 272,742 shares of the financial services provider’s stock after acquiring an additional 37,065 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in MetLife were worth $18,036,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. United Asset Strategies Inc. raised its position in MetLife by 10.3% in the 4th quarter. United Asset Strategies Inc. now owns 12,266 shares of the financial services provider’s stock worth $811,000 after purchasing an additional 1,142 shares during the last quarter. Flputnam Investment Management Co. bought a new position in MetLife in the 4th quarter worth approximately $284,000. Cornercap Investment Counsel Inc. raised its position in MetLife by 1.5% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 31,978 shares of the financial services provider’s stock worth $2,115,000 after purchasing an additional 486 shares during the last quarter. Waldron Private Wealth LLC raised its position in MetLife by 10.8% in the 4th quarter. Waldron Private Wealth LLC now owns 4,875 shares of the financial services provider’s stock worth $322,000 after purchasing an additional 476 shares during the last quarter. Finally, Carnegie Capital Asset Management LLC raised its position in MetLife by 4.5% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 5,905 shares of the financial services provider’s stock worth $390,000 after purchasing an additional 253 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

MetLife Stock Performance

Shares of MET opened at $69.95 on Friday. The firm has a market cap of $50.58 billion, a P/E ratio of 38.22, a PEG ratio of 0.52 and a beta of 1.04. MetLife, Inc. has a twelve month low of $48.95 and a twelve month high of $74.68. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.16 and a current ratio of 0.16. The firm’s 50 day moving average price is $71.05 and its two-hundred day moving average price is $66.70.

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

Analyst Ratings Changes

Several analysts have commented on the stock. Morgan Stanley upped their target price on shares of MetLife from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Monday. Wells Fargo & Company upped their target price on shares of MetLife from $83.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. The Goldman Sachs Group upgraded shares of MetLife from a “neutral” rating to a “buy” rating and upped their target price for the company from $70.00 to $80.00 in a research report on Monday, January 8th. Piper Sandler upped their target price on shares of MetLife from $74.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Finally, UBS Group dropped their target price on shares of MetLife from $87.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, February 5th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, MetLife has a consensus rating of “Moderate Buy” and an average target price of $79.23.

Insider Activity

In other news, EVP Bill Pappas sold 27,000 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $72.27, for a total value of $1,951,290.00. Following the completion of the transaction, the executive vice president now owns 57,768 shares in the company, valued at $4,174,893.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Ramy Tadros sold 4,026 shares of the business’s 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 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 SEC, which is accessible through the SEC website. Also, EVP Bill Pappas sold 27,000 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $72.27, for a total transaction 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 approximately $4,174,893.36. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.

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.