Granite Investment Advisors Lowers stake in Metlife Inc (MET)

Metlife Inc (MET) : Granite Investment Advisors reduced its stake in Metlife Inc by 3.44% during the most recent quarter end. The investment management company now holds a total of 236,588 shares of Metlife Inc which is valued at $10,234,797 after selling 8,435 shares in Metlife Inc , the firm said in a disclosure report filed with the SEC on Jul 22, 2016.Metlife Inc makes up approximately 2.01% of Granite Investment Advisors’s portfolio.

Other Hedge Funds, Including , Robeco Institutional Asset Management B.v. boosted its stake in MET in the latest quarter, The investment management firm added 96,479 additional shares and now holds a total of 358,295 shares of Metlife Inc which is valued at $15,499,842. Metlife Inc makes up approx 0.11% of Robeco Institutional Asset Management B.v.’s portfolio.Oakworth Capital boosted its stake in MET in the latest quarter, The investment management firm added 288 additional shares and now holds a total of 640 shares of Metlife Inc which is valued at $27,686. Metlife Inc makes up approx 0.01% of Oakworth Capital’s portfolio.Farmers Merchants Investments Inc boosted its stake in MET in the latest quarter, The investment management firm added 4,377 additional shares and now holds a total of 120,811 shares of Metlife Inc which is valued at $5,212,995. Metlife Inc makes up approx 0.56% of Farmers Merchants Investments Inc’s portfolio.Hartford Financial Management reduced its stake in MET by selling 100 shares or 4.9% in the most recent quarter. The Hedge Fund company now holds 1,942 shares of MET which is valued at $82,749. Metlife Inc makes up approx 0.05% of Hartford Financial Management’s portfolio.Capstone Asset Management Co reduced its stake in MET by selling 3,533 shares or 3.32% in the most recent quarter. The Hedge Fund company now holds 102,883 shares of MET which is valued at $4,164,704. Metlife Inc makes up approx 0.12% of Capstone Asset Management Co’s portfolio.

Metlife Inc closed down -0.34 points or -0.79% at $42.74 with 55,38,616 shares getting traded on Friday. Post opening the session at $42.79, the shares hit an intraday low of $42.58 and an intraday high of $43.12 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Metlife Inc reported $1.20 EPS for the quarter, missing the analyst consensus estimate by $ -0.18 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $1.38. The company had revenue of $16611.00 million for the quarter, compared to analysts expectations of $17085.57 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.44 EPS.

Investors should note that on Jul 7, 2016, Metlife Inc announced a cash dividend of $0.4000. The company’s management has announced Aug 4, 2016 as the ex-dividend date and fixed the record date on Aug 8, 2016. The payable date has been fixed on Sep 13, 2016.

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 .Shares were Reiterated by RBC Capital Mkts on May 5, 2016 to “Outperform” and Lowered the Price Target to $ 62 from a previous price target of $65 .

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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